Do you need van insurance? Find out your options as a driver aged under 25
If you need van insurance and are worried it will set you back a fair amount because you’re a young and inexperienced driver, you may be right. However, you do have options. Read our guide to compare van insurance deals and discover ways in which you could save on your premiums.
Compare van insurance
Can young drivers get van insurance?
Young drivers should be able to find van insurance. However, the cost of the cover may be a setback.
An insurer will have its own set of eligibility criteria for van insurance and this may or may not include different terms regarding age. For example, some insurers may stipulate that drivers under 25 should have held a driver’s licence for at least six months, or if a driver is older than 25 years of age, at least three months. As another example, some other insurers may have an age limit and stipulate that the driver of the van must be older than 18 years old.
Check the eligibility criteria of an insurer carefully to understand if it can offer you and your van cover before proceeding with the application.
How much does van insurance cost for young drivers?
Insurers will look at several factors when calculating van insurance premiums. These factors can include the level of cover required, the age of the driver and their driving history, where they live as well as the make and model of their van, how much it’s worth and what it’s used for.
Unfortunately, as a young driver, you can generally expect to pay a much higher premium than an older and more experienced driver.
Why is van insurance so expensive for young drivers?
Insurers typically consider it more likely that young drivers will be involved in an accident resulting in more claims being made. This can mean that under 25s will usually be profiled as high-risk drivers and see much higher insurance premiums as a result.
Levels of cover
The minimum level of cover for all drivers in the UK is third party motor insurance. Van insurance is just the same and offers:
- Third party. If you are responsible for causing an accident, you’ll be covered for damage to third party vehicles or property. However, it won’t cover any damage to your own van.
- Third party, fire and theft. This will give the same level of cover as third party but will also provide protection against any fire damage to your van or theft of your van.
- Comprehensive. This gives the same protection as the lower levels as well as protecting your vehicle against accidental damage and vandalism. It might be cheaper than third party, or third party fire and theft, so always check.
How to get cheap van insurance for young drivers
If you’re planning to insure several vans under one policy, a few simple tips may help with your decision:
- Increase security. If your van is not currently fitted with an alarm, think about adding one to reduce your premium.
- Have a secure location to park your van. Vans kept on a secure driveway or locked in a garage are usually cheaper to insure.
- Limit your mileage. Letting your insurer know about a reduction in your mileage could result in cheaper insurance.
- Increase excess. Agreeing to pay a bigger voluntary excess could make your overall premium cheaper. But remember that your insurer won’t pay out for a claim that costs less than your excess. So be careful about making it too high, as it could leave you out of pocket if damage occurs.
- Limit optional extras if you don’t need them. Think carefully about which optional extras you really want as adding extra protection to your policy will generally push the price up too.
- Avoid paying monthly. If you can, try to pay for your premium in one go as you’ll pay interest if the premium is spread out over the year.
- Pick a smaller van. Choosing to drive a smaller van with a lower insurance group rating is likely to also lower your premium.
- Consider telematics insurance. Having a “black box” fitted to your van to monitor your driving could result in discounts if you drive safely.
- Shop around. Don’t automatically renew your van insurance when it’s up for renewal as you could end up paying more than you need. Shop around and compare your options to find the best deal. Keep in mind that the cheapest policy isn’t always the best policy so check the cover details carefully.
Frequently asked questions
*Disclaimer: Please take reasonable care to answer all the questions honestly and to the best of your knowledge. If you don’t answer the questions correctly, your policy may be cancelled, or your claim rejected or not fully paid.
The offers compared on this page are chosen from a range of products finder.com has access to track details from and is not representative of all the products available in the market. Products are displayed in no particular order or ranking. The use of terms “best”, “top”, “cheap”, including variations, are not product ratings and are subject to our disclaimer. You should consider seeking independent financial advice and consider your personal financial circumstances when comparing products.