As the cost of fuel remains at unprecedented levels, new research reveals almost a quarter of van drivers (24%) have turned down job opportunities because petrol prices mean certain jobs are not cost effective. For insurers this is interesting, since it means that more van drivers will clock up more hours in busy local traffic, rather than drive on motorways where statistically there are fewer accidents and certainly less theft risks.
The research from MoneySuperMarket reveals how people using vans for work purposes are being impacted by economic and van trade environments. The data shows van users are now paying on average £2,427 more annually to fuel their vehicles to carry out paid jobs.
Consumers are experiencing the knock-on effect of this as businesses are forced to put prices up to cover their costs. Over half (53%) of businesses that are reliant on vans said they have increased their prices. Others have started building mileage charges into the prices consumers pay (14%).
It’s not just the fuel crisis that is causing concern for van drivers. The research highlights the negative impact the van shortage is having on businesses, as almost one in five (18%) who use vans for work have turned down jobs because they cannot get a suitable vehicle. One in 10 (10%) are even having to scale back their business because they can’t get access to the vans they need.
Some are having to go to extreme lengths to make certain jobs viable, with 16% of van drivers using the family car for work because it’s cheaper to fill up. Depending on your policy type this may invalidate your insurance and leave you out of pocket. The van shortage is also driving many to use their family car for work purposes, as almost one fifth (18%) say it’s the only way to get themselves and their tools to the job when they can’t get the van they need.
Further adding to the plight of van drivers, almost half (47%) have had tools stolen out of their van. 26% of these were covered by their van insurance whilst the remaining 21% did not have any insurance in place, meaning they had to foot the bill for replacements themselves.
Van drivers in Aberdeen need to be most cautious with 71% reporting that they have experienced tool theft in the city.
Sara Newell, MoneySuperMarket’s van insurance expert commented: “With over one in five (21%) having to fork out after not having van insurance that covered tool theft, it’s important to explore ways you can mitigate against the risk of financial loss when it comes to your van.
“As well as insurance costs, van shortages and the fuel crisis are making it harder and more expensive for van drivers to do their jobs. This means it’s more important than ever to shop around and compare different van insurance costs to find the best deal for your needs.”