Car Insurance Groups Explained Uk
Uk car insurance groups explained.
Car insurance groups explained uk - The association of british insurers decides your car s insurance group from 1 to 50. In order to give a vehicle a rating from 1 to 50 thatcham use some specific key factors to assess each vehicle. It will also include the numbers ranging from group 1 to group 50.
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. The car insurance group your car is in can influence your insurance policy. Every car in the uk is placed in an insurance group but what exactly does that mean.
Cars with a group 1 insurance rating carry the lowest risk to an insurer for example they might have a lot of. In the uk every vehicle is given a car insurance group rating. Every car in the uk is allocated an insurance group to help insurers work out the cost of cover running from 1 cheapest premiums to 50 highest.
1 is cheaper 50 is pricey. Members of the abi and lloyds market association lma make up the group rating panel which meets every month to set new car models to an insurance group. Car insurance groups in uk explained.
Car insurance groups explained. 1 independent testing company thatcham puts new cars through their paces. 2 impact performance damage costs repairability theft prevention and other factors are tested.
These insurance groups range from group 1 the cheapest cars to insure all the way up to group 50 the most expensive. Aug 22 2019. In the uk car insurance groups run from 1 to 50 and are set by the abi here we explain everything you need to know.
3 a group number from 1 50 is assigned which car insurance companies use to help set the price of your quote. 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. Uk car insurance groups explained.
Cars in the lower groups are cheaper to insure while cars in the higher groups are more expensive to insure. Understanding these groups could save you money. Almost every new car built that s sold in the uk is assigned to a car insurance group.
Every make and model of a car is assigned to a group based on many factors including repair time. 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. Car insurance groups explained.
The rating system created by thatcham research is scored from 1 to 50 with group 1 being the cheapest to insure and group 50 the most expensive.
