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Why do you need a young driver’s van insurance?
Unfortunately for young drivers – regardless of what they are behind the wheel in –statistics are stacked against them. That’s because drivers aged 24 and under are more likely to be involved in an accident than other age groups, survey after survey tells us.
As a result, insurance premiums for young motorists can be very high. And van insurance is often higher than car insurance, thanks to the fact insurers believe a van is more likely to be broken into (because its contents are often valuable). So, if you happen to be on the hunt for young driver’s van insurance then it’s more important than ever that you shop around to get the best deal for you.
Business van insurance. If you happen to use your van for business purposes i.e. as a self-employed plumber, joiner etc or as a contractor/employee for a firm then you will need to be covered commercially. This can take several forms, such as:
- Carriage of own goods. This is the insurance cover you will need if you carry tools around daily for work.
- Carriage of goods for hire. This type of young driver’s van insurance cover is for delivery drivers i.e. florists, pizza couriers, parcel drop-off drivers etc.
- Haulage. This is for larger vans used by truckers on long journeys e.g. drivers taking supermarket foodstuffs from one end of the country to the other, or even to and from the continent.
Private van insurance. This is when you use your van on a social basis i.e. going from A to B to meet friends, for a trip to the supermarket, on weekend trips etc. As with commercial young driver’s van insurance, there are three different types of policies you can choose from – third-party, comprehensive or third-party fire & theft.
Tips on getting the best value young drivers van insurance
- Always compare insurance companies online. You can make quite a saving this way if you take some time to read through a fair number of policies.
- If you don’t have a lot of money to spend on young driver’s van insurance then go for the most basic package available i.e. insurance that’s stripped of any extras such as breakdown cover, a replacement van in the event of an accident etc. Anyway, it may be cheaper to get breakdown cover elsewhere.
- Put your excess as high as you can afford. That’s because, the higher the excess, the lower the premiums (just make sure you will be able to afford that excess should a claim prove necessary).
- Security is incredibly important when it comes to calculating van insurance so it’s always advisable to get the best kind you can. That means, if possible, an alarm, immobiliser, tracking device and/or even a telematics box. It’s important to check with whoever you have insurance with beforehand that they recognise the particular brand of security you intend to install (some companies will only reduce rates for devices from particular manufacturers).
- If possible, park the van in a locked garage at night. Other ‘reasonable’ alternatives include parking it in a private driveway or a secure car park. If you have to park your van on a public road overnight then you can expect your young drivers van insurance premiums to rise considerably.
- Try and stick to low mileage. The way insurance companies view this is that you’re on the road less so your chances of being in an accident are similarly lessened.
- Some companies will recognise young drivers’ additional test qualifications and reduce the cost of insurance premiums. Tests include PassPlus, Any Driver BTEC, IAM, Max Driver and DX Dynamics.
- Building up a no-claims bonus is always helpful for getting cheaper van insurance. Some insurance companies will take into account a motorcycle no-claims bonus for van insurance so it’s always worth asking.
- Always be truthful. ‘Massaging’ particular facts (i.e. falsely claiming an older family member is the main driver or underestimating the number of annual miles you drive) because you believe this will give you a less expensive insurance quote can backfire badly. That’s because if you do have to make a claim and are ‘found out the company will simply invalidate your insurance and you will have to pay the whole lot from your pocket.
- It’s not always easy to do – especially when your insurance is high, to begin with – but if you can, try and pay it all off in one lump sum rather than monthly payments. You will always save a bit of money this way.
- If you haven’t already bought your van then get one which is in a low insurance grouping i.e. that’s small and light.
- Do you need a van? Could you perhaps manage with a car until you’re aged 25 – at which point your insurance quote will drop dramatically?
Frequently asked questions
Is it a legal requirement for me to have van insurance?
Yes, absolutely. The only exception being if you had declared your van off the road by filling out a SORN form.
I’m 21, have been driving for a year, and wondering if I need to get a telematics box?
The short answer is ‘no.’ However, be aware that it will work out cheaper for you if you do and that some insurance companies will even refuse to give you cover without one.
Why do insurance companies lump all young drivers under the same heading of ‘high risk’?
Car insurance companies don’t know you from Adam, as it were. In other words, all they have to go on to work out claims is facts and statistics. And, unfortunately for young drivers, it’s their peers who are having all the accidents. Statics show that it’s not unusual for around 40 per cent of young drivers in the UK to be involved in some sort of road accident before the age of 23.
What’s the difference between a car and van insurance (apart from the obvious ie they’re for different types of vehicles)?
With van insurance, you will be covered for commercial (work) use, as well as the contents of the van – which you might also use for work ie tools, materials etc.