comparing van insurance

We all know that van insurance costs are outrageous right now, but 29.5% more? That is how much more van drivers are expected to pay in 2017.

That’s right. New official figures are just in, and what they are basically saying is that van insurance is now 29.5% more expensive than last year.

Many hard working van drivers from around the country have been left bewildered by this news, with some commenting they just “can’t believe it.”

The figures, which were uncovered by Consumer Intelligence, went on to say that an average van insurance policy is now priced at £1627.

Just what is going on here? According to experts within the industry, it has a lot to do with new changes in the sector, which is hitting many van insurance companies hard.

For example, the Ogden rate is currently at 0.75%, while this time last year it was at 2.5%. What this basically means is that insurance companies now have to pay out more for injury claims, but of course, it’s really you who is paying for it.

Then we have the insurance premium tax, also known as the IPT, which recently went to an unprecedented 12%. It was only half that 18 months ago.

As we all know, it’s the customer that has to pay for this expensive tax, and that is why we are now seeing van insurance quotes that many can’t believe.

It’s got to the point where van drivers are being quoted 2 and half times more than car drivers, and the average car insurance policy is £1000 less than the van equivalent

This is despite the fact that many van owners now have light commercial vehicles, also known as LCV, which in many cases are not much bigger than your average car.

The figures don’t get any better for van drivers either, as it was also reported that if you take out a “carriage of own goods” policy then you can expect to pay another 28% more, while a “social, domestic, and pleasure” policy is 32.5% more.

A spokesperson for Consumer Intelligence had this to say, “choosing the correct cover is vital, and shopping around will reduce premiums.”

I agree with that comment. If there is one thing that every van driver in the UK can do to fight back against these crazy prices it is to use a comparison website.

That means when you are looking for a new quote, or want to renew an existing policy, instead of just getting 1 quote or going with the same old van insurance company, what you want to do is shop around and get as many quotes as possible.

Comparing van insurance is the only way to find cheap quotes, and you can get started right here.

Research by a well known insurance comparison website has just gave us some interesting facts, but it doesn’t make good reading for van drivers.

What they have found, is that on average, van drivers who do not switch van insurance companies at renewal time are losing out, at about £350 a year.

Not only that, but even smart van drivers who do shop around…even they usually end up losing money. Do you know why? Because they don’t do it at the optimal time.

During their research, this insurance comparison website found that van drivers who make it their goal to switch insurance companies 4 weeks before their renewal date saved the most money, while those who waited right until the last minute typically paid more on average.

The good news is that the law is on your side, as your van insurance company now has to tell you what your insurance cost was last year when it comes time to renew. They also have to announce that comparing van insurance is a great way to save money.

I’ve been saying this for years of course. It appears that everyone in the government agrees with me and all of those van insurance companies do as well.

Sure, they might not enjoy having to tell van drivers to visit a comparison website like the one you are on right now, but at least they are doing the right thing.

Now that van drivers understand they are wasting £350 a year on insurance, will they actually do anything about it? Unfortunately not it seems, because in the last part of the research it clearly says that despite consumers being more educated about the benefits of comparing insurance and switching companies, most people simply put it off, or forget about it, or leave everything to the last minute.

Hopefully, you are not one of these people, and you are on this van insurance comparison website right now because you want to get the best deal.

That is our number 1 goal, and if you take a few minutes of your time to fill in the simple form, then you will instantly start getting quotes from many different companies.

You can then choose the best deal and switch companies if you need to, and although we can’t guarantee you will save £350, you don’t know exactly how much you could save until you give it a try.

Remember, don’t wait right until your renewal time to start comparing van insurance quotes. The optimal time is 4 weeks before.

Tag: comparing van insurance

29.5% More? Van Drivers Can’t Believe It

You Could be Wasting £350 a Year on Van Insurance

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