Van insurance groups

Insurance Groups

How policy decisions are made

The criteria used to determine insurance groups are open and straightforward and the governing panel make sure all insurers have solid foundations behind their policy decisions.

There are five main factors the panel consider when fitting a van into the right insurance group:

• Parts - The lower the cost of parts the more likely the van will be entered in a lower cost group.
• Cost of repairs - This factor is related to the costs of parts. Simply put, the cheaper the repairs the lower the group.
• Performance - Statistics show that the faster the vehicle the more likely there will be an insurance claim. So, if your van is capable of high speed, it's likely to be in a higher van insurance group.
• Engine size - The larger the engine the more powerful the vehicle and this increases the chance of an accident. Meaning that the van is much more likely to be in a higher insurance group.
• Weight - The heavier the vehicle the more difficult it is to drive, so the higher the group it will be in.

What other factors does your van insurance take into account?

Knowing about these factors before you buy, can help you shop for the right van and get an idea of what your insurance policy may look like. If you use a commercial vehicle, your van insurance is one of your most important on-going expenses, so it makes sense to be informed.

Of course, there are other important factors that insurers also take into account like, the age and driving history of the drivers who use the vehicle, what the van is used for and where it will be parked. You can find more information on this in the FAQ section for Van Insurance.

The cost of your premium can also go up if the van has been modified in any way because with a modified van, repairs are likely to be more expensive.

If you're changing your van or buying a new one, you can get a van insurance quote from us.