According to recent reports, the cost of van insurance is on the rise, so comparing cover is more important than ever in order to achieve an affordable deal.
Can Insurance Costs 11% More
Figures from the quarterly Consumer Intelligence Van Insurance Index show that that the average annual cost of van insurance is now £967 - up 11% in the last year.
The same report found that under-25s are likely to be charged the most for cover with a typical premium now costing £3,297 - up 4.5% in the last three months. The average fee to over 50s has risen 9%, but still remains low at £351, whereas the average charge to people aged 25 to 49 is now £568 a year.
Ian Hughes, Chief Executive of market research agency Consumer Intelligence, has said:
“The van insurance market is seeing double digit price rises in line with the car insurance market as a whole, [...] with van drivers paying higher premiums than motorists. ”
“When people are using their vans for work, as more and more people are doing, it adds substantially to the costs of doing business. That means it makes sense for drivers to ensure they source the appropriate insurance for their van, as there are substantial savings for those who only need carriage of own goods cover. Shopping around will also help as prices vary month on month and between providers.”
If you would like to ensure you’re achieving a competitive deal, compare van insurance online today with us. Simply fill in our online form to retrieve a quote and you will be entered into our prize draw where you could win a new iPad Mini.
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