Why is van insurance so expensive?

If you’re new to van driving, or are a young or inexperienced driver, you might find that the cost of van insurance is higher than you expected.

There are lots of things have an impact on the cost of insurance for van drivers, including:

• The age and experience of the driver
• The make and model of van
• The level of insurance required
• What the van is used for
• The location in which the driver lives and works

As young and inexperienced van drivers are statistically more likely to have accidents and need to make a claim, van insurance providers will calculate that they are of a higher ‘risk’ level than older and more experienced drivers, so premiums will naturally be higher for those who have just passed their driving test or have never driven a van on their own policy before.

Also, as vans are larger than most cars, and many have solid sides and backs which reduces visibility, accidents are more likely for those who aren’t used to van driving.

The make and model of van can have an impact on insurance premiums because larger vans, or those with more powerful engines, are again statistically a higher ‘risk’ so premiums will be more expensive.

As with cars, van drivers can opt for different levels of insurance, from third party-only, through to fully comprehensive with business cover included. Third party only is usually the cheapest option, but the level of cover is very low and not suitable for every van driver.

When it comes to insurance, the ‘use’ of the van relates to whether it’s used for work, and if so, which kind of work. For tradespeople who only carry their own tools, materials and property in their van, a different level of cover is needed than for those who use their van for courier deliveries. Click for more information of the different types of commercial van insurance.

The location in which the van spends most of its time will have an impact on how expensive your van insurance premiums are because again it’s all related to the level of perceived risk. If you live in an urban area with a high crime rate, your van insurance is likely to be more expensive than if you live in a suburban or rural area with much lower instances of vehicle crime.

To make sure you’re getting the best possible deal on your van insurance, it can really pay off to run a quote comparison to get a range of different prices from different insurance providers.

Next page: What insurance group is my van in?