Car Insurance Groups Explained
It will also include the numbers ranging from group 1 to group 50.
Car insurance groups explained - 1 is cheaper 50 is pricey. 2 impact performance damage costs repairability theft prevention and other factors are tested. There are 50 different car insurance groups those in insurance group no 1 are the cheapest cars to insure while those in insurance group 50 are the most expensive.
Each car is assigned to one of 50 car insurance groups and each group is assigned a rating based on the level of risk an insurer feels they carry. Until 2009 the number of car insurance groups were 1 20 but this has been expanded this means according to thatcham. Cars with a group 1 insurance rating carry the lowest risk to an insurer for example they might have a lot of safety features or are only capable of moderate speeds.
By mehdi punjwani on monday 15 july 2019. Every make and model of a car is assigned to a group based on many factors including repair time. Car insurance groups are set for each vehicle and can help you compare the anticipated cost of car insurance.
Car insurance groups in uk explained. Cars in the lower groups are cheaper to insure while cars in the higher groups are more expensive to insure. These insurance groups range from group 1 the cheapest cars to insure all the way up to group 50 the most expensive.
Car insurance groups are broadly set by the group rating panel and administered by thatcham research. 3 a group number from 1 50 is assigned which car insurance companies use to help set the price of your quote. 1 independent testing company thatcham puts new cars through their paces.
The association of british insurers decides your car s insurance group from 1 to 50. The number of insurance groups has changed in recent years. However one aspect to consider when understanding how your premium is calculated is your car s insurance group.
If you re looking to save money on your premium an understanding of car insurance groups and how they affect the price of your policy can be useful. What do they mean for you and your car. But if you don t want to end up paying a huge amount for your insurance you also need to check which insurance group your vehicle will fall in to.
Every new vehicle in the uk is assigned to an insurance group which is a rating between 1 and 50 with 1 representing the cheapest cars to insure and 50 being the most expensive. Car insurance groups explained discover the impact of car insurance groups on premiums. Car insurance groups explained.
