Just as with car insurance, a young driver requiring van insurance ends up paying considerably more for his or her cover than someone in middle age. The reason for this is quite simple – he or she is more likely to have an accident and this is reflected in their van insurance premiums.
However, there are things that a young driver can do to reduce or contain the level of their premiums. Let’s have a look at some of those in a little more detail.
Level of cover
As you are no doubt aware, there are three levels of cover with those being fully comprehensive (the most expensive), third party fire and theft (the next most expensive) and third party van insurance (the cheapest). An option is to consider one of the cheaper levels of cover but you need to think very carefully about doing this as you will need to take into account such things as the value of the van and the fact that a young person, as stated above, is more likely to be involved in an accident.
Cheaper van insurance premiums may only be a short-term gain if you are responsible for an accident, seriously damage your own van and only have third party cover.
You will pay a lower premium if you are prepared to pay a larger voluntary excess.
Many young driver van insurance policies have optional extras such as legal expenses and breakdown cover but you usually have to pay extra for them so you may decide not to take them out thus containing your premiums.
By having an alarm, tracking device and engine immobiliser fitted could reduce the premiums for van insurance for young drivers.
If you park your van on your drive overnight or better still put it in your garage or a locked compound the premiums are likely to be lower than if the van is parked in the street all night.
Spend some time shopping around for cheaper young driver’s van insurance by using the likes of the Internet and a price comparison website like the one you are currently on.