Van insurance premiums rise sharply in last quarter
Van insurance premiums have increased by 2.4% over the past 12 months, according to the latest Consumer Intelligence Van Insurance Price Index.
This comes after a sharp rise of 4.3% recorded in the last three months.
It found that the average quoted premium for vans was £1,767 in May compared to £1,720 in the same month last years.
A more granular look at the figures found that premiums for vans aged under two years old rose by 8.1% in the last quarter, while those aged between three and four years were up by 6.4%.
Meanwhile, vans in the five- to eight-year category saw premiums increase by two per cent in the last quarter, and those aged nine and over saw three per cent price hikes.
In terms of ages, drivers aged 25-49 saw an average four per cent rise in premiums, although premiums fell by 0.8% and 2.4% for under 25s and over 50s respectively.
Van insurance premiums have now gone up by 198% since Consumer Intelligence began tracking prices in April 2014, with quoted premiums for drivers aged 25-49 up 224% in that time compared to 206% for those over 50 and just 87% for those under 25.
