Premium news - Consumers compare van insurance, premiums rise

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10/08/2010

Cheap quotes getting harder to find

It is expected that the pressure on van drivers to compare van insurance options in the hope of finding a cheap quote will grow over the coming months after two of Britain's biggest insurers, AVIVA and RSA revealed that they were putting up the cost of premiums.

Although the swathe of consumers who choose to compare van insurance online has led to intense competition among the market, with many insurers cutting the cost of premiums as a result, the industry has warned that this level of competition is no longer sustainable.

Other pressures, including the cost of personal injury claims, are another factor.

AVIVA's head of insurance comments, "It is not surprising that rates have continued to harden this year. If you look at the underlying inflation in bodily injury claims that we have had in the market for the last three or four years, in many respects it is surprising rates didn't harden sooner.

"There is no sign of a let-up in this inflation, so I expect this market phenomenon to continue."

Although such statements do not spell good news for the drivers of commercial vehicles, for many it is now more incumbent than ever that they compare the van insurance products available to them on the market in the hope that they find the cover that is right for them.