Data from Defaqto’s latest quarterly van insurance price index shows that premiums nudged up by 0.2% in March and by 0.2% in April, before dropping by 0.4% in May. Average quoted premiums are almost 10% down on last year and by more than 18% since the start of 2025.

On an annualised basis, van drivers in Northern Ireland have seen the smallest reduction – 6%. Drivers in the East of England, the North West, Scotland and Wales have seen the biggest reductions – 11%.

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.

He added: “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.”