Van Insurance Hike

O

Onceagain

Registered User
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138
Why is it that a driver with no penalty points, 10+ years no claims, who paid €414 last year will have to pay €688 this year??
 
because motor insurance rates have increased substantially. You havent read the papers in the last few months, listened to the radio?? :eek:
 
Peteb :confused:, Yea I have heard the news, however was surprised as most people I have spoken to went up €100 - €150, not €300+. Hence my question.
Did shop around with no luck.
 
In our experience, commercial vehicles and fleet policies have been especially hit with these increases. Insurers have quoted a general (not specific to individual clients) poor loss ratio on CV policies, not sure how true that is though..

Things that can help (some bit) to reduce the cost are: review the value of your van (remember insurers will not pay VAT if you are registered for VAT after a claim) and make sure it is correct. Remove any additional drivers you don't need (open drive is now an expensive option for most insurers, do you really need it?). Adding a spouse to your van may reduce the cost further. Make sure your insurer has your correct occupation noted as this can affect the premium a lot. Look at taking a higher excess.
 
Did that Jim:
  • Reduced value of vehicle
  • No driver other than myself on vehicle
  • No open drive (I have it on my private car insurance)
  • Has correct occupation noted

Still went from €400 to €600.
 
Its a tough one to take Paddy, and it looks like things will get worse before they get better.
 
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