Statistics from insurance expert Quotezone.co.uk highlight trends in the van insurance market, following a rise in tool thefts nationwide.

Young van drivers (aged 17-24), including labourers and tradespeople, are being hit hardest, as they face the highest insurance costs of all the age groups.

Their average policy now exceeds £2,026 – nearly four times the £520 paid by drivers aged 45-64.

Quotezone’s van insurance data provides a regional breakdown, highlighting which areas of the UK face the highest van insurance costs.

Perhaps unsurprisingly, London tops the list, with van drivers paying an average annual premium of £1,139.

Van drivers in the North East, West Midlands, and North West also face high costs, with premiums exceeding £640.

In contrast, van drivers in the South West enjoy the lowest average premium at £424, closely followed by those in the East Midlands (£480) and Wales (£486).

This data comes in the wake of a rise in tool theft and vehicle damage, with the construction industry losing more than £400 million a year due to theft and vandalism.

As a result, the average cost of van insurance across the UK has risen by nearly 5% over the past year.

In Q4 2024, motorists paid an average premium of £575.05, up from £549.61 in the same quarter the previous year.

Expensive tools and building materials are prime targets for thieves, making tradespeople particularly vulnerable to this crime.

Greg Wilson, CEO and van insurance expert at Quotezone.co.uk, said: “Unfortunately, van insurance premiums have seen a slight increase in 2024, coinciding with a rise in tool thefts. The high-value items often stored in vans make them a prime target for thieves.”