Van owners may find it of interest to hear that the average amount paid by owners of cars to insure their vehicles hit a record high in the 3rd quarter of 2023 according to the Car Insurance Price Index.

Whilst there is no guarantee that van insurance premiums will have risen by as much as car insurance premiums it is quite likely that van owners are going to be faced with an increase in premiums when there policies come up for renewal.

Nobody likes to have to spend more money especially in the current financial climate but that is what van owners will probably have to do when their van insurance comes up for renewal.

There are various things that impact upon how much you are charged for car insurance such as the number of miles you drive, the make and model of vehicle and your age. Unfortunately, if you happen to be 18 years of age then you are probably going to pay more for your cover than someone older. According to the above index, the average premium charged by insurers in the 3rd quarter of this year for an 18 year old was £2,995 per annum. That is a lot more than what a 39 year old would pay as the average premium for someone of that age was £989 per annum.

Statistically, a young driver is a lot more likely to claim on his or her car insurance policy following a road traffic accident. Therefore, the cost of such cover is probably going to be greater.

Car insurance premiums have increased significantly over the last year or so. There are a number of reasons for this such as higher costs for replacement parts and more claims being received.

So, when you receive your van insurance renewal notice, why not give us a call to discuss your requirements and obtain a quotation without any obligation. We look forward to hearing from you.