Electric van insurance: The tradespeople paying the most and least!
A new study has revealed the electric van insurance costs for 40 of the most popular tradespeople job titles, with mechanics getting the worst deal paying £1,159.91 per year.
Vanarama created an ‘average van driver profile’ to ensure the only variable changed for each insurance quote was the job title. The van used for this study was the UK’s best-selling electric van, the Vauxhall Vivaro-e.
Mechanics face the highest expense of £1,159.91 to ensure coverage for their electric van over a year. £1,109.64, is the next highest quote, which is given to five different trades including furniture removers, lift engineers, and refrigeration engineers.
Turning attention to the lower ranks of the leaderboard we can see that the trades securing the most affordable electric van insurance quotes encompass 20 different job titles.
Among these are those in professions such as stonemasonry, joinery, plumbing, plastering, and locksmithing, to name a handful. However, for these trades, acquiring insurance for their electric vans comes at a cost of £1,004.29, which is a substantial £155.62 saving in comparison to mechanics.
Top 5 tips for keeping your van safe and secure to reduce insurance costs
Tool theft is on the rise, and has been for a while. The latest statistics show a 62% increase in tool theft between January 2021 and October 2021 alone, with close to 35,000 incidents reported within just those eight months. The report from HertsTools also states that nearly four in every five tradespeople have experienced tool theft. So, it’s more important than ever to do what you can to keep your van and its contents safe and secure.
There’s also an additional benefit to keeping your van as safe and secure as possible. Doing so can help reduce your insurance premium!
1. Install advanced security features
Installing advanced security features, such as an immobiliser or a tracking device can not only deter thieves but will also provide evidence to your potential insurance provider that your van is at a lower risk of being stolen or broken into, which as a result, can help to reduce the cost you are quoted.
2. Don’t leave tools and/or valuables in your van
When feasible, refrain from keeping tools and valuables in your van during the night. This may be easier said than done in certain situations, but taking tools out overnight serves as a significant deterrent to potential thieves.
3. Remove ladders and/or any other equipment externally stored
If you have any external equipment, like ladders attached to your vehicle, take them off or ensure they are empty before leaving your van overnight. This may be a hassle if space is limited at home, for example, but the effort is worthwhile for the reassurance that your belongings are safe and secure.
4. Park in a safe location wherever possible
The optimal places for parking your van include outside your residence, preferably on your driveway, or better yet, within a garage. If street parking is necessary, opt for well-lit areas. You can also take extra measures to make sure your van is safe when parking on the street. Investing in CCTV cameras to surveil your van overnight is an option but can be pricey. Other solutions could include fake cameras, which act as effective deterrents or perhaps installing motion-detecting lights positioned outside your home.
5. Mark your tools and equipment with A UV pen
In the unfortunate event of a break-in and theft of tools or equipment from your van, it might not be the end of the road for their recovery. By using a UV pen to mark all significant and valuable items, you enhance the chances of retrieval. When reporting the theft to the police, the markings can serve as identifying features, enabling law enforcement to potentially track down and recognise your belongings.
Methodology: Following our car insurance reports in 2020, 2021, 2022 and 2023 this update switches its focus to van insurance, with a specific focus on the trade industry. We selected 56 of the most common trades, whittling the number down to a core 40 as some trades would not require their own van for self-employment purposes.
To reduce the variables and focus on the discrepancy in premiums on job title alone, our report has been created using an average driver profile, similar to ones used before, and covers many factors such as the driver’s location, relationship status and even where the car is kept at night.
In all cases, the cheapest premium available was taken from MoneySuperMarket for each job title. Data gathered November 2023.
