Finally some good news for those drivers eager for cheap van insurance; it has been revealed by the AA that during the first three months of 2010 the cost of motor insurance premiums fell by 3.2%.
This fall has astonished may industry insiders, who were fast believing that cheap van insurance was about to become a thing of the past.
This pessimistic view had been supported by figures from 2009, which showed that that there was an 18.7% rise in motor insurance premiums during the whole twelve months.
An AA spokesperson commented, "Most years we have seen insurers hold their premiums during the first quarter of the year, when there is greatest competition for business. It's when most cars are sold and historically, it's when most… policies are renewed.
"Last year, for the first time, premiums rose during the first quarter and I expected the same to happen this year. However, while many insurers have shown modest increases, the quarterly fall can be mainly attributed to a drop in some expensive broker rates bringing them more in line with the market average."Â
However, experts warn that it is likely that the drop is only an aberration. As such, it is probable that the best hope commercial vehicle drivers have of receiving a cheap van insurance premium would to be compare quotes.