The latest market pricing info from Defaqto;
Van insurance premiums remain significantly lower than last year, despite prices stabilising over the past three months, according to Defaqto’s latest Quarterly Van Insurance Price Index.
The June 2026 Index shows that average quoted prices are now almost -10% lower than a year ago and around -18.5% lower than at the start of 2025, underlining the scale of the repricing that has taken place across the van insurance market.
While recent monthly movements have been negligible, the longer-term picture remains one of substantial premium reduction. Prices rose by 0.2% in March and 0.2% again in April, before falling by -0.4% in May, leaving average competitive prices unchanged overall across the latest three-month period.
The latest figures suggest the market has moved into a more stable phase following a sustained period of rate reductions through 2025 and early 2026. Over the past six months, average quoted prices have fallen by -2.4%, signalling a clear slowdown in the pace of rate reduction compared with the previous six months.
Stephen Kennedy, Director at Defaqto, said:
“Van insurance premiums may have flattened over the latest quarter, but the bigger story is the extent of the correction that has already taken place.
“Average quoted prices are almost -10% lower than a year ago and around -18.5% below where they stood at the start of 2025. That is a significant movement in any market, and it shows how strongly insurers have competed for van business over the past 18 months.
“The fact that prices were unchanged over the past three months should not be mistaken for a lack of market movement. Rather, it suggests the most aggressive phase of rate reduction may have passed. The market has repriced materially, and insurers now face the challenge of maintaining competitiveness while protecting underwriting discipline.”
The van market has also softened more sharply than (personal lines) private motor over the past year. Defaqto’s data shows that Van pricing is down -10% year-on-year, while Motor pricing is only -2% lower over the same period.
Segment-level analysis shows that premium reductions remain evident across the van market, although the scale of movement differs by usage, region and driver age.
By vehicle usage, year-on-year price reductions range from -6% to -10%. By region, there is limited variation, with Northern Ireland seeing the smallest reduction at -6%, while the East of England, North West, Scotland and Wales have recorded the largest reductions at -11%.
Driver age continues to be a differentiating factor. Year-on-year reductions by age range from -8% to -12%, with drivers aged under 26 seeing the largest price drops and drivers aged over 70 seeing the smallest.
Samuel Pompilis, Market Insights Consultant at Defaqto, added:
“The spread of reductions across driver age, region and vehicle usage shows that insurers are continuing to make targeted pricing decisions rather than moving uniformly. For brokers and insurers, the key issue now is understanding where prices have stabilised and where competitive pressure remains. The headline average is important, but the underlying segment-level data will be critical for pricing, underwriting and customer strategy over the coming months.”
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