When you’re shopping around for van insurance trying to get a great deal that will save you money, it may seem hard to understand how the quotes you receive have been calculated. That’s because insurers take into account a variety of information when deciding how much your premium will be. One of those factors is your van insurance group.
Van insurance groups explained
There are twenty van insurance groups in total, the cheapest being level one. Each van is assigned to an insurance group based on a number of factors that determine how much your insurance company is likely to have to pay out in the event of your van being in an accident. Just like with a car, these factors include the size, weight and performance of the van, its value and how much it will cost to carry out repairs to it.
While van insurance groups are a big part of how premiums are calculated, they aren’t the only factor that affects the price of your van insurance. That means that it doesn’t necessarily follow that buying a van in a lower insurance group will keep your insurance cheap. For instance, your premium will also be influenced by factors such as where you park your van, how many miles you’re likely to do in it, whether the van is modified, and how much of an excess you’re willing to pay, not to mention your own driver profile and any no claims bonus you hold.
It’s important to remember that insurers also take into account your intended use of the van, with some uses costing more than others. For instance, your premium will differ based on factors such as whether you’re using the van for transporting your own possessions, or using it for a business purpose. There are even different policies for different business uses, such as for tradespeople or couriers.
Get a quote for van insurance
Whatever the purpose of your van, you’ll want the peace of mind that you’ve got the right level of insurance cover for it, and that you’re getting that cover for the best possible price. As one of the UK’s largest van insurance brokers, we have access to exclusive deals that you won’t get elsewhere, and we do the comparison work for you to save you time. Give us a call and get a quote for van insurance tailored to your needs and budget.