Getting cheap Van insurance for under 25’s can be a challenge, especially if you’ve just passed your test or have a less than perfect driving record. Shopping around to compare the various deals on offer is the only way to really know if you’re getting the best deal. Younger drivers are ladled high risk and will therefore always pay extra for their insurance premiums. Let’s explore how you can save money when comparing Van insurance for young drivers.
Why is young driver Van insurance so expensive?
When insurance companies calculate your annual premium, they take into consideration many different factors to determine the overall risk you pose and what the likelihood is of the insurer having to pay a claim. Age is one of the primary factors that affects the cost of insurance for young drivers.
Young drivers are always going to be flagged as high risk. This isn’t age discrimination but rather a statement of fact based on years of statistical data. Younger, less experienced drivers are more likely to be involved in an accident. In fact, 1 in every 4 Van drivers between the age of 18 – 24 will be involved in an accident during their first two years behind the wheel. That makes up a staggering 23% of all motorists in the UK.
While it may feel like the odds are stacked against you when looking for cheap young driver Van insurance, there are still a number of ways you can help reduce your premium. Understanding how your premium is pieced together is the first step so saving money.
Where you live and where the vehicle is kept overnight are key factors that can affect the cost of your premium. Insurance companies refer to the national crime statistics and evaluate risk based on where you live in the UK. If you live in an area that has a historically high crime rate, you’re going to see an increase in your premium.
Since moving addresses isn’t something thats easily done, there are other things you can do to help. Parking off road or in a garage overnight and emptying you van of cargo, tools, and personal belongings each night will help reduce your insurance quote somewhat.
Making a claim on your insurance is always going to have a negative effect on the cost of your insurance renewal. Making a claim as a young driver is going to be significantly worse. You need to prove to the insurance companies that you’re a safe driver. Be careful on the roads and avoid having to make unnecessary claims.
As a young driver, falling foul of the law of going to follow you around for many years. Regardless of the severity of your driving offence, any points you accumulate will remain on your licence for between 2 and 6 years. You’ll need to declare these to the insurance company each time you get a renewal quote. Get 6 points in your first 2 years and you’ll be automatically banned, will have to re-sit your test and will find it almost impossible to get insurance cover at a fair price.
What Van are you driving?
Young drivers should stick to Vans in lower insurance groups. You’ll most likely be refused insurance for a Van in a high insurance group anyway but it goes without saying the higher the group, the higher the premium.
Your level of cover
Insurance premiums will always go up or down depending on the level of cover you choose. Whilst third party only is the cheapest way to legally drive on the roads, it doesn’t offer much in the way of protection should you be involved in an accident. Fully comprehensive on the other hand provides ultimate peace of mind but comes at a much higher annual cost.
What level of cover is best for young Van drivers?
Regardless of age, anyone that needs Van insurance will have access to different levels of cover. Depending on the Van you’re looking to insure, you’ll usually be offered a choice of third party only, third party fire and theft and fully comprehensive.
Where young drivers are concerned, the best level of cover will be determined by the proposed usage of the Van and of course the individual circumstances and budget of the policy holder. Whichever level of insurance you choose, make sure that the cover will adequately protect you should you need to make a claim. While insurance seems expensive, having insufficient cover can have huge financial implications, especially if running a business.
Third Party Only
Younger drivers may be tempted by third party only insurance due to its lower cost. That said, it’s not recommended, especially if you rely on your Van in order to run a business or make a living. Third party only does not cover the cost of repairing or replacing your van should you be in an accident or victim to theft and instead covers only injury or damage caused to other road users, their vehicles, or their property.
Third Party, Fire & Theft
Third party with added fire and theft protection is a middle ground level of insurance and is the minimum amount of cover you should be considering as a young driver. At the very least, you have the added protection from both fire and theft of your vehicle. Third party, fire & theft is a popular choice among younger drivers but still has limitations which some are happy to leave to chance.
Fully comprehensive cover will ensure that no matter who’s at fault, your van will be repaired or replaced should you be involved in an accident or subject to theft. As a result of the comprehensive nature of this type of policy, it does come at a premium price. For business use, fully comprehensive is always recommended, regardless of whether or not you are a younger driver under 25.
How to get cheap Van insurance for young drivers?
While statistically your classed as a high risk, you’ll still need to shop around and compare young driver Van insurance if you want to stand a chance of getting a good deal. While the factors effecting the price of your premium are largely out of your control, there are some steps you can take to help further bring down the cost of your young persons Van insurance.
Compare as many providers as you can
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.
Choose your Van wisely
You should aim to buy a Van that meets the needs of your intended use. Don’t be tempted to buy a bigger or more powerful Van if you don’t need to. Keeping your insurance group as low as possible is key to getting cheap van insurance for young drivers. Look for a newer Van with a smaller engine and payload and you’ll keep the costs to a minimum.
Once you’ve got your Van, don’t be tempted to modify it. Modifications that change the vehicle from its standard factory set up are seen to pose a higher risk of either accident or theft, especially where performance has been altered. Any modifications will cause your premium to rise considerably. Even if modifications were made after you took out your policy, you’ll still have to declare them to your insurance company. Not declaring modifications can invalidate your insurance and land you in some serious financial trouble.
Add an older driver
If possible, add an older, more experienced driver to your policy. This can, in a lot of cases, help bring down the cost of your insurance as you’ll be sharing the risk with someone not deemed a high liability. You have to make sure of course, that any named drivers are actually using the vehicle on a regular basis.
Add black box
Black box technology is still fairly new but can reduce the price of your premium considerably if you drive sensibly. A black box will track your millage, speed, and what times of the day you’re out on the roads. Not being out at night, staying to the speed limit and spending less time on the road can help with reducing insurance costs. Be warned though, if you break any of the set conditions, you may actually end up paying more for your cover.
Tips for getting the Best young driver Van insurance in the future
Being a young driver won’t last forever. But until your over 25, you’re going to carry the high risk label with you, regardless of where you purchase your cover. With that in mind, it’s important to make sure you’re doing everything you can to help protect your no claims discount while paving the way to becoming a safer, more experienced driver at the same time.
Stay within the speed limit
Speeding carries a minimum 3 points on your licence and a fine of £100. If you’re caught doing double the speed limit or over 100mph on a motorway, you’ll receive an instant driving ban. Points, fines, and convictions don’t sit well with insurance companies and certainly won’t help bring the cost of your premium down.
Don’t use your phone while driving
Even having your phone in your hand while driving can land you in trouble. In recent years, police have started to crack down on drivers that use their phones while behind the wheel. You’ll now get 3 penalty points and a fine if prosecuted. If you need to use your phone while driving, get a hands free kit.
Wear your seatbelt!
Not only is this for your own safety and that of your passengers, but not wearing a seatbelt is an offence prosecuted by law. You’ll get a fine and points for EACH offence, meaning if there are 2 people in the Van without seatbelts, you’ll be charged twice.
Don’t drive under the influence
Driving under the influence of either drink or drugs carries a hefty fine, an automatic ban, up to 12 points and potentially imprisonment. Insurance companies are going to come down heavily on your premium, that’s if they decide to give you a quote at all.
**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