Van insurance premiums down a quarter in 18 months
Van insurance premiums are 19% lower than they were this time last year and 26% below average prices recorded in the summer of 2024.
This is according to Pearson Ham Group’s Van Insurance Price Index, which also found that premiums have come down 4.4% in the last three months and 7.6% in the last six months.
However, the overall decline masks significant variations between providers, with some van insurers reducing premiums by 33% in the last quarter and others by just six per cent.
The data also found that price reductions have not varied significantly by region or age, with the North East seeing the smallest year-on-year drop (17%) and London enjoying the largest (21%), while drivers under 26 saw premiums fall by an average of 22% and those aged 61-70 enjoyed decreases of 16%.
Stephen Kennedy, director at Pearson Ham Group, said: “A year and a half of sustained easing has reshaped the competitive landscape in van insurance. Prices have fallen month after month since June 2024, but this overall trend is far from uniform.
“Some carriers are pushing rate reductions aggressively, while others are holding back. That divergence is now a defining feature of the market and explains why individual insurers’ performance often deviates from the industry average.”
