Industry News from Yes Insurance

Drivers who expect to be renewing their van insurance policy in the coming weeks after purchasing a second-hand model may find they have to pay more than they were expecting for a used vehicle.

Figures from BCA have revealed average prices in the sector rose for the second month in a row during February.

Values have surpassed the £3,000 mark for the first time since October 2008.

In February, a typical second-hand van was going for £3,117 - £200 more than in January.

However, it may still be a relatively good time to buy, as average prices are lower than they were in January last year when they peaked at £3,868.

Commenting on the findings, business development manager with BCA Duncan Ward said: "With the LCV market experiencing exceptional demand since the turn of the year, it is no great surprise to see used values climbing for the second month running."

Searching for cheap van insurance may help drivers offset any increase in the cost of purchasing a vehicle.

Looking for a cheap van insurance quote? Why not try yesinsurance.co.uk