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Insurance Groups For Car Insurance

Insurance Groups
Insurance groups For Car Insurance The Group Rating system.
What's Your Insurance Group

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).

Cars in the highest groups, typically high performance models, are likely to cost insurers the most in insurance claims.

Many Insurers use the panel's recommendations to calculate the cost of car insurance premiums, or they may choose to use their own.  According to the Association of British Insurers, the cost of motor vehicle repairs accounts for over half of all the money paid out in motor insurance claims, so repair costs feature strongly in how the groups are defined.

Based on its research, Thatcham defines the factors used to assess new cars as below.

Parts costs :- This covers the likely extent of damage to each car and the cost of the parts used to repair.The cheaper the cost, the more it's likely to be in a lower group rating.

Repairs :- Longer repair times increases the cost, resulting in a higher group rating. Types of paint finishes are also an important factor.

Values :- The prices of new cars are taken into account, as they're a good guide to the cost of replacement and repair.

Parts Prices :- A standard list of 23 common parts is used to compare the cost of parts from manufacturers. The lower these costs, the more likely a lower group rating.

Performance :- Acceleration and top speed are important factors. Insurance claims statistics show that high performance cars often result in more frequent insurance claims.

Safety :- Cars fitted with AEB as standard will have a lower insurance rating, as they help reduce low speed.

Bumper compatibility :- Car Bumpers that are compatible with the insurer's criteria will qualify for lower insurance ratings.

Security :- Features fitted by motor manufacturers can help to reduce insurance claims costs. Features include high security door locks, alarm or immobilisation systems and glass etching.

Find out more about your cars insurance groups.

Find Your Cars Insurance Group