Van Insurance Groups

Van insurance can be a tricky one to get your head around, but understanding how your vehicle is grouped can make a significant difference to the way you approach getting a policy. It can also lead to a decent saving on your commercial or private van insurance premium, so being well-informed can really work in your favour.

What’s a van insurance group?

Van insurance groups range from 1-50, and are used by the Association of British Insurers (ABI), to gauge the risk factor and insurance premiums of different van models. In short, the higher the group number, the higher the risk, and the higher the premium. Based on age, there are two sets of van insurance group:

• Vans made before 2016 are in groups 1-20
• Vans made during and after 2016 are in groups 21-50

If you’re looking to buy a van and save a bit of money on your insurance, choosing a van from a lower insurance can have a positive impact on your finances, especially if you’re under 25.

How do the insurance groups work?

Insurers consider a few different factors to determine a van's insurance group:

Repairs and parts

Vans that are less expensive to repair and have parts that are easy to find are placed in lower groups. High repair costs and the scarcity of parts can elevate a van into a higher group.

Performance and engine size

Vans with high performance and larger engines typically fall into higher insurance groups due to the increased risk of accidents and claims.

Weight

Heavier vans, which may be more difficult to manoeuvre, often land in higher insurance groups because they're more challenging to drive and more costly to repair.

Security

Vans equipped with advanced security features may be assigned to lower insurance groups, as they're less likely to be stolen, reducing the risk of theft claims.

Do van insurance groups affect my premium?

The insurance group of your van significantly influences your insurance premiums, with vans in higher groups costing more to insure because of their higher risk. A larger, more powerful, and expensive van will typically cost more to insure, so opting for a van in a lower insurance group will help to keep premiums low. However, insurance costs are determined by a combination of factors, not just the van’s insurance group. This would include the driver’s age, location, claims history, voluntary excess, and parking arrangements. Bear in mind that you have to consider everything you’ll need covered when you’re after van insurance - it’s about finding the best insurance at the best value for you and your van, not compromising on essentials to save a penny. 

Cheap.co.uk is a good way to find competitive deals on your van insurance. Compare multiple quotes in one place from over 60 van insurers, and save yourself the time and hassle of doing it yourself. Fill out your quick quote here today, and get the cover you need to run your business properly.