When is the cheapest time to buy van insurance?
Motor insurance prices are rising faster than ever according to industry data, so finding different ways to save is important .
We've dived deep into quote data from The Van Insurer to find out when motorists found cheaper quotes for their van insurance over the last 12 months.
While history is unlikely to repeat itself exactly, and we wouldn't tell anyone to cancel their policy to capitalise on what we found to be the cheapest day of the year for van insurance quotes, the data does show some interesting trends from the last year.
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What month of the year was the cheapest to buy van insurance?
Looking at all policies bought via The Van Insurer over the last 12 months, August was the cheapest month of the year to buy your van insurance.
On average, quotes in August were £597.67, almost £80 cheaper than the highest premium average of £674 in March.
Looking at renewals on their own, it's July that claimed the cheapest month title with an average of £395.94, over £120 cheaper than the high of £519.60 in April.
What day of the month was cheapest to buy van insurance?
Based on average quote data from The Van Insurer over the last 12 months, the first day of the month was the cheapest to buy, with the average policy price on the 1st of each month sitting at £594.08.
However the average van insurance premium varied a lot day-by-day throughout the month last year.
This could have been influenced by lots of factors, not least the drivers comparing insurance on those days, so can you read much into it?
Probably not, but it does suggest that insurance quotes are cheaper at the beginning and end of a month.
What day of the week is cheapest to buy van insurance?
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Sunday was the cheapest day of the week to buy van insurance on The Van Insurer over the last 12 months.
Average quotes on Sundays sat at £609.81, almost £40 cheaper than Fridays where quotes cost a high of £655.68 on average.
In price order, it's clear that weekends and Mondays were the best bet for cheaper quotes with the average premium on a Saturday sitting at £619.33 and at £624.35 on the first day of the working week.
For renewals, it's Sundays that were the cheapest with an average premium cost of £420.57, almost £80 cheaper than Wednesdays, the most expensive day for renewal.
What was the cheapest day to buy van insurance overall?
After trawling quote data on The Van Insurer over the last 12 months, we've found the cheapest day to buy van insurance from the last 12 months.
On 19 February, the average van insurance quote sat at just £386.49, the cheapest throughout the year.
If you're looking to renew using The Van Insurer then it's the 28 January that was the cheapest day of the year to buy, with an average premium of just £104.
Should I look for van insurance based on these stats?
The conclusions we've made about when the cheapest time to buy your insurance is are based on true statistics and averages from real policies and quotes bought via The Van Insurer.
Does that mean you should wait until the 19 February to get your van insurance? Probably not.
Insurance quotes are based on you and the information you provide. So while averages and other peoples' quote data can give you some insight into when it's cheaper to buy insurance, it doesn't mean you'll necessarily feel the benefit.
That's why we can't guarantee that your van insurance will be cheaper if you buy it on the 19 February or in August on a weekend.
But there are other ways to save too by taking further training or opting for a smaller van, both of which could also reduce what you pay for your insurance.
Learn how you can save on your van insurance.
