Understanding Insurance Groups

When it comes to selecting an insurance policy, there are many factors to consider. One of the most important considerations is the insurance group. Insurance groups are a way of categorizing vehicles into different risk levels, and they have a big impact on the cost of your insurance policy.

What are Insurance Groups?

Insurance groups were first introduced in the 1970s by the Thatcham Research Centre, which is a non-profit organization that studies vehicle safety and security. The aim was to provide a simple way to assess the level of risk associated with a particular vehicle. Essentially, the higher the insurance group, the higher the risk.

Insurance groups are numbered from 1 to 50, with 1 being the lowest risk, and 50 being the highest risk. Cars in group 1 are generally the cheapest to insure, while cars in group 50 are the most expensive.

How are Insurance Groups Calculated?

Insurance groups are calculated by taking into account a range of factors, including:

• The cost of the car when new
• The car’s performance and top speed
• The car’s safety features and security
• The cost of parts and repairs
• The likelihood of the car being stolen

All of these factors are used to determine how much it would cost to repair or replace the vehicle in the event of an accident or theft. The higher the cost, or the greater the risk, the higher the insurance group will be.

Why are Insurance Groups Important?

When you apply for car insurance, the insurer will take into account the insurance group of your vehicle. This is because the insurance group is an important indicator of the level of risk associated with your vehicle, and therefore how much the insurer is likely to have to pay out in the event of a claim.

Generally, cars in higher insurance groups are more expensive to insure. This is because they are viewed as being a higher risk to insurers. Cars in lower insurance groups are generally cheaper to insure.

How Can I Find Out My Vehicle’s Insurance Group?

You can find out your vehicle’s insurance group by using a number of different resources. One of the easiest ways is to check with your insurer, as they will have this information on file. Alternatively, you can use an online insurance group checker to find out the group of your car. This can be useful if you are considering buying a new car, as you can check the insurance group before making a purchase.

FAQ

What is the average insurance group for a car?

The average insurance group for a car is around 20. However, this can vary depending on the make and model of the car.

Are cars in higher insurance groups more expensive to insure?

Yes, cars in higher insurance groups are generally more expensive to insure, as they are viewed as being a higher risk to insurers.

Can I reduce my insurance group?

The insurance group of your vehicle is determined by factors such as the cost of the car when new, its performance, and its safety features. While you cannot change these factors, you may be able to reduce your insurance premium by taking steps to reduce your risk, such as adding security features to your car or taking an advanced driving course.

Is it worth buying a car with a lower insurance group?

Buying a car in a lower insurance group can be a good way to save money on your insurance premium. However, it is important to remember that other factors, such as the age and condition of the car, can also affect the cost of your insurance.

What is the highest insurance group?

The highest insurance group is group 50. Cars in this group are generally the most expensive to insure, as they represent the highest level of risk.