Number of van insurance bandings to increase to 30 next year

Release Date: 

09/06/2015

The insurance group rating system for Light Commercial Vehicles is to be restructured for 2016.

The number of groups will expand from 20 to 30 to enable improved differentiation between similar vehicles, making it possible to reflect the presence of standard fit driver assistance systems.

The change comes into effect from 1st January 2016. A similar change took place on cars in 2009, when the number of groupings increased from 20 to 50.

All Light Commercial Vehicles which are grouped up until the end of December 2015 will fall under the existing system and will retain their current banding.