Northern Ireland has the lowest average van insurance premiums for drivers aged 17 to 24 in the UK, according to CompareNI’s latest data. Premiums for this age group have fallen from £1,406 to £1,215, a 16% decrease compared with the previous year.
For drivers aged 35 to 44, Northern Ireland has the second-lowest van insurance costs at £627, with Scotland being the only region with lower premiums at £619.
The figures come as a recent Freedom of Information (FOI) request identified Northern Ireland as one of the 10 safest UK regions for tool theft. Data showed that there are 13 incidents per 100,000 people annually. North Wales recorded the lowest rate at three incidents per 100,000 people, while London and West Yorkshire had the highest rates, with 592 and 130 incidents per 100,000 people, respectively.
The most expensive regions for young driver van insurance are North East England, where average premiums stand at £3,233, and East of England, where they are £2,996.
Despite lower costs for younger van drivers in Northern Ireland, insurance premiums have increased across the UK. The average premium across all age groups rose from £549 in 2023 to £575 in 2024, a 5% increase. Northern Ireland has seen a steeper rise, with general van insurance premiums increasing by 16%, from £496 to £573.
All 11 district council areas in Northern Ireland recorded price increases, except for Newry, where premiums fell from £573 to £559. Belfast saw a significant rise, with costs increasing by 63%, from £669 to £1,088.
“It’s great to see costs for our younger van drivers in Northern Ireland starting to come down and being the cheapest in the UK right now is really positive,” said Ian Wilson (pictured above), managing director at CompareNI. “However, van insurance in general still remains high and climbing, when we take each council area in turn we can see the prices surge.”
To find savings, Wilson recommended several steps that van drivers could take regardless of their age. Aside from finding a safer place to park overnight, installing trackers and keeping a clean driving record, van drivers should also take extra caution when on the road.
He said that being cautious of the lower speed limits for vans and increased stopping distances when carrying heavy loads could tremendously help drivers avert committing potential offences, as some of these, like exceeding the manufacturer’s load limit could even invalidate insurance cover.
Last month, CompareNI said Northern Ireland recorded the lowest car insurance premiums for young drivers across three age groups in the UK. London, on the other hand, remains the most expensive region, the data showed.
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