Tag Archives: Car Insurance

Car Insurance Groups – How do they work?

Introduction

When looking for a new car, one thing that may influence your decision (especially as a young driver) is the insurance premiums you’re likely to have to pay. Aside from comparing the prices of each and every car you come across, one way of getting a rough idea of the insurance costs is to look out for the vehicles insurance group.

Car InsuranceInsurance Groups

Each road legal car will be given an insurance group of between 1 and 50, 1 being the lowest price insurance and 50 being the highest. There are a number of factors that determine what insurance group a car is placed in; here are just a few:

  • The time required and cost of repairs
  • The value of the car when its new
  • Performance aspects e.g. top speed and 0-60 speed.
  • Security features

Examples of Insurance Groups

Group 1 – Fiat Panda (04 – 11), Vauxhall Corsa (06 on), Volkswagen Fox (06 -12)

Group 5 – Citroen C3 (02 – 10), Fiat 500 (08 on), Seat Ibiza (02 – 09)

Group 10 – Audi A1 (10 on), Ford Focus C-MAX (03 -10), Vauxhall Zafira (05 on)

Group 20 – Audi Q5 (08 on), Honda CR-Z (10 on), Land Rover Freelander (06 on)

Group 30 – Alfa Romeo Spider (07 -10), Range Rover Evoque (11 on), Mercedes C-Class (07 on)

Group 40 – Audi TT RS (09 on), Jaguar XF (08 on), Range Rover Sport (05 on)

Group 50 – BMW 7 Series (08 on), Chevrolet Corvette (98 – 04), Ferrari F430 (05 – 10)

It’s easy to see from this depiction that the higher the performance of the car the higher the insurance group.

Is Insurance Group the only Determining Factor?

The simple answer is no, it’s not. Insurance groups are only a guideline for insurers; there are a number of other factors that will affect the price of your car insurance, the main one being yourself and your driving history.

Young drivers will generally find their prices will be relatively high regardless of the type of vehicle they are looking to insure. Other factors that will influence insurance premiums quite heavily are your occupation, this is because this will generally dictate the hours you are driving (e.g. late nights or 9-5). Any claims or convictions are also likely to bump your premiums up quite substantially.

Generally speaking though, if you are looking for a new car however your budget is tight then look out for the insurance group of the vehicles as this could be a place where you could save large amounts of money.

When looking for the cheapest car insurance try both comparisonwebsites and direct insurers, this will give you the best chance of covering all insurers and indeed finding the cheapest quote.

This article has been written by Jason Scott on behalf of Guarantor Loans Online. For more top money saving tips