During the 12 months of 2016 van insurance had a rise of 11.7% according to new official figures, which is “way more” than inflation commented one expert.
I have to agree, and it’s just like I’ve been saying for a long time now…van insurance is just too expensive for the average white van man so to speak, but because many people need vans for their work they don’t really have any choice.
In other words, you have to pay it, and the van insurance companies know this which is why they have no problem adding another nought to your policy whenever they feel like it.
The new figures also said that an average van insurance policy is now priced at £1591 for the year, which is pretty much double what you pay for car insurance, despite the fact that many small commercial vehicles are not much bigger than a normal car.
Like I’ve talked about before though, it’s the under 25’s that really get hit in the wallet, and as the new figures suggest, this age bracket has an average premium of £4700 a year.
Yes you read that right, and that is why I always advise young drivers who want to insure a van – “use a comparison website,” because you might be able to save a few quid, although you will still probably pay quite a bit.
The good news, if you can call it that, is that under 25’s only witnessed a rise of 3.6% in their van insurance costs during the 12 months of 2016, although that is still more than inflation.
Despite all of this, sales of vans around the UK are stronger than ever before, with the new figures suggesting that there will be more sold this year than ever before. This really is a good time to be a van manufacturer it seems, and with the self driving revolution just around the corner things are going to get even better.
One way that many van drivers save money on their insurance is to opt for “carriage of own goods” cover, as this does save a bit of money. If you are a trades person such as builder, roofer, plumber or carpenter then you might want to give it a try.
Also, don’t forget to use a van insurance comparison website, where all you have to do is submit a straight forward form and you then instantly get access to around 40 quotes from different insurers.
The one tip I will give you is to stay away from those comparison websites that have fancy gimmicks or give you a free gift.
You are much better off going with a site that is no-nonsense and designed for the average van driver, like this one, so the quote you are offered is the price you pay should you decide to go with it.