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What is the cheapest way to insure a van for a young, self-employed tradesman?

My 19 year old son is just about to qualify as a carpenter and needs a van because he will be self-employed. Please can you advise the best type of van insurance company who specialise in young drivers as the prices we have seen so far are astronomical?

Asked on 27 April 2017 by martin baston

Answered by Tim Kelly
It used to be that a van was the cheapest possible thing to insure, people caught on and started buying them for normal use and that caused premiums to increase. If your son is going to be self-employed, get the vehicle insured under a "trade" policy. This is NOT a motor trade policy, but a BUSINESS use policy. Have it so the business buys and insures the vehicle, and your son does not own it. Your son may need to create an ltd company to do this. He can then get a policy that covers anyone to drive. The problem your son has is his age though. Not many will want to cover him if he is under 21. He needs to add other older drivers to the policy, regardless of whether they use it, and that should bring it down. The best thing to do is to go to an insurance broker, rather than me recommend an insurer. They can then find the appropriate policy for him.
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