Say yes to cheaper van, home and car insurance

Car insurance companies are to change the way they assess and classify vehicles, it has been reported.

According to This Is Money, the Association of British Insurers (ABI) is set to introduce a new method to assess a vehicle's liability.

Since 1992, vehicles have been placed in one of 20 categories, based on make and model as well as engine power, it added.

Now, the ABI has adjusted this to 50 in order to accommodate the number of new breeds of car on the road as well as the implications and effects of new vehicle technology when it comes to assessing a claim.

"The changes have been made to take into account the fact that there are now 6,000 models on the road," said Malcolm Tarling of the organisation.

Earlier this week, Tesco announced that it would like to cover the cost drivers may have paid to their car insurance company in order to fix their car after contaminated petrol in the south damaged some vehicles.

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