Tradespeople lose, on average, £1,427 every working week from lost business when their van is stolen, damaged, or written off, research by Direct Line Business insurance has found.
More than three quarters (78%) of tradespeople said they would lose on average £285 every day they didn’t have a van.
On average tradespeople said they could only cope for three to four days without a van before their business is negatively impacted. However, almost a quarter (24%) of tradespeople impacted by a loss of a van say they would take a financial hit within 24 hours of their van being taken off the road.
Commenting on the findings, Malkit Sihra, product manager at Direct Line business insurance, said: “Vans are essential for businesses and mobility across the UK. Keeping a business afloat when there is a disruption can be stressful enough, especially when there’s a loss of income, due to their being stolen, damaged, or written off.
“Our small courtesy van offering helps provide peace of mind and keep tradespeople on the road to serve their customers. Over the course of 21 days, tradespeople could lose up to £6,000 and at a time where most households and businesses are facing financial pressures, we’re pleased we can help get tradespeople back on the roads quickly.”
>>Read more about van theft here.
