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 - Vans capable of high speed may fall into a higher insurance group.
• Engine size - Larger engines lead to more powerful vehicles, potentially placing the van into a higher insurance group.
• Weight - Heavier vans may be more challenging to drive and could put them into a higher insurance group.

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.

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.

Visit our van insurance FAQ section for more information on factors that can affect your insurance cost and to get a quote from us.