Prestige Underwriting see rise in multi-purpose van insurance enquiries
As consumer behaviours change with evolving lifestyle choices, many of our Broker partners are tracking a popular and rising trend with an increase in Van Insurance enquiries, in particular for private use.
The marked rise in demand for van insurance cover for private use is down to a shifting change in risk type such as social and leisure trips, carrying equipment for hobbies such as fishing and surfing or exercise such as cycling or hiking, transporting beloved family pets and animals or simply taking household materials to the dump as a result of the ongoing trend for home renovations.
More and more customers are choosing vans as their primary vehicle – a selection no longer exclusive to tradesmen only! The extra space offered by vans as opposed to private cars is providing that welcome room needed for other precious items, people and 4-legged friends! The added benefit is it keeps the family car clean and tidy!
During the two years of coronavirus restrictions, a large proportion of the population was inspired to connect with nature. This in turn sparked a surge in interest for outdoor hobbies – from mountain hiking and camping out to biking, cold water swimming, surfing and lots more. According to a report from the People and Nature Survey, nearly half of adults in England report spending more time outdoors than before the pandemic (45%, March 2022).
Similarly, pet ownership levels increased considerably in recent years with many an owning seeking solace in long country or beach walks with their new four-legged friends! According to a report commissioned by Statista Research Department in April 2022, pet ownership peaked to an unprecedented high of 62 percent in 2021/22, likely as a result of the coronavirus pandemic and increased time spent at home.
As the typical usage evolves, so can the type of non-standard modifications carried out on vans. Social Domestic and Pleasure use on vans can include modifications which can be accommodated such as additional windows and/or seats.
As the general population seeks to retain a sense of work life balance, and with a renewed love of the great outdoors and setting off on an adventure, we predict the demand for private cover for van insurance to stay around for some time.
Authored by Prestige Underwriting
