Van insurance for young drivers under 25
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Young driver van insurance
Just like with car insurance, young drivers tend to attract the most expensive premiums when it comes to van insurance.
This is because young drivers aged under 25 are statistically more likely to be involved in an accident and are therefore at a higher risk of making a claim on their insurance.
As vans tend to be bigger, more powerful and more expensive vehicles than cars, insurers will view a new and young driver with little experience to be a much higher risk of making a claim.
However, it is possible to find cheap van insurance for young drivers – if you know where to look and what to do to reduce the cost of the premium.
How to get cheap van insurance for young drivers
If you are under 25 and looking for van insurance, follow the below tips to get your insurance as cheap as possible:
Commit to a low annual mileage
Insurance companies ask for your annual mileage as a way of assessing the risk you pose. The more miles you do each year, the more likely you are to make a claim. Cheaper quotes will be given to those who say they will drive fewer miles – so make sure you are as accurate as possible with your annual mileage to avoid paying for cover you don’t need.
As well as being accurate with the mileage, you also have to be honest. However tempting it may be to put a very low mileage figure, if you end up driving a lot more than you say you will you run the risk of your policy being invalidated – which would work out a lot more expensive in the long run!
Increase the excess
The excess is the amount you pay towards any claim you make, so can be used to reduce the financial exposure of the insurance company for covering you. The higher the excess you are prepared to pay, the cheaper the quote.
This can be a great way for young drivers to get the cost of van insurance down while they work up a few years of no claims, but it is important that you only stick to an excess amount you can actually afford.
Part of the risk associated with insuring any vehicle is the likelihood of it being stolen or damaged by vandals. That’s why insurance companies will ask you where you intend to park the van on a regular basis (i.e. on the road, in a garage, on a driveway etc.) and what extra security measures the van has.
If you have fitted an alarm to the van, or an immobiliser or other anti-theft locking devices then the insurance company will see the risk of the van being stolen as a lot lower – and therefore will quote a cheaper premium.
Stick to basic cover
There are lots of extra features that can be added to a van insurance policy, including breakdown cover, legal expenses cover and so on.
If you are a new and young driver it may be better for you to avoid all of the extras and just stick to the basic cover you require. If you are keen on keeping the cover as cheap as possible then there’s really no point in paying for cover options you don’t actually need, so be vigilant when arranging your insurance and keep it as minimal as possible.
However, it’s important to make sure you don’t leave yourself too exposed in the event of a claim – so be sure you arrange sufficient cover for what you plan to use the van for.
How old do you have to be to drive a van?
Whereas the age you can drive a car or ride a motorbike on UK roads is quite clear, with vans it’s a little bit more complicated and depends mostly on the size of the vehicle.
Light commercial vehicles – up to 3,500 kg
If you hold a full UK driving licence, you are allowed to drive a category B vehicle – which is any van that weighs up to 3,500kg (3.5 tonnes).
These are classified as light commercial vehicles (LCVs) and include the more common vans you see on UK roads such as Ford Transits or Mercedes Sprinter vans. So if you are old enough to have a full driving licence, you are old enough to drive these types of vans.
Vans weighing more than 3,500 kg
Larger vans that weigh over 3.5 tonnes can only be driven if you are aged 21 or over.
However, if you have a full driving licence and have passed a Driver Certificate of Competence (CPC) qualification you only need to be 18 to drive a larger van with a high payload rating.
The definition of a minibus is a van that can carry between nine and 16 passengers.
If there are no passengers on board then you are allowed to drive a minibus at the age of 18. If there are passengers on board then you have to be over 21 to drive a minibus.
If you need help with finding cheap van insurance for young drivers, start comparing quotes with Bobatoo now…
How much is goods in transit insurance?
The cost of goods in transit insurance tends to be dependent on what goods you transport and how often you transport them – so a haulage company with lots of national and international customers will likely face higher premiums than a local courier service.
As premiums are generally calculated based on your own individual needs, it is difficult to provide an estimate on how much goods and transit insurance costs. GiT insurance is also often bundled together within other policies such as public liability insurance, so the price can also vary depending on the particular deal your insurance company or broker offers for wider coverage.
Standalone goods in transit policies tend to start around the £100 mark, and can be available on a pay monthly basis or to pay in full for the year.