Confused.com

Plumbers in the UK are over-spending on their van insurance when leaving it to the last minute, new data reveals.

According to data held by Confused.com, more than one in two (53%) plumbers buy their van insurance 48 hours or less before their renewal date, which is costing them a whopping £854.60, on average.

Meanwhile, those shopping around the three-week mark are benefitting from savings upwards of £145. According to the data, the cheapest day to buy van insurance is 22 days ahead of renewal, when premiums cost just £706, in comparison, on average. This suggests that being that little bit more organised could in fact save Plumbers £147 (17%), on average.

If you’re self-employed or a tradesperson, it’s likely a van is an essential part of your day-to-day business. Running a van doesn’t often come cheap, so it could account for a large part of your expenditure. 

Figures show rising claim costs are increasing van insurance premiums, which are now £1,344 per year on average. To help you save on avoidable costs, Moneybarn has put together some top tips to consider when choosing van insurance.

Size matters

When purchasing a van, smaller sizes tend to have lower insurance premiums. However, you need to make sure the size of the van is suitable for what you need. For example, if you’re not going to be transporting goods, it’s worth considering whether you really need a big transit.