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New research by Confused.com reveals that lockdown has saved van drivers on their van insurance.
Nearly half (49%) of van drivers don’t buy their insurance until up to week before their renewal is due. Almost one in five (19%) do this because they believe the date doesn’t affect the price.
However, during lockdown van drivers have been shopping around for their insurance earlier, which means they can access savings on their renewals.
Confused.com data shows 21% of customers are now running their quotes 14 days or more before their inception date, compared with 18% pre-lockdown.
According to the data, there has been a 9% increase in the number of van drivers running quotes 14 days or more before inception during lockdown. These customers get prices from £929 on average for their van insurance compared to customers who run their quote between 0 and 14 days who get prices from £1153 on average.
That means van drivers are saving £223 on average by getting quotes earlier.
For more tips on how to save on van insurance, click here.
To see how timing matters when getting quotes on van insurance, click here.