Car Insurance Groups Explained
Choosing cars that are cheap to insure could save you a small fortune. The key is to recognise that every trim - e.g. Studio 1.25-litre 3dr – not just every model - e.g. Ford Fiesta - has an Insurance Group Rating from one to fifty. The lower the rating the lower your premiums. Ratings are assigned by a Panel of Insurers based on information provided by research centre Thatcham. Various factors are considered. The first is the cost of parts to repair simulated front/rear impacts at 15kph (9.3mph). These could include bumpers, lights, radiators, etc. Repair times are also considered as mechanics tend to charge by the hour. As such, city cars that emerge from these light collisions could probably be repaired far cheaper than luxury saloons. Why? Because the latter are more likely to have extras such as parking sensors, cameras, and front fog lights. Thatcham also evaluates the replacement cost of twenty-three common components. City car headlights, for example, might be cheap but those for luxury saloons could be expensive if they incorporate (say) infraed beams as part of night vision systems. Factors such as acceleration, maximum speed, value, and security features also influence ratings.