Van insurance groups explained
The amount you pay for van insurance can depend on a lot of different factors. One of the most important of these is what insurance group your van is in. Below we explain everything you need to know about van insurance groups. For more information, visit our van insurance page
Van insurance groups are set by a governing panel that includes members of the Association of British Insurers (ABI), and are very important when it comes to how much van insurance premiums cost.
Vans are now placed into 50 different insurance groups based on factors such as engine size, built-in security devices, costs of repairs and so on.
Those in lower insurance groups are typically cheaper to insure than those in higher groups.
Therefore if price is a big factor for you, then buying a van in a lower insurance group will mean you get cheaper van insurance cover.
Criteria for van insurance groups
The criteria that is used to place vans into certain insurance groups is fairly straightforward, and is mostly based on how much risk an insurance company is taking on by providing cover for the van.
The higher the risk (e.g. more expensive repairs, more powerful engine, more likely to be stolen) the higher the insurance group and therefore the higher the insurance premiums.
The five main factors that determine which insurance group a van is placed in are:
- Cost of repairs – if a van requires expensive spare parts or specialist mechanics to carry our repairs, then it is likely it will be in a higher insurance group
- Van performance – the stats show that vans that are capable of higher speeds are more likely to be part of an insurance claim, so are placed in higher insurance groups
- Engine size – similar to the performance, vans with bigger and more powerful engines are more likely to be involved in accidents and to make a claim
- Van weight – heavier vans are more difficult to drive, so are placed into higher insurance groups as they are more likely to be involved in accidents
- Van security – vans that are fitted with security devices as standard (alarms, immobilisers etc.) are seen as less likely to be stolen so are placed into lower insurance groups
Van insurance groups list
Find out which van is listed in which insurance group below.
Please note that, dependent on the model, some vans are listed in more than one insurance group. Also, some insurance companies choose to put certain vans into different groups.
VAN INSURANCE PRODUCTS
There are many different types of van insurance available, designed to suit you and your individual needs.
If you are looking for van insurance, find out how to get a cheap deal below…
Related:
Car insurance groups explained
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