Why is van insurance more expensive for younger drivers?
Van insurance is more expensive for young drivers because drivers under 25 are statistically at a higher risk of being involved in an accident – and therefore making a claim. This consequently pushes up their insurance premiums.
What is considered a young driver for van insurance?
Insurers generally see anyone aged between 17 and 24 as a young driver, whether you’re driving cars, vans or most other vehicles.
Can I get van insurance as a young driver?
You can get cover for driving your van as a young driver, but some providers may have an age limit on who can take out a policy. You can also be named as an additional driver on another driver’s policy, such as a parent or guardian, or have another driver named on your policy.
Do I need van insurance as a young driver?
Van insurance is a legal requirement under the continuous insurance enforcement rules as part of the road traffic act in 2006. This means it's illegal for you to drive– without at least third-party insurance – even for just one day.
How much does van insurance cost by age group?
Age
Average Premiums
20 or less
£2,158
21-24
£1,510
25-29
£1,208
30-35
£1,008
36-40
£895
41-45
£805
46-50
£714
51-55
£627
56-60
£578
61-65
£525
66-70
£516
70 or more
£509
Based on policies with one driver holding a full UK licence. Data collected between October 2019 and March 2020, accurate as of June 2020
How much does van insurance cost for young drivers?
Van insurance for a young driver costs an average of £1,835*. However, different insurance providers are likely to give you different quotes, which is why it’s important to compare policies from a range of insurance providers.
The price you’ll pay for van insurance as a young driver will depend on a range of factors, including:
Your circumstances: The insurer will consider where you live and what job you have, because some postcodes and professions are considered as higher-risk than others
Your no-claims bonus & claims history: Insurance companies will need to know how many years of no-claims bonus you have, plus information about any claims you’ve made and whether they were your fault or not
Driving convictions: Most insurers will ask for any convictions in the last three-to-five years, if you don’t declare them, it could invalidate any claim that you make
* Based on the latest MoneySuperMarket data, correct as of June 2020
What level of cover should I get?
As with any other kind of motor insurance, you’ll be able to choose from three levels of cover:
Comprehensive cover: The best level of cover and one we would recommend for young drivers, fully comprehensive insurance protects you, your car and other motorists from any damage you cause. It also covers medical expenses, repairs, fire damage and theft of your vehicle
Third party only cover: Third-party only van insurance covers the cost of any damage to another person, their vehicle or their property that’s caused by you driving your van – but it won’t cover the cost of any damage to your own vehicle
Third-party, fire and theft (TPFT) Cover: Third-party, fire and theft offers the same level of cover as third party only cover and it also covers loss or damage to your own van if it’s caused by fire, lightning, self-ignition, explosion, theft or attempted theft
What are the different types of van insurance?
There are different types of van insurance for different needs. You will need to pick from the following:
Standard cover: Standard van insurance generally provides basic cover for your van however, it can also include contents cover for belongings you keep in the van
Courier cover:Courier cover is for vans used to carry and deliver other peoples’ goods. The policy reflects the extended amount of time the van is on the road, but doesn’t usually cover the goods themselves
Goods cover: A goods-in-transit policy will cover the items or cargo you’re transporting. However, you’ll be required to tell your insurer about the items, especially if they’re valuable or dangerous. You may need to take out special business cover if you’re carrying goods for business
Pick-up cover: Pick-up trucks aren’t covered by car insurance, but they can come under van insurance with pick-up truck cover
Is van insurance more expensive than car insurance?
Van insurance is usually more expensive than car insurance because vans tend to have bigger engines and a larger storage capacity, meaning there’s a greater chance they will be carrying valuable cargo. As a result claims are likely to cost more, so premiums are higher to reflect this.
How does my no claims bonus affect my premium?
0123456789£0£200£400£600£800£1,000£1,200£1,400£1,600£1,431£1,431£1,210£1,210£1,059£1,059£916£916£826£826£793£793£697£697£684£684£665£665£489£489Years of No Claims BonusAverage Premiums
Years of No Claims Bonus
Average Premiums
0
£1,431
1
£1,210
2
£1,059
3
£916
4
£826
5
£793
6
£697
7
£684
8
£665
9
£489
Based on policies with one driver holding a full UK licence. Data collected between October 2019 and March 2020, accurate as of June 2020
How can young drivers get cheaper van insurance?
If you’re a young driver there are things you can do to help lower the cost of van insurance:
Compare van insurance quotes: By shopping around, you can nearly always find competitive young van driver insurance. Enter your details and we’ll provide you with a range of van insurance quotes, listed in price order, starting with the cheapest
Lower insurance groups: If you’ve got a pick of vans, choosing one in a lower insurance group can help reduce your premiums
Lower mileage: Reducing the time your van spends on the road can also help lower insurance costs, as it will mean you’re less likely to be involved in an accident and therefore have to claim on your policy
Excess: Excess is the amount you pay towards your claim before your insurer covers the rest. If you can, choosing to pay a higher voluntary excess can reduce the amount you’ll pay in premiums
Extra security: Many insurers can offer discounts on your premium if you take additional steps to keep your van secure. This may include locking the van in a garage overnight or installing an additional alarm
Compare van insurance quotes for young drivers
If you’re a young driver looking for van insurance, comparing quotes with MoneySuperMarket can help you find the best deal possible. All you need to do is give us a few details about yourself, your driving history, and the van you want to insure.
Remember you shouldn’t automatically go for the cheapest available policy – it’s better to aim for a balance between price and level of cover. This way you’ll find a policy that suits you perfectly, without risking being over- or under-insured.
