Tradespeople could save hundreds of pounds on their van insurance by organising it weeks ahead of the renewal date, according to new research from Confused.com.
Utilising its customer data, the company found the average premium for those who run a quote between 0-48 hours of inception is £1,101. This is 32% (£265) more than those who run a quote 22 days before (£836).
Confused.com reports that 75% of van insurance purchasers run a quote within 48 hours of their inception date. Tradespeople could be save hundreds on their premiums by buying/renewing their van insurance in advance, according to the company.
The research also found that van drivers are more much more likely likely to leave their renewal to the last minute, with over a quarter (26.1%) of all van owners run a quote on the renewal date compared to 1 in 6 (14.9%) car drivers.
Amanda Stretton, Motoring Editor at Confused.com, commented: “A worrying number of van owners are leaving buying their insurance to the last minute – a mistake that is costing them up to £200, on average. According to our data, van owners should consider shopping for insurance around three weeks before their renewal date in order to optimize savings.
"Our go-to guide highlights the many other ways van drivers can save on their insurance. It can be as simple as shopping around earlier, or tips such as making the van more secure, which will also make it less prone to theft.”