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Car
insurance groups
Car insurance sometimes seems like a mystery - and you can’t understand why you
have been charged the premium you have. Nor can you understand why having changed
a family saloon for another one premiums might have skyrocketed despite the fact
that you haven’t made a claim. If you are concerned about the cost of your premiums
making sure you buy a car in a lower insurance group can often keep costs down.
Here we explain how they insurance groups system works and the factors that affect
the price you have to pay.
The Group Rating System
Insurance
companies classify cars in order to provide the correct level of insurance. To
do this each car is assigned a group between 1 and 20. This means that each model
of car can be accurately banded with cars of similar characteristics. There can
be a significant spread of groups within a particular model range. |
|
How the System Works
Nearly three quarters of all money
paid out in motor insurance claims goes on repairing cars. The cost of spare parts
and the times taken by repairers are therefore major factors in pricing motor
insurance. The factors used to calculate group ratings are:
1.
Damage and Parts Costs: The likely extent of damage to each car model and the
cost of the parts involved in its repair. The lower these costs, the more likelihood
there is of a lower group rating.
2. Repair Times: Longer repair
times mean higher costs and the greater likelihood of a higher group rating. Different
paint finishes on modern cars are an important factor. These, too, are taken into
account.
3. New Car Values: The prices of new cars identify the
higher specification models within a model range.
4. Body Shells:
The availability of body shells (the basic frame of the car) is taken into account
in group ratings because they are essential for certain accidental damage repairs.
5. Performance: Acceleration and top speed are important factors.
Insurers know very well, from their claims statistics, that high performance cars
often result in more frequent insurance claims.
6. Car Security:
Security features fitted as standard equipment by motor manufacturers can help
to reduce insurance claims costs. Such features include high security door locks,
alarm/immobilisation systems, glass etching, coded audio equipment, locking devices
for alloy wheels and visible VIN numbers.
Note that group ratings determined
by the Association of British Insurers are recommendations only. Individual insurers,
depending on their own experience, may vary from these recommendations.
Recommended Group Ratings
The different groups available range from
group 1 (the lowest) to group 20 (the highest). Most family cars fall into groups
6 to 12, unless they have high-powered engines. If you have a sports car, or high-risk
car then the group rating will be higher. So the lower the group rating, the less
your insurance premium costs!
| Lower
Group Cars |  |
Citroen C2: Group 1 - 8
Vauxhall Corsa: Group 1 - 9
Smart
fortwo: Group 1 - 8
Toyota Yaris: Group 2 - 7
Renault Clio: Group 3 -
7 | | |
| Middle
Group Cars |  |
VW Polo: Group 3 - 10.
Ford Focus: Group 4 - 8
Vauxhall Astra: Group
4 - 11
Citroen C4: Group 4 - 15
Audi A3: Group 9 - 18. |
|
| Higher
Group Cars |  |
Audi A4: Group 10 - 20
BMW 3 series: Group 11 - 20
BMW
5 series: Group 14 - 19
Jaguar S type: Group 14 - 19 |
| |
| Highest
Group Cars |  |
BMW M3 series: Group 20
Aston Martin DB9: Group 20
Jaguar
XK8: Group 20
Ferrari F430: Group 20 | |
|
|
Check Your Own Cars Insurance Group |
|
