Vanarama has conducted a new study analysing the cost of insurance for diesel and electric vans across 40 of the most popular tradespeople job titles. Plumbers emerged with the most affordable insurance quotes for both types of vans.
Electricians pay £722.77 for insurance on a diesel van, which is £114.51 cheaper than mechanics, who received the highest quote of £837.28.
Shockingly for electric van insurance, there were no quotes for less than £1,000. Nonetheless, electricians still received the cheapest quote at £1,004.29, which is £155.62 cheaper than the highest quote.
Vanarama established an ‘average van driver profile’ ensuring the only variable changed for each insurance quote was the job title and van type. The study used the UK’s best-selling van, the Ford Transit Custom, and the UK’s best-selling electric van, the Vauxhall Vivaro-e. The value of each van was determined by analysing Auto Trader listings and calculating the average price.
Electricians are among those who will benefit from the cheapest ICE van insurance
Occupations such as electricians, plumbers, builders, carpenters, painters, and decorators all receive an annual insurance expense of £722.77. This is a difference of £114.51, almost 16% (15.8%) less in comparison to what mechanics will pay.
When analysing the data, it’s interesting to discover that many trades receive the same lower price of £722.77. Beyond the mentioned trades, 14 other trade jobs like gardeners, joiners and plasterers received an identical quote, totalling 19 overall.
This sheds light on the financial landscape experienced by different trades and uncovers the significant variation in premiums based on the nature of the profession and the type of van driven. This pattern persists when investigating insurance costs for electric vans.
Trade professionals pay a minimum of £1,004.29 for insurance on the electric van
The trades securing the most affordable quotes for insurance on electric vans encompass no more than 20 job titles. Amongst them are electricians, plumbing, stonemasonry, joinery, plastering, and locksmithing. However, for these trades, acquiring insurance for their electric vans comes at £1,004.29. On one hand, it secures a substantial saving of £155.62, in contrast to mechanics. However, it is still a considerable cost when compared to the cheapest diesel van insurance, representing an increase of £281.52.