Sep 26

Do supermarkets offer the cheapest van insurance?

Reading Time: 3 mins

Supermarkets are the place to go to get just about anything you can think of at bargain prices, so can the same thing be said for getting your van (or vans) insured from the likes of Tesco, Sainsbury’s or Asda?

For starters, you may be surprised to hear that some supermarkets do actually offer van insurance. What’s more, they’re likely to give you a better deal than if you used a more conventional insurance company such as, say, Direct Line or Aviva.


Which supermarkets?

So, let’s take a closer look at what supermarkets have to offer.

First on our list is van insurance by Asda, who let you compare from around 50 insurance companies.  They can insure your van for business or social use and offer you a choice of levels of cover. Comparing different van insurances is a great way to ensure that you are getting a good deal and probably one of the cheapest too.

The Co-Op also offer van insurance in association with Miles Smith Insurance Group, a specialist insurance broker who will compare quotes from a choice of top insurance providers. They’ll also cover you for goods in transit insurance, should this be of interest.

Next on the list is Tesco. Now you’d think that they would offer van insurance, and indeed they used to back in 2012. However, it was a short lived affair and Tesco now no longer offer van insurance.

And that, unfortunately, is that.  At this moment in time, none of the other large supermarkets – Sainsbury’s, Waitrose, Morrisons – have stepped into the van insurance market, which is a shame.


Who else offers cheap van insurance?

Instead, your best bet is to find a really good comparison website that will be able to help you to find just the right van insurance cover for your needs.

Be careful though not to make finding the cheapest quote the main criteria. Yes, we all like a bargain but sometimes peace of mind and financial security is more important. This is especially true with insurance of any kind. Cutting corners might seem like the right idea when you’re sitting in the comfort of your own home, but may seem very foolhardy if you are ever stuck in a tight spot and find yourself under insured, or worse not insured at all.

There is one other UK household name that offers van insurance and that is the Post Office. If it is important to you to get your insurance from a well-known brand, then perhaps the good old Post Office is the place to go. After all, they’ve been successfully delivering our mail and supplying us with pensions and savings etc so they should be equally good at insuring our vehicles.


How to lower your premiums

The good news is you don’t have to go to the supermarkets, or indeed the Post Office, to get the best deals on van insurance and there are several things that you can do yourself to help bring down the cost of insuring your van.

  • Try to pay for your insurance annually. Yes, it can be an expensive one-off payment but if you choose to pay monthly, you’ll pay an extra percentage on your monthly premiums. Paying monthly will cost you more. If cash flow is an issue, perhaps consider a zero percentage credit card payment but be sure to pay off the balance before the end of the zero rated period.


  • Make sure your van is as secure as it can be, stored somewhere safe overnight and is fitted with security devices that are approved by insurance providers where possible.


  • No Claims Discounts can help to reduce the amount of your premiums so it might be worth protecting them. However, this also costs extra money and if you don’t make any claims then some would consider this to be a waste of money.


  • Consider if the size of your van is suitable for your needs. If it is too big then it might be worth swapping it for a smaller van that will be cheaper to insure.


  • Check your milometer – it may seem silly but if you’ve over estimated how many miles you do in a year, you’ll be paying more in insurance than you need to. Reducing your overall mileage reduces your insurance premium costs.


  • Don’t be tempted to be lazy and not shop around for a cheaper policy when the time comes to renew. It’s a sad fact that many insurers will hike up the price when it comes to the renewal and unsuspecting motorists will feel the pinch.


  • Finally, be careful of the insurance premium that looks too good to be true. Whilst everyone loves a bargain, it can be painful if you need to make a claim in the future and you find that your van is not covered as you thought.




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