|
Small cars – Groups 1 -7 Low risk cars
Medium sized cars - Groups 8 - 13 Medium risk cars
Large Cars – Groups 14 -20 High risk cars
Every car insurance group has a number associated to it. If
you look in one of the car magazines or car buyer guides, you
will have come across the Insurance Group Number. In order for
car Insurance companies to evaluate each car and how the big
the risk is for them, a method devised of assigning every car
a group number is very useful to decide the amount of car
insurance policy. There are currently 20 different Car
insurance groups and generally speaking the higher the car
insurance group numbers the more expensive, faster or bigger
the engine is for that car. It also follows that the higher
your car insurance group number, the higher the cost of your
car insurance quote.
Ratings are
generally in line with the purchase price of the car as that
determines the cost of repairs. ‘Difficult to repair’ imports
may attract a higher rating than a similarly manufactured car
from principal foreign makers.
Most Car Insurance companies will use the car insurance group
number as part of their rating process when trying to
determine a price for your Car Insurance quote. They will
often combine the Car Insurance Group number with other
factors such as driver age or driving experience in order to
fully appreciate the risk associated with a specific person
driving a specific car.
So Car insurance Groups is very useful parameter in setting
the car insurance rates. Decide your car insurance group and
associated car insurance premium before you actually pay. |
