It is important to note that all van insurance policies are annual, however you are often given the choice to pay monthly. If you pay monthly and make a claim before the annual period is up, you will be required to make the remaining payments (or these will be deducted from any monetary claim). Your van insurance premium will be cheaper if you pay annually. Monthly van insurance is more expensive because it includes interest, which can be as much as 20% APR (or more!). You will undergo a full credit check if you choose to pay monthly for your van insurance.