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Man hit with £40,000 van insurance quote

Man hit with £40,000 van insurance quote

Man hit with £40,000 van insurance quote It seems that we’re on a hot streak of mind-blowing insurance quotes.

Just yesterday we told you about the woman hit with an insurance quote nearly six times the value of her car – but that was for a ‘mere’ £11,500. Now, a teenage bricklayer is facing a £40,000 quote to insure his van.

According to a report by the Manchester Evening News, Gary Shipp, from Oldham, has faced a series of quotes between £20,000 and £40,000 for his vehicle – and this despite having a clean driving record and never having been involved in accidents.

Having been laying bricks since he was just 11 years old, Gary began his own business, Stonebrook Builders, one month ago. However, the expense associated with insuring his van has meant he has had to rely on his Vauxhall Astra to get round while paying for items like drills and cement mixers to be transported to building sites.

When scanning for insurance for his Nissan Navara his highest quote was an eye-catching £40,323.01 – and the lowest through a comparison website was around £20,000 a year. Indeed even insurance brokers have not been able to beat that price.

In an effort to keep his insurance quotes in check he has moved from his mother’s home to his girlfriend’s house, saving him around £2,500 a year on his Astra which currently faces premiums of around £3,500 a year.

Speaking to the publication he commented that people under 25 have to pay “extortionate prices” and “it’s a rip-off.”

Meanwhile, the publication quotes Malcolm Tarling of the Association of British Insurers stating that the high premium is likely largely due to his age.

“What’s important for the insurer is not the value of the van but the likelihood of him being involved in a multi-million pound personal injury claim,” he said. “That risk is much higher the younger you are.”

What do you think of the size of this quote? Leave a comment below with your thoughts.

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Woman hit with insurance quote nearly six times the value of her car