Insurance Group For Cars
Group rating system 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.
Insurance group for cars. Insurance groups were first introduced in the 1970s as an easy to understand way for people to get an idea of how big the premiums were likely to be for a specific vehicle. This means that the insurance group can give you an idea of relative insurance costs when comparing different models. Just like car insurance groups the van insurance groups are determined by the association of british insurers abi to determine the groups and how much your van insurance will cost. They take into consideration several factors including size of engine weight security performance and cost of repairs.
Most new cars are assigned to an insurance group a rating between 1 and 50 that indicates the level of risk as seen by the insurers. If you re in the market for a car one other factor to consider is its insurance group rating as this can make a big difference when it comes to your premiums. Prior to 2010 insurance groups ranged between 1 20 with the lowest being the cheapest to repair and insure. These were ditched and replaced with a wider 1 50 rating system to represent a more accurate reflection of the increased range of cars available on the market.
Insurance group ratings are advisory insurers don t have to follow them. The van groups are organized from group 1 to group 20 with the lower end being the cheaper insurance. How many cur insurance groups are there. Insurers take many factors into account when setting premiums but with all else being equal the lower the group number the lower the insurance premium should be.
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