- Drivers utilizing vans for work and people aged between 25 and 49 see the most important falls
- Van drivers had been mostly quoted premiums of £500 to £749 or £750 to £1,000 as suppliers begin to lower charges
Quoted van insurance coverage premiums dropped 4.7% within the 12 months to the top of Might and worth cuts are accelerating, in accordance with the newest Shopper Intelligence Van Insurance coverage Worth Index¹.
The three months to the top of Might noticed quoted premiums drop 4.2% as competitors elevated and main suppliers diminished charges.
Drivers utilizing vans for work and people aged between 25 and 49 have benefited probably the most – quoted premiums for folks utilizing vans for work dropped 5.8% and 5.6% for 25 to 49-year-olds.
Shopper Intelligence’s information reveals that in Might, 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 worth 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 Shopper 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 worth comparability web sites. The main model for aggressive share expanded its footprint additional, extending its lead by providing inexpensive choices to an rising variety of van drivers,” provides Vas.
Age Variations within the Previous Yr
Quoted premiums have dropped probably the most for these aged 25 to 49 falling by 5.6% within the 12 months to finish Might. Below-25s noticed quoted premiums drop 3.5% in the course of the 12 months whereas the over-50s skilled 1.6% falls in quoted premiums.
Round 44% of under-25s are actually in a position to supply a quote for lower than £1,500 in contrast with simply 32% in Might final 12 months. However 48% of these aged 25 to 49 had been in a position to supply a quote for lower than £750 in Might whereas 44% of over-50s may acquire a quote for lower than £500.
Lengthy-Time period View
Since Shopper 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 most important falls in quoted premiums with a drop of 5.8% within the 12 months to the top of Might 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 Shopper Intelligence started accumulating information, quoted premiums for Social, Home, and Pleasure functions have risen by 255.95%. House owners utilizing vans for Carriage of Personal Items have seen premiums enhance by 166.4%.
Word
1. For every threat, frequent 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 High 5 within the present month no matter which manufacturers offered these quotes. The train is repeated on every PCW for every frequent threat. The Total Market High 5 month-to-month variation is calculated by averaging throughout all these threat degree High 5 variations for frequent dangers run in each months. The month-to-month figures are concatenated as much as produce the trended worth index from a place to begin of 100% within the base month.
Van Insurance coverage Index
The unbiased authoritative supply of worth actions within the van insurance coverage market, utilizing actual buyer quotes from PCWs and key direct manufacturers.
