Van Insurance Set to Increase

As if the current lockdown wasn’t enough to have us all hunkering down for the winter, news this week is that van insurance is set to go up in cost. In fact, since the end of the last lockdown, they have, reports suggest, already increased by 1.6% in the last 3 months, compared to a drop of 2.4% during lockdown.

If you get all whizzy with the maths, that is still a net decrease of 0.8%, but given that many van insurance commentators (yes, they actually exist), had predicted a much greater fall, it doesn’t make for happy reading, especially considering that van drivers were one of the most affected jobs as a result of the lockdown, either by being unseasonably busy or simply unable to work.

There is some good news if you use your van as your main form of domestic transport too  with a social, domestic and pleasure policy – there has been a drop in the cost to renew your van insurance, but given that most of us use our vans for work, this doesn’t really help the drivers who use their vans to earn a living.

Also, with more people looking to switch career and get into van delivery driving due to the cut of jobs in other industries such as hospitality and leisure, bad news for the younger van drivers out there. Unless you are prepared to install a telematics device to reduce the cost of van insurance, the average cost of annual van insurance for the under 25’s is a whopping £3,091. 

What happens next? Well, if this year has taught us anything, it’s that none of us really know. But if you do want the best deals, our advice remains the same – complete our simple quote tool, and let the very best van insurance deals come directly to you. After all, life is hard enough. 

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