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Van insurance premium hits mapped by recent study

Just how do your premiums compare with others across the country. Well, this article may make you laugh or cry ;)

"PREMIUM hits are mapped in new data from insurance comparison site - The Van Insurer - which reveals where van drivers are paying the most – and least – for their van insurance.

East London tops the premiums poll at just under £2,000 – five times the cheapest on the Isle of Man and Jersey.

The Van Insurer analysed 3.4 million quotes provided through their online system over the last three years, to February 2017, which reveals that van drivers in some areas are taking a huge financial hit when it comes to van insurance, compared to other parts of the British Isles.

Of the 20 most expensive postcode areas highlighted by the data, 15 fall within the M25, with another just outside. The other four most expensive areas are in the North West of England.

The cheapest places for van drivers to insure their vehicles include many of the least populated parts of the British Isles, but also some sizeable towns and cities.

The area with the most expensive van insurance is East London, with an average annual premium cost of £1,971. This is more than five times the cost of the annual premiums for van driving residents of the cheapest area, the Isle of Man, who pay £361 a year on average.

A breakdown of the 20 most expensive and cheapest locations can be found in the table below:

Top 20 most expensive places in the British Isles for van insurance Top 20 cheapest places in the British Isles for van insurance
Location Average annual premium Location Average annual premium
East London 1970.60 Isle of Man £360.69
East Central London 1851.90 Jersey £435.96
North West London 1802.43 Dumfries £449.90
Ilford 1727.43 Outer Hebrides £481.45
North London 1722.07 Exeter £486.77
Southall 1661.81 Kirkwall £488.83
Western Central London 1594.70 Galashiels £491.52
South West London 1571.54 Truro £500.31
South East London 1547.30 Inverness £511.86
West London 1503.77 Torquay £569.41
Harrow 1487.20 Llandrindod Wells £574.71
Liverpool 1468.61 Hereford £599.11
Twickenham 1351.10 Canterbury £607.02
Croydon 1308.84 Aberdeen £610.35
Sutton 1303.93 Dundee £611.38
Manchester 1300.12 Lerwick £623.44
Oldham 1286.85 Ipswich £623.59
Romford 1273.17 Llandudno £627.09
Slough 1268.15 Kirkcaldy £640.70
Bolton 1260.22 Norwich £641.05

The infographic below shows the five most expensive and five cheapest places in the British Isles to insure your van.


David Hort from The Van Insurer said: “Van drivers using our online quote system get the cheapest quotes available from the insurance providers on our panel.
“But, for drivers living in some places such as Greater London or some North West towns and cities, the chances are that their van insurance costs with any provider will be some of the most expensive in the British Isles, when comparing a like-for-like quote with drivers from many other cities and towns.

“Other factors that can have an impact on van insurance premiums include the age and experience of the driver, and the make, model and value of the vehicle.”

Hort added: “There are several ways that van drivers can help to bring down their insurance premiums over time, such as building up a no claims bonus.

However, some individuals, especially younger van drivers, can be at a big disadvantage money-wise just because of where they live and work.

“Our mission is to help drivers find the cheapest van insurance quotes possible for them, regardless of where they are based.”

Original article from businessvans.co.uk

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Replies

  • Gary, very interesting article and relieved that I am in the top 20 cheapest van insurance.
  • PRO
    Mine after I done a quote for business use is in the cheapest price band, but then again my tools are probably worth more than my old van!
    • PRO

      It's a commonly held belief that vehicle value is the prime element that affects premiums, in fact it's down the list with the driving record/experience, crime areas and cost of third party liability (so, thanks to the crash for cash and other ambulance chasing solicitors on daytime TV) being the main "drivers" - excuse the pun..

      • PRO
        Ahh, that makes sense. I've never had anything on my licence and live in an okay area. In that case, one day I have to get a nicer van if/when budget allows! :)
      • PRO

        When I first insured my (now previous) van the value of the van was about £500 but the insurance costs were 2.5k. A brand new 6 cylinder Sprinter would have only cost me and extra £1500.

  • PRO

    Booo - I'm in the top 20 most expensive :(

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