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Last updated: 06 May 2020
Just like with cars, insurers group vans to help them decide the cost of your insurance. This guide will take a look at how the van you own can affect how much insurance you pay.
What are van insurance groups?
Your van insurance
premiums are affected by many factors. Understanding van insurance groups can help you know what premium costs to expect.
Van insurance groups are a way of categorising vans to help insurers decide what your premiums will be when you take out an insurance policy. The category of your van will determine how much insurance you pay, along with other personal factors such as age.
How do van insurance groups work?
The higher the group your vehicle is in, the more expensive it will be to insure. Vans are assigned to insurance groups based on factors that affect their risk.
Group 1 is the lowest van insurance group. The highest used to be group 20. After 2016, categories 21-50 were added.
Vans produced before 2016 are categorised in group 1 (lowest), to 20 (highest). Vans produced after 2016 are categories from groups 21 as the lowest, and group 50 as the highest.
Vans in higher insurance groups are more expensive to insure.
Does the size of your van matter?
The size of your van is an important part of deciding what insurance group it will be in.
Generally, if you have a big and heavy van then it will be in a higher insurance group. This means big heavy vans are more expensive to insure than small and lightweight vans. This is because larger vehicles are more difficult to drive and are likely to cause more damage in an accident.
If you want to keep your insurance costs low, you might consider purchasing a smaller vehicle.
How do insurers decide what group your van is in?
A number of factors are used to decide what group your van will be in:
- Repairs and parts. The cheaper it is to repair your van and find spare parts, the lower your insurance group is likely to be.
- Performance and speed. Vans that can reach higher speeds are more likely to be involved in a claim and so are in higher insurance groups.
- Weight. Heavier vans are harder to control on the road and so go into higher insurance groups.
- Engine size. If your van has a big engine it will typically be more powerful. Vans with bigger engines are usually placed into higher insurance groups.
- Security. Vans with up to date security features are placed into lower insurance groups.
The age of your vehicle will also make a difference to its insurance group. So can its specifications, and any modifications made to your van. Make sure you are aware of these before purchasing van insurance.
Will buying a van in a lower insurance group save me money?
Choosing a van from a lower insurance group can help to save money on your insurance. The lower the van insurance group, the lower your premium.
If you are a young driver then your van insurance policy will be more expensive than for older drivers. Buying a van in a lower insurance group can be an easy way to lower your insurance premiums.
If you are a convicted driver your premiums are also likely to be significantly higher. Buying a van from a lower insurance group can again help to keep your initial costs low.
How do insurance groups affect insurance costs?
The van insurance group your vehicle is in will affect your insurance premiums. Higher insurance groups usually mean your van is a higher claim risk making it more expensive to insure.
Your van insurance group is not the only factor used to set your premiums however. Insurers will also look at:
- Your age. Young drivers are more expensive to insure.
- Location. Living in a high-crime area means a higher insurance premium.
- Claims history. Having a history of no-claims automatically lowers your insurance costs.
- Security. Parking your van in a locked garage and making sure it has up to date alarms and immobilisers will lower your insurance costs.
How else can I keep van insurance costs low?
If you have made the changes you can and your insurance is still looking too high, you can consider some other ways to keep your insurance low.
Some modifications will lower your insurance premiums. You may want to consider having an advertisement painted onto your van as this lowers the risk of theft. Insurers are likely to lower your premiums as a result.
You can also consider paying more voluntary excess to keep your insurance costs low.
The easiest way to keep your van insurance affordable is to compare van insurance
policies before taking one out.