December 3, 2015

Tips to lower the cost of minibus insurance

Below we have compiled a list of actions that if followed can bring don the cost of minibus insurance

Follow the rules of the road– The point system was introduced to make it easier to apply fines for breaking the driving codes. They have different categories from speeding to drink and driving. These show on you license and are a tell tale sign that you are a higher risk than a driver with a clean license. By obeying the highway code you will benefit from reduced premiums

Drive carefully –  In addition to following the rules you need to drive with care and be able to take preventative action quickly. If you drive for a living then you should consider ongoing training in road safety. Online training is also available to help with your reactions to oncoming hazards.

Vehicle Insurance Category - Choosing the correct vehicle can also affect the insurance costs as vehicles are put into different insurance brackets which are calculated on many different factors. The biggest factor is the number of seats. The more seats the more expensive to insure. As such if you only need a maximum of 9 seats do not buy a 12 seater. 9 seater minibus insurance will be much cheaper that the 12 seater.

Named Drivers – Whilst this may be impractical it does help to reduce the number of named drivers

Voluntary Excess – Agree with your broker to increase the excess for a lower insurance premium.

Secure Parking – Providing secure parking will reduce risk of theft or damage and as a result your insurance premium. If able provide secure enclosed parking off road in a garage for example.

Reduce number of claims -  Every claim that you make will affect the renewal premium cost, as such on some occasion it may be worth while absorbing the cost in order to gain when the annual policy renewal arrives. 

Compare Quotes - Not every insurance broker is the same and the weight they add to the above factors does vary. The best approach is to get multiple quotes from a range of brokers. Do this not only when you first purchase your minibus, but at each renewal date.

Eamonn Turley

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