If you have been one of those unfortunate businesses that have had to endure the services of a ‘rickety’ van for the past few months and have been planning to replace it, you may want to hold your horses. There are great deals to be had for consumers looking for van insurance, the startling drop in the value of used small commercial vans has forced them into cheaper brackets within the insurance market.

British Car Auctions group have reported that there has been a drastic drop in the average value of a light commercial vehicle van in the month of October. An average used commercial van now holds the value of £3,083 which reflects the £107 reduction to its worth in only a one month period. Duncan Ward the business development manager at BCA commented that “as the economic turmoil has intensified in 2008, small business confidence has ebbed away and this is reflected in van buying activity”, the alternate benefit is reduction in value and thus saving with insurers.