Motor insurers are anticipating a rise in the number of new private van insurance policies after the release of a promising report by British Car Auctions (BCA).
The BCA figures suggest that many of the people made redundant recently by the UK economic downturn are looking to go into business as one-man bands, with an increase in private van insurance sales expected to follow.
BCA's Duncan Ward comments, "Having spent most of 2008 in the doldrums, there is a lot more confidence in the used Light Commercial Vehicle market in 2009, and that is reflected in stronger bidding, higher conversions and prices that have improved since the turn of the year.
"Despite the small reverse in April, LCV values are currently much stronger than those recorded at the back end of 2008.
"The rise in average values has been good news for professional vendors at auction and obviously reflects an active retail market. Dealers say sourcing stock is currently their biggest issue to meet the demand in their showrooms."
Ward confirmed that a surge in the number of new private van insurance customers is to be expected, "The wave of redundancies and closures we have seen in the last few months will result in many professional and trades people striking out on their own," he said.
"A light van is often an essential purchase for a new small business venture. And more established companies will have put 2008 behind them and are again ready to invest in the infrastructure of their business."