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If your existing van insurance policy is coming up for renewal then now may be a good time to see if you are able to get the cover cheaper elsewhere. This is because the average cost of car insurance has fallen by a significant amount in the last year so, hopefully, the same thing may have happened to van insurance.
Every quarter, Confused.com produces its car insurance price index covering the UK that details the average cost of such cover. In the third quarter of this year, premiums reduced by an average of £97 per annum when compared with the same quarter last year. That was a fall of 16% from £611 per annum to £514 per annum. That is the lowest premiums have been for the previous 6 years. Let us hope that we continue to see a drop in such premiums.
There are so many factors that impact upon how much you pay for your motor insurance such as your age, where you live, the level of cover, your driving history, the number of miles you do each year and the amount of excess you have to pay in the event of making a claim.
With regard to age, on average, it is the younger driver who pays more for his or her cover as they are more likely to be involved in a road traffic accident than a mature, experienced driver. The above index reveals that an 18 year old is paying more to insure their car than any other age – an average of £1,379 per annum whereas a 30 year old is paying an average of £689 per annum.
With regard to where you live, unfortunately if you happen to reside in Inner London, on average you are paying more for your cover than anywhere else in the UK – an average of £804 per annum. If you live in the borders of Scotland, on average you will be in the cheapest region to insure a car with premiums averaging £327 per annum.
If you require a competitive quote for van insurance why not get in touch with us at your earliest convenience.