The travails of a younger van owner never cease

Van insurance news roundup: 7 days ending 26 june 2013:

It’s no secret that the younger generation today has plenty of obstacles in their way when it comes to car insurance or van insurance, what with the economy.

Thinking about the financial stability of the UK, the eurozone, and in fact the entire world is most definitely not for the fainthearted at the moment. It’s getting harder to make ends meet, but there is a bit of good news on the horizon in the form of some very interesting information I uncovered this past week.

First off, a new research study from a major comparison site discovered that you can significantly impact your rate quotes by simply not waiting until the very last moment when it comes to policy renewal. This top tip applies to both car owners and those looking for commercial van insurance cover, so listen carefully: leaving your renewal until the day of will leave you between a rock and a hard place, and any insurer you go to will know this and raise their rates accordingly, so plan ahead!

Seems like a clear case of price-gouging doesn’t it? Well it is and it isn’t – according to insurers, anyone who is scatterbrained enough to wait until the day of renewal before getting their policy sorted is most likely the kind of person that is easily distracted or inattentive behind the wheel, so waiting to the last minute is just giving your insurer an excuse to charge you even more.

This is especially difficult for younger motorists, considering premium prices are too damn high to begin with. Still, I did run across a bit of good news on that front as well: according to Autonet, younger van drivers are experiencing lowered rates on their vehicles when compared to 2012’s figures.

The insurance broker discovered that prices for the first half of 2013 have declined by around 23 per cent from last year’s figures, which is quite a pleasant change for cash-strapped younger Brits. Of course, this still means the average premium price is well over £1,250, so while it’s a bit less expensive than it was in 2012 it’s still well nigh unaffordable – and in many cases might be more expensive than the vehicle you’re trying to insure!

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