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Compare Young Driver Van Insurance

If you’re a younger driver under the age of 25, you may be finding it hard to get a cheap deal on your Van insurance. Shopping around and comparing deals is crucial if you want to save money. Although younger drivers typically experience higher premiums, we’ll explain the reasons why and guide you through the steps you can take to help lower your premium.

van insurance for young driver

Why do young drivers pay more for insurance?

When calculating insurance premiums, it all boils down to risk. If you present a higher the risk, there’s more chance of the insurance company having to pay a claim. Unfortunately, younger drivers fall into one of, if not the most high-risk category when it comes to insurance.

Statistically speaking, 1 in every 4 Van drivers aged between 18 – 24 is involved in an accident during their first 2 years behind the wheel. That represents 23% of all motorists. Since the insurance company will be well aware of these stats, your going to see a rise in your premium as a direct result of your age.

When further understanding why Van insurance for young drivers is so expensive, you’ll also need to consider a number of additional factors that play a role in calculating risk, and therefore price. Unfortunately, as a young driver, you’ll be penalised heavily if you fall foul of the law or have any previous claims.

  • Previous Claims

    Besides age and how long you’ve held your licence, the insurance company is also going to look at your driving record. If you have previously made claims or had claims made against you, this will effect your ability to build up a no claims bonus and will have a negative effect on the price of your premium.

  • Driving convictions

    If you have been convicted of a driving offence, regardless of the severity, your going to pay the price with a higher premium. Any points you receive as a result of a driving conviction will remain on your licence for between 2 and 6 years. These will need to be declared when taking out insurance for the first time or during your renewal for the entire time they remain on your licence. Convicted drivers are generally seen as higher risk and the premium will be effected accordingly.

  • Where you live

    Insurance companies will use your address along with national crime statistics to determine if you live in an area which presents high risk of theft. In many cases, you can help reduce the risk of theft or damage by parking on a driveway, in a garage or in another secure off-road location.

  • Your Van

    The type of Van you drive will play a big role in the cost of your premium. Vans with bigger engines are statistically more likely to be involved in an accident. As a young driver, you should choose a Van that falls into a low insurance group and should avoid modifications to the vehicle.

  • Level of cover

    The cost of your premium will be effected by the level of cover you choose. Third party only is the cheapest way to legally drive on the road but comes with a number of downsides in terms of how well you’re protected. Fully comprehensive on the other hand offers the best all round protection but comes a higher price.

What the best level of cover for a young driver?

Drivers of all ages will have access to three main levels of cover when it comes to Van insurance. The type of cover you choose will depend on your individual circumstances and more importantly, your budget.

Depending on what you plan to use the Van for, you should always carefully consider if your insurance policy is adequate in the event you need to make a claim. If you are insuring a Van for business use, you’ll want to limit any potential loss of business or financial burdens from having insufficient cover.

  • Third Party Only

    This will undoubtedly be the cheapest option and its only natural that younger drivers will be attracted to this type of policy. However, its worth noting that should you have an accident, you wont be covered for repair or replacement of your Van. This could have severe financial implications if you reply on your Van for work.

  • Third Party, Fire & Theft

    As a middle ground insurance policy, third party fire and theft ensures you’re covered in the event your Van is stolen or damaged by fire. You still wont be covered for repairs or vehicle damage caused from an accident.

  • Fully Comprehensive

    This type of policy ensures that your Van gets repaired or replaced following an accident, regardless of who was at fault. As a result, comprehensive young driver van insurance policies tend to be more expensive but provide total peace of mind from both a business and a financial standpoint.

How can young drivers save money on their Van insurance?

With the statistics mounting against you, you may be feeling like there’s no hope of ever getting a good deal. While there may be many things out of your control, there are some steps you can take to help reduce your premium while ensuring that you build a good history for future renewals.

  • Compare, compare, compare!

    Some insurance companies are specially geared up for young drivers, while others will look to periodically change their target demographic to diversify the overall risk of the company. The only way to know which insurance companies are best for young driver Van insurance is to compare quotes with vaninsurance.co.uk. You’ll get instant access to exclusive deals designed specifically for younger Van drivers.

  • Look to lower your insurance group

    As a young driver, you need to look at the cheapest Vans to insure. Buying a Van with a lower insurance group is the easiest way to getting a cheaper quote. Aim for a newer Van with a smaller engine and vehicle payload and you’ll soon see your quote drop.

  • Increase your Voluntary excess

    Younger drivers will typically already have a high compulsory excess so you should always make sure this option is affordable. An excess is the amount you need to pay to the insurance company before they will process a claim. Since increasing the voluntary excess means you’ll be paying more upfront in the event of a claim, your likely to see a small cost saving.

  • Don’t modify your Van

    From an insurer’s perspective, anything that increases the risk of accident or theft is not going to do you any favours. Modifications that alter the performance or looks of your Van should be avoided at all costs. Its also worth noting that failure to declare your modifications to the insurance company could void your policy and land you in serious trouble.

  • Add a named driver

    Adding an older driver with a clean licence and good history can actually help bring down the cost of insurance for young drivers. Any named drivers will, of course have to actually be using the Van on a regular basis.

  • Consider a black box

    Black box insurance for young drivers is still a fairly new concept but can help lower your premiums, especially if have a less than perfect driving record. A black box monitors how well you drive including your speed, how long you spend on the road and what times of the day you drive. If you drive like a saint, this will help lower the cost of your insurance however, if you fail to drive sensibly, you could actually increase the cost of your premium.

Drive safely and reduce your future premiums

So, there are a lot of aspects that will influence the price you pay for Van insurance as a young driver, especially during your first couple of years. Mistakes you make now could hider your progress to getting cheaper van insurance in the future. If you take on board some basic safety advice and drive carefully on the roads, you’ll be one step closer to a better deal further down the line.

  • Don’t break the speed limit

    Driving over the speed limit can endanger your life and that of other road users and pedestrians alike. Getting caught speeding by one of the few million speed cameras in the UK could land you 3 points, a fine or a driving ban. You’ll be paying the price for this on your insurance renewals for years to come.

  • Get a hands-free kit!

    Using your mobile phone while driving is now punishable with 3 penalty points and a large fine. There is no excuses for it, and you could be putting yourself and other road users at risk. Don’t take a chance, install a hands-free kit if you absolutely must use your phone while driving.

  • Wear your seatbelt

    Again, driving while you or your passengers are not wearing a seatbelt can land you a fine along with a few points endorsed on your licence.

  • Driving whilst under the influence

    This should be a no brainer. Yet still the UK see tens of thousands of prosecutions every year for drink and drug driving offences. If you get caught driving under the influence, your insurance premium rising will be the least of your worries. You could be imprisoned for this offence, especially if you caused injury or death to a third party in the process.

**Remember, get 6 points in your first 24 months of driving means you lose your licence. You’ll have to retake your test and you’re insurance company is going to weigh in heavy on your premium once you’re allowed to drive again. You could lose your job or your income. Drive safe, obey the law, and continue to benefit from cheaper insurance deals.**

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