East London has been revealed as the most expensive postcode in Britain for van insurance.
In new data from The Van Insurer- a leading van insurance quote website- the average annual premium on van insurance in East London was £1970.60, with the rest of London’s insurance being higher than anywhere else in the UK.
The national average annually is £1004, Northern Ireland £948, Wales £729 and Scotland just £610.
David Hort from The Van Insurer said: “It’s no surprise to us that London has the highest average van insurance premiums in the whole of the British Isles. Living in a highly populated urban area, with a proportionally high crime rate, are both contributing factors that can really drive up annual premiums.
“Other factors that can have an impact on van insurance premiums include the age and experience of the driver, and the make, model and value of the vehicle.
“Some individuals, especially younger van drivers in the London area, can be at a big disadvantage money-wise just because of where they live and work. Our mission is to help drivers find the cheapest van insurance quotes possible for them, regardless of where they are based.”
A spokesperson for Swiftee, a courier service based in Hackney, said: “It is simple, it affects our business as we have to put our prices up and that is bad for competition. It hasn’t affected us yet but could do in the future.”