What are the different types of vehicle insurance? What kind of vehicles are classified as insurance groups 1, 2, 3, 4, and so on? What about vans, for example?
Car insurance groups are simple to comprehend. In other words, the lower your car insurance category, the lower your car insurance premium.
But what factors go into determining a car’s insurance group? What insurance group does your car belong to?
To fully comprehend what vehicle insurance groups are, we must first discuss the ABI Group Rating Panel. They determine which cars are classified as belonging to specific insurance groups.
The Association of British Insurers, the Lloyds Market Association, and Thatcham Research are among the organizations represented on the Group Rating Panel. Every vehicle sold in the UK is thoroughly inspected to determine:
They also evaluate the new car’s price as well as the various trim levels. They can calculate how much it would cost insurers to cover a whole loss this way.
Finally, they examine at performance parameters like the car’s top speed and the time it takes to accelerate from 0-60 mph to determine the car’s relative safety levels.
The Group Rating Panel can identify which insurance group an automobile belongs in using all of these data.
The lower the insurance group, the less money insurers will have to pay for repairs and replacements.
To put it another way, low-insurance-group vehicles are relatively safe and dependable. Cars in higher insurance classes, on the other hand, are more expensive high-performance vehicles. Insurers feel they are more likely to be involved in an accident because they are faster. If they are in an accident, the repairs will be more expensive than if they were in a lower-spec automobile. Finally, because these cars are often more expensive and attractive, criminals are more inclined to target them.
It’s all about taking chances. Low-cost vehicles with smaller engines are less likely to be involved in collisions or stolen. As a result, insurers are less likely to have to pay out, and you’ll pay less for your insurance.
Expensive high-spec vehicles with larger engines, on the other hand, are the polar opposite. Because there is a higher chance of collisions or theft, insurers are more likely to have to make a payout. And if they do have to make a payment, it will be substantial. As a result, you’ll have to pay more for your insurance.
Choosing a car from a lower insurance category makes sense if you want to save money on your car insurance.
There are several different types of vehicle insurance groupings.
A table explaining certain vehicle insurance groups can be found here as a resource, along with examples of cars that fall into the groups displayed. However, here’s a brief reference:
- The Chevrolet Spark, Citroen C1, Fiat Panda, and Vauxhall Corsa are all part of Car Insurance Group 1.
- The Fiat Qubo, Nissan Pixo, Peugeot Partner, and Skoda Fabia are all part of Car Insurance Group 2.
- The Citroen C2, Fiat Fiorino, Ford KA, and Peugeot 1007 are all part of Car Insurance Group 3.
- The Citroen Berlingo, Fiat Doblo, Smart Fortwo, and Toyota Aygo are all part of Car Insurance Group 4.
Please keep in mind that practically every car model comes in a variety of trim levels. Different trims of the same model may be assigned to different insurance groups, so read the entire table to obtain a complete picture.
You can also use Money Supermarket’s car insurance group checker tool. Simply enter any car’s registration number to find out what insurance group it belongs to.
Van insurance groups differ from vehicle insurance groups, but they operate on the same principle: smaller insurance groups cost less to insure, while larger insurance groups cost more.
We’ve put up a comprehensive reference to van insurance groups that explains how they function and offers some advice on how to choose a vehicle that’s less expensive to insure. It can be found here.
So, if you want to save money on auto insurance, start by purchasing a vehicle that is in a lower insurance group. There are, however, alternative ways to lower the cost of your auto insurance. For example, building up a no-claims discount can save you money in the long run. However, you can choose an insurer that specializes in low-cost insurance in the short term.
We’re happy to insure careful drivers for less at Insure 2 Drive. We provide comprehensive car insurance at an affordable price. To get an online quote in minutes, go here.
Is insurance group 2 high?
Insurance group 2 cars are frequently the cheapest to insure. Because group 2 is one of the lowest insurance groups, cars that fall into this category typically do well in aspects that determine group ratings, such as having good car safety features, being affordable to repair, and having less powerful engines.
Car insurance groups explained
When it comes to insurance, each car is assigned an insurance group ranging from 1 to 50, which helps decide the cost of your rates. The performance, safety and security features, and value of an automobile model usually decide which group it belongs to.
Insurers consider a variety of factors, including your age, driving history, and geographic area, so it’s always a good idea to compare policies and providers to weigh your options.
Cars in insurance group 2 and the average cost by driver’s age
You may look up the make and model of your automobile in the table below and calculate how much car insurance you’re likely to pay based on your age.
Is insurance group 3 expensive?
Group 3 auto insurance When it comes to average auto insurance premiums, cars in insurance group 3 are on the lower end of the scale. If you own or are considering purchasing a car in this category, this is fantastic news.
What is the cheapest insurance group UK?
The Group Rating Panel (members of the Association of British Insurers and the Lloyd’s Market Association) assigns each car on the market to one of 50 car insurance groups. If insurers like, they can create their own grouping structure.
In most cases, the lower a car’s insurance group number is, the less it costs to insure it. As a result, cars in insurance group 1 are likely to be the cheapest to insure, while those in insurance group 50 are likely to be the most costly.
What group is a Ford Fiesta on insurance?
Dan Hutson is a writer. “The good news is that practically every Ford Fiesta is reasonably priced to insure, with the majority falling into Groups 4 and 15. The higher the group, the more expensive it is to insure the car, with 50 being the most expensive.”
Is insurance group 2 cheap?
Insurance premiums for cars in insurance group 2 are among the lowest. Insuring an automobile in group 1 is the cheapest, while insuring a car in group 50 is the most expensive. As a result, having a group 2 vehicle should help you save money.
These cars are suitable for younger drivers, who, although having high insurance premiums due to their age and inexperience, can at least assist to keep expenses down by choosing one of these vehicles.
Is insurance group 7 expensive?
Insurance category 7 cars are among the most affordable to insure on the market. They normally feature less powerful engines and are reputed to have cheaper repair expenses. Choosing a car in insurance category 7 could thus be a good place to start if you want to save money on car insurance.
However, there are a variety of additional options for lowering your insurance costs, including increasing your deductible, accumulating a No Claim Bonus, lowering your annual mileage, or comparing vehicle insurance coverage by shopping about!
Is insurance group 20 high?
Cars in insurance group 20 are frequently less expensive to insure. Because group 20 is at the lower end of Thatcham Research’s 50 insurance groups, you may anticipate them to have relatively decent car safety features and reasonable repair costs. These are some of the most important variables in determining which group a vehicle belongs to.
You’ll learn more about the elements taken into account and how they effect your insurance premiums in the sections below.
Thatcham Research established 50 automobile insurance groups to assist insurers in determining acceptable premiums for clients.
All automobiles are assigned an insurance group from 1 (the cheapest) to 50 (the most expensive) before being made available for purchase (most expensive). This is mostly determined by comparing the car’s market value, performance, safety and security features, and part replacement prices to those of competing vehicles.
The insurance category of a vehicle isn’t the only aspect that influences the premiums you’ll be quoted. In addition to age, location, and driving history, insurance providers will look into a variety of personal characteristics.
Car makes and models in insurance group 20
You’ll see that insurance group 20 contains a number of popular vehicles. All of these should come with a car insurance coverage that is rather inexpensive.
Cars in insurance group 20 and the average cost by driver’s age
Based on the type and model of your automobile, as well as your age, the table below will help you estimate the cost of your car insurance.
What is 4E insurance group?
For insurance purposes, the automobile industry uses a rating system. Your vehicle is one of the cheapest to insure in Group 4E. And the security features it has go above and beyond what the industry expects from a car of this type.
Is insurance group 30 high?
Insurance quotes for cars in insurance group 30 are in the mid-high range. Insurance category 30 automobiles, for example, have powerful engines and pose a higher risk to insurers. Before choosing a car in this category, you may need to compromise between the sort of automobile you want to drive and the insurance bill you are willing to pay at the end of the year.
Is a newer car cheaper to insure?
Every year that your vehicle is older, your auto insurance prices decrease by 3.4 percent. A vehicle that is eight years old costs about 25% less to insure than one that is brand new. A brand new Honda Accord, for example, may cost $74 per month more to insure than an eight-year-old Honda Accord.