Why older vans are falling faster
The age-premium relationship in van insurance is less straightforward than it might appear. “There is no simple rule that a newer van will cost more or less to insure,” said Stephen Kennedy, director at Defaqto Market Pricing. “Newer vehicles may benefit from improved safety and security, but their higher value and more sophisticated components can increase theft, repair and replacement costs. Age is also only one part of the risk alongside the precise model, driver, occupation, mileage and use, and therefore assumptions based on age alone could prove misleading.”