What Are The Car Insurance Groups?
Insurers place all cars into indemnity groups ranging from 1-50 ( 1 being the cheapest to insure, 50 being most expensive ). What group your vehicle falls under will largely affect how a lot you pay for its policy.
Want to know what factors determine how indemnity groups are calculated ? Or possibly you ’ re wondering if you can switch your policy to a exemplary with a lower group to make premiums cheaper ? Read on to find out everything you need to know about car indemnity groups .
What do car insurance groups mean?
There are a variety of different characteristics and features of every vehicle which result in them being put into a detail group .
Four main aspects influence the ‘ gamble factor ’ insurers place on a car, which allows them to categorise each model and trim flat into one of the 50 groups. By doing this it ’ s easier to decide what each vehicle ’ second policy should cost before your personal details and driving history are entered for a final total .
by and large speaking, the majority of cars in the higher indemnity group bracket ( 40+ ) tend to be sports cars or boastfully SUVs with powerful engines .
A dependable example to look at would be the Ford Mustang ( 41-45, depending on the tailored level ) and Jeep Grand Cherokee ( 36-50, depending on the trim level ) .
Looking at the trim levels with the highest grouping for both these cars, it ’ second clear to see through their locomotive size and power tells insurers that the driver is more at hazard of making a claim .
- Group 50 – Jeep Grand Cherokee SRT
- Engine size: 6.4L V8
- Power: 461bhp
- Acceleration: 0-62mph in 5.0 seconds
- Top speed: 159mph
- Avg. insurance cost: £3,300 upfront for the year*
- Group 45 – Ford Mustang GT
- Engine size: 5.0L V8
- Power: 443bhp
- Acceleration: 0-62mph in 4.8 seconds
- Top speed: 155mph
- Avg. insurance cost: £1,420 upfront for the year*
*Insurance premiums based on a individual 30-year-old homeowner with two years ’ no claims bonus .
The current value of a car is another important factor which dictates the policy group that it will come under. however, it ’ s more probably to influence prices of cover when the applicant is older, whereas younger drivers ( 17-25-year-olds ) will broadly see that their long time has a greater affect on price of premiums .
When you go to run an insurance quotation, the comparison/provider web site will ask you for an calculate prize of the vehicle you ’ re looking to insure. This will be what you paid for it at the time .
It ’ south authoritative to give as accurate a figure as possible. dishonestly reducing your car ’ s measure can lead to an insurance company invalidate or cancelling your policy, particularly if a claim led to them discovering the true market measure of the vehicle .
Remember : If you ’ re insuring a lease car then the prize you enter will be what the list price of the vehicle is when brand-new .
The level of security fitted in your cable car will tell insurers how secure it is and the likelihood of it being stolen .
Those vehicles which are in the bum car insurance groups ( 1-5 ) will much have a high issue of security features as standard .
The Skoda Fabia ( insurance group 1-12 depending on the tailored level ) is a good example of this, and comes with a Thatcham alarm immobiliser which has a five-year work liveliness .
If your vehicle doesn ’ thymine include a thoroughly level of security system, then you can hush lower your premiums by manually fitting anti-theft devices to ensure that it ’ south more plug .
Some examples of things you can fit include :
- Steering wheel lock – one of the first forms of car security, wheel locks have come a long way and can cover your whole steering wheel to prevent thieves from being able to cut it and remove the device.
- Ignition kill switches – often installed in a hidden location, kill switches will prevent your car from being started other than with the designated key.
- Vehicle tracking system – a GPS system which alerts police to the position of your car if it’s stolen.
- Tyre locks – the same devices used by parking wardens to clamp a car.
- Gearshift locks – these mechanical devices can be used for manual and automatic cars and they prevent a thief from changing gears if they get access to your car.
- Hood locks – prevent access to your car’s battery, security system and starter.
Remember : There may not be a field on your cable car policy quote shape which asks about security devices fitted to the cable car, so you may want to call the provider and tell them to see if your premiums can be reduced .
4. Repair costs
It ’ s a fact that some cars cost more to repair than others, which insurers take into consideration when deciding how much you should pay for insurance .
haunt costs besides play a part in allowing each vehicle to be put into one of the 50 policy categories .
DVLA records and data from more than 12,000 united kingdom car workshops show that BMW models are some of the most costly to repair/maintain. The 1 Series, 3 Series and 5 Series price an average of £486-£585 per class for maintenance, though they score much higher on dependability than some of the cheaper models, so it ’ south less probably that these models will need repairing angstrom much .
not coincidentally, these models fall between insurance groups 16 and 30 for the most low-cost trim levels .
On the contrary, Fiat and Peugeot are parents of some of the least expensive vehicles to repair – the Punto and 206 costing an average of £255 and £283 each year, respectively. however, they besides ranked as much less reliable as more luxury models, so you may want to consider whether a larger spending for a better-built model is more cost-efficient than multiple trips for repairs .
insurance groups for the Punto and 206 beginning from 6 and 7, making them attractive models for younger drivers looking to get low-cost cover .
How are insurance groups calculated?
Automotive inquiry center Thatcham Research and the Association of british Insurers ( ABI ) developed the Group Rating Panel back in 1984 to provide risk data for each car to allow a rat assessment .
Using the four main factors mentioned above, this rate assessment places each vehicle within one of the 50 groups and insurers then use it as an advisory on the proportional gamble of them .
The complexity of the organization means that it isn ’ t a ‘ one size fits all ’ calculation. alternatively, you ’ ll find that unlike variations of the lapp model can be in a different insurance group entirely .
For exercise, the Ford Fiesta Trend can be in three unlike groups ( 4, 5 and 10 ) depending on the trimming level you choose, each one disagree when it comes to engine size, power and features .
Ford Fiesta Trend different indemnity groups :
- 1.1L Ti-VCT 74bhp, three doors (group 4)
- 1.5L TDCi 84bhp, three doors (group 5)
- 1.0L EcoBoost 94bhp, three doors (group 10)
Which insurance group is my car in?
many indemnity comparison sites allow you to use your registration plate to determine what insurance group your car is in .
however, there are many other aspects of your application for policy screen which determine the price of premiums, including :
- Any no claims bonus
- How you store/park your car
Can I switch my car insurance to another car?
Most policy providers allow you to transfer your policy to another fomite, which will in turn affect your premiums .
By transferring your policy to a model which has a lower group, you can reduce premiums significantly. The best means to do this is to run a newfangled quotation mark on a comparison web site, or contact your current provider and see if they can calculate what your raw cover would cost if you switched to another fomite .
Remember : You ’ ll credibly be charged an admin fee for amending your policy in this way, which can be anywhere from £20-£60, depending on the provider .
Which cars are cheapest to insure?
Depending on how old you are, some policy groups will be cheaper to insure than others .
Check out our table below with the latest data* to find out which models provide the cheapest policy for your age bracket .
*Information based on data from MoneySuperMarket .
One matter which won ’ t affect your car indemnity premium is whether you own the car or not. so, why not compare our latest lease deals to find a capital price on vehicles across all indemnity groups ?
If you want more steering on how cable car policy works, check out our other guides .