How Car Insurance Groups Work

The group rating panel administered by thatcham research assigns new car models to an insurance group from 1 cheapest to insure to 50 the most expensive. These insurance groups range from group 1 the cheapest cars to insure all the way up to group 50 the most expensive. Put simply the lower the insurance group that your car belongs to the cheaper it will be to insure.

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Car Insurance Groups Explained Moneysupermarket

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Car Insurance Groups Explained Moneysupermarket

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Car Insurance Groups Explained Moneysupermarket

Car insurance groups are broadly set by the group rating panel and administered by thatcham research.

How car insurance groups work. Every car in the uk is given an insurance group which is then used to work out insurance costs along with other factors like postcode age and occupation. Every make and model of a car is assigned a group based on several factors including repair time part prices size and weight performance and security. Find out more about the way car insurance groups are decided and how the decision affects car insurance premiums. How does the car insurance groups work.

While each individual insurer will use their own process to set car insurance premiums car insurance groups give a good indication of approximately how much it will cost to insure your car. Car insurance groups are one of the many ways insurers work out insurance premiums. 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. Car insurance groups work by looking at a number of factors about a particular make and model of car and then placing it in a group.

Cars in the highest groups typically high performance models are likely to cost insurers the most in insurance claims. However that s not based just on how fast and desirable a vehicle is. The car insurance group your car is in can influence your insurance policy. A group one vehicle would be in the lowest insurance group group 50 the highest.

The panel actually factors in a number of potential costs such as the value of the car how much it costs to repair and the price of parts. Admiral considers these recommendations when calculating our car insurance prices. There are 50 insurance groups 1 being the cheapest and 50 the most expensive. Use our interactive tool to find out your vehicle s insurance group.

Understanding these groups could save you money. The cost of repair is said to be the biggest determinant of which group the car will be assigned. When a new car is introduced the insurance group rating panel decides how much of an insurance risk it seems to be. The number of the group should be reflected in some way by the price of car insurance.