- Drivers utilizing vans for work and people aged between 25 and 49 see the largest falls
- Van drivers have been mostly quoted premiums of £500 to £749 or £750 to £1,000 as suppliers begin to reduce charges
Quoted van insurance coverage premiums dropped 4.7% within the yr to the top of Could and value cuts are accelerating, based on the most recent Client Intelligence Van Insurance coverage Value Index¹.
The three months to the top of Could noticed quoted premiums drop 4.2% as competitors elevated and main suppliers lowered charges.
Drivers utilizing vans for work and people aged between 25 and 49 have benefited essentially the most – quoted premiums for individuals utilizing vans for work dropped 5.8% and 5.6% for 25 to 49-year-olds.
Client Intelligence’s information reveals that in Could, the quoted premium for a brand new van insurance coverage coverage mostly fell between £500 and £749 or between £750 and £999 with 19% of quotes recorded in every value vary.
“The deflationary pattern began as we moved into 2025. Over the previous three months, many aggressive suppliers have lowered their charges,” says Laura Vas, Senior Perception Analyst at Client Intelligence.
“That’s most noticeable amongst manufacturers from a few of the greatest direct insurers serving to them to develop their share of the highest 5 positions and sustaining aggressive pricing on value comparability web sites. The main model for aggressive share expanded its footprint additional, extending its lead by providing reasonably priced choices to an growing variety of van drivers,” provides Vas.
Age Variations within the Previous 12 months
Quoted premiums have dropped essentially the most for these aged 25 to 49 falling by 5.6% within the yr to finish Could. Beneath-25s noticed quoted premiums drop 3.5% through the 12 months whereas the over-50s skilled 1.6% falls in quoted premiums.
Round 44% of under-25s at the moment are in a position to supply a quote for lower than £1,500 in contrast with simply 32% in Could final yr. However 48% of these aged 25 to 49 have been in a position to supply a quote for lower than £750 in Could whereas 44% of over-50s might receive a quote for lower than £500.
Lengthy-Time period View
Since Client Intelligence began monitoring quoted van insurance coverage premiums in April 2014 common total quoted van insurance coverage premiums have elevated by 191.0%.
Quoted premiums for the under-25s have elevated the least at 88.5% for the reason that launch of the index in contrast with will increase of 211.6% for these aged 25 to 49 and 213.1% for the over-50s.
Kind of Cowl
Tradespeople noticed the largest falls in quoted premiums with a drop of 5.8% within the yr to the top of Could and by 3.9% up to now three months. Drivers utilizing their autos for Social, Home, and Pleasure functions noticed quoted premiums drop by 1.1% up to now 12 months and by 4.9% up to now three months.
Since Client Intelligence started gathering information, quoted premiums for Social, Home, and Pleasure functions have risen by 255.95%. Homeowners utilizing vans for Carriage of Personal Items have seen premiums improve by 166.4%.
Be aware
1. For every danger, widespread to consecutive months, the variation is calculated from the common of the 5 least expensive premiums returned on every PCW within the earlier month to the common of the Prime 5 within the present month no matter which manufacturers supplied these quotes. The train is repeated on every PCW for every widespread danger. The General Market Prime 5 month-to-month variation is calculated by averaging throughout all these danger stage Prime 5 variations for widespread dangers run in each months. The month-to-month figures are concatenated as much as produce the trended value index from a place to begin of 100% within the base month.
Van Insurance coverage Index
The impartial authoritative supply of value actions within the van insurance coverage market, utilizing actual buyer quotes from PCWs and key direct manufacturers.
