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Last updated: 06 May 2020
All drivers need to be insured, but just like car insurance, van insurance for young drivers can be expensive. In some cases, van insurance for young drivers can be double that for older and more experienced drivers. We take a look at how to keep your van insurance costs as low as possible.
Who counts as a young driver?
Anyone between the ages of 17 and 24 is typically considered a young driver by insurance companies.
If you are between the ages 17 and 24, it’s likely to be more expensive to get van insurance because insurers generally think of you as higher risk. This is because young drivers are statistically more likely to be involved in an accident.
How expensive is van insurance for young drivers?
The cost of van insurance for young drivers will vary depending on the policy, the insurer and the van.
You can be fairly confident that insuring a van as a young driver will be more expensive than your average van insurance policy. Sometimes, van insurance for someone under 24 can be double the price of van insurance for an older driver.
Why is van insurance more expensive for young drivers?
Van insurance for young drivers can be significantly more expensive than van insurance for older drivers.
Young drivers tend to have less experience or are new to driving. This means that statistically, younger drivers are at a greater risk of being involved in an accident, and therefore making a claim. Insurers view young drivers as a higher risk and so insurance premiums are much higher.
Van insurance for young drivers can be very expensive, but it is still a legal requirement. It’s essential to be insured on any vehicle you want to drive.
If you are a young driver, compare van insurance
quotes to make sure you are only paying for what you need.
How can young drivers lower their insurance premiums?
Insurance companies use a range of factors to calculate premiums. This will include the van you are driving, as well as information about you and where you live. The type of cover you are looking for is also relevant.
As a young driver your insurance will be more expensive. If you live in an area with lots of crime, as many students do, your insurance premiums will also be higher.
To keep your insurance costs low you might want to consider:
- Driving a small, lightweight van as this will be in a lower insurance group and therefore cheaper to insure.
- Reduce your mileage. If you spend less time on the road then you are at a lower risk of claiming.
- You might want to take out a black box, or telematics policy. This allows insurers to monitor your driving and good driving is rewarded with cheaper insurance.
- Secure your van by installing additional alarms or immobilisers. If possible, keep it locked in a garage overnight.
- You may even consider paying a higher voluntary excess on your policy as this can reduce your premiums. However, make sure that you are not committing to pay more than you can afford.
- Add another driver to your policy. This can reduce the cost but it’s vital you don’t pretend they are the main driver if they are not! This is called fronting, and is illegal.
How much cover should I get?
Different levels of cover come at different prices. There are there levels of van insurance cover available:
- Third party only cover will only cover the other driver or vehicle if you are involved in an incident. You and your vehicle will not be covered at all.
- Third party, fire and theft covers third parties as above, but it also covers your own vehicle if it is stolen or involved in a fire.
- Fully comprehensive cover is the highest level available. It covers third parties and your own vehicle whether the damage is your fault or not.
Make sure you choose affordable cover, but remember that how much cover you choose will drastically affect assistance after a collision.
It may be tempting to choose a lower level of cover to save money, but if you are involved in an accident this may not work out. Balance saving money with your needs as a driver by comparing van insurance