Taking the plunge and setting out on the road of creating your own business can be a big, no, huge step for any young person with aspirations of making a go of it on their own. Especially against the current economic backdrop and headlines such as ‘95% of all new start-ups go under in the first year’. It’s a brave decision.
What most individuals fail to take into account is that every single aspect of making a go of your own business has many facets and it’s down to the owner of the business (that’s you) to sort them out. Some are obvious, some not so. Finding cheap van insurance is just one example that bears this point out exactly, and to give you a hand on your way, we’ll look to address just that over today’s two articles.
As often, before the budding entrepreneur realises it, they’ve not set enough capital aside, in arrears after six months of opening their doors so credit’s no longer an option and they’re destined to become just another failure statistic.
One such stumbling block for young tradesmen and drivers is van insurance and how to get the best deal if you’ve not had a chance to build up a safe driving history, thus availing yourself of the failsafe no claims bonus that many van drivers rely on year on year to deliver cheap van insurance.
The first van insurance quote for young drivers is a shock
The first time a young driver compares van insurance online they’d be forgiven for having the wind knocked out of their sails. The problem is not so much in their individual history, but those young drivers who have gone before them. Here’s a quick overview of why van insurance is so expensive for those aged 25 and under:
1. In their first twelve months of driving, twenty percent of young drivers are involved in an RTA (road traffic accident)
2. Twenty-five percent of all drivers who suffer fatal accidents on UK roads are under twenty five, a somewhat disproportionate figure as they only account for twelve and a half percent of drivers
3. Thirty five year old drivers are ten times less likely to be involved in an RTA than a male driver under the age of twenty one
4. Four in ten passengers who lost their life or were maimed in a car crash were in vehicles driven by young drivers, based on 2007 figures
These are very sad figures but, nonetheless, that is what young van drivers are up against and why they struggle to find a cheap van insurance quote when they set out on the road to being their own boss.
In the following article, we’ll look at those steps which can help reduce the impact that age has on a van insurance quote and/or other methods that cushion the blow.