Are you spending too much on your van insurance simply by leaving renewal until the last minute?
You could well be, according to the latest research from Confused.com, which shows that nearly half (49 per cent) of van drivers don’t buy their insurance until up to week before their renewal is due.
And almost one in five do this because they believe the date doesn’t affect the price (they are wrong).
Leaving it this late costs a whopping £1,698 on average, compared to shopping around earlier.
The data suggests that those looking for deals around three weeks before their renewal benefit from savings of up to £522, with the cheapest day to buy van insurance being 22 days before renewal, when premiums cost just £1,070 on average.
Nearly one in three (32 per cent) van drivers don’t know the date of their insurance renewal and more than one in three (35 per cent) generally let their insurance auto-renew, missing out on potential savings.
To help confused van drivers, Confused.com has created a guide highlighting the many ways they can reduce the cost. It can be as simple as shopping around a few days earlier than normal.
