Van Insurance for Young Drivers

Young drivers pay more for their van insurance than their older counterparts. This is because, according to the statistical evidence used by insurers, those aged under 25 are more likely to be involved in an accident and make a claim.

This can be incredibly frustrating, because you could be an extremely safe driver and still end up paying a whopping van insurance premium simply because of your age. You can’t do anything about your date of birth, of course, but you can take other steps to reduce the cost of young drivers van insurance and secure the cheapest possible premium.

Here’s a run-down of tips to help you secure cheap young driver’s van insurance:

Find cheap van insurance for young drivers with MoneySupermarket

Insurers compete to sell van insurance for young drivers, so it makes sense to compare the various prices available across the market. At MoneySupermarket.com we provide access to 15 leading van insurance companies so that you can find the cheapest cover quickly and conveniently – no need to submit quotes over and again direct to insurer websites.

Streamline your cover

Van insurance companies will take every opportunity to add extras to your policy, such as legal expenses insurance and van breakdown cover. But such benefits have to be paid for, so think very carefully whether you actually need them. If you can strip out such items, you can bring down the amount you pay.

Protect your vehicle

Theft is a big problem where vans are concerned, so insurers charge high premiums to take account of the risk. If you can reduce the risks, you will also reduce the premiums. You can do this by fitting a professional alarm, immobiliser and tracking device. Make sure anything you install is from an approved manufacturer and is fitted by an expert. An insurer may specify what they require as far as security devices are concerned, so follow any instructions given.

Park safely and securely

You can also reduce risk – and obtain lower premiums on van insurance for young drivers – by parking overnight on a private drive or in a secure car-park. If you have access to a lockable garage, so much the better. But once you tell the insurer about your parking arrangements, do everything you can to stick to them.

Reduce your annual mileage

The more miles you drive, the more likely it is that you will be involved in an accident. Van insurers will ask you to specify your estimated annual mileage before providing a quote, so think realistically about how low your mileage could be. Be sure that, if you select a given level of mileage, you stick to it. If you are going to exceed the stated mileage, tell the insurer, otherwise you might have difficulties should you have to make a claim.

Examine your excess

The excess is the amount you are required to pay towards the cost of any claim. Van insurance policies have an obligatory excess, which may be £100 – the idea is to deter policyholders from making small claims that are relatively expensive to administer. You can also volunteer to pay a higher excess if you have to make a claim. As a rough rule of thumb, the bigger the voluntary excess, the lower the premium.

Remember, though, that you have to pay the excess before the insurer will pay out on a claim, so you need to be realistic: don’t go for a high voluntary excess if you won’t be able to afford it.

Avoid ‘fronting’

Given that van insurance for young drivers is expensive precisely because of the driver’s age, it might be tempting to insure the van in the name of an older, more experienced driver. But the rules stipulate that the vehicle must be insured in the name of the main driver – so if you’re the main driver, don’t use anyone else’s detail to get a cheaper policy. This is known as fronting – it’s illegal, and it would probably invalidate your cover.

That said, you should if possible include the details of older drivers on your policy, listing them as ‘named’ drivers. The insurance provider will work on the basis that the driving is being shared and price the young driver’s van insurance policy accordingly.