Morning Live: Expert shares tips on car insurance
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Leading insurance experts at Quotezone have warned simple branding can be viewed as a modification and needs to be declared. They warn any new signage can change the van’s risk profile meaning your insurance policy needed to be updated.
Quotezone warns signage will advertise to thieves about what is likely stored in the van.
If the items are considered highly valuable, it is likely to increase the risk of you suffering break-ins.
Meanwhile, the cost of repairing signs and branding could increase the overall damage costs in the event of an accident.
The warning comes after a massive rise in van sales under the pandemic.
Data from the Society of Motor Manufacturers and Traders (SMMT) shows a 76 percent rise in vans sold on forecourts.
An extra 190,000 vehicles were sold in the first six months of the year, around 1.8 percent higher than the five year average for these vehicles.
Greg Wilson, Founder of Quotezone said new owners may not be aware signage is “viewed as a modification”.
He said signage or branding “doesn’t necessarily mean drivers won’t get the cheapest quote”.
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However, he urged drivers should “correctly declare everything” to make sure they are not caught out.
He said: “Many of these new van owners might not know signage can be viewed as a modification.
“It’s worth checking how their insurer views any branding on the vehicle to ensure they’re correctly declaring everything they’re required to declare.
“The fact that a van has a vehicle wrap, signage or branding doesn’t necessarily mean that drivers won’t still get the cheapest van insurance quote.
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