How car insurance groups work
When you're shopping around for a car, it pays to know what car insurance group it falls into and how the system works.
Example car insurance groups
Here are some examples of different makes and models across the groups.
|
Car insurance group |
Example cars |
|
Group 1 |
Citreon C1 1.0i Vibe (05 number plates onwards), Fiat Panda 1.1 Active (04-11), Vauxhall Corsa hatchback 1.0i 12V Expression (06 onwards) |
|
Group 3 |
Ford Ka 1.2 Style (09 onwards), Kia Rio 1.1 CRDi 1 EcoDynamic (11 onwards), Toyota Yaris 1.0 VVT-i Edition (11 onwards) |
|
Group 5 |
Hyundai Atoz 1.0 (98-01), Peugeot 206 1.1 Independence (98-09) |
|
Group 10 |
Ford Fiesta 1.4 Style (02-08), Mercedes-Benz A Class A160 CDI Classic (05-12), Seat Ibiza 1.4TDi SX (02-09) |
|
Group 20 |
BMW 1-Series Hatchback 118i (04-11), Ford Focus C-MAX 2.0 Style (03-10), MINI Cooper S 2.0 Cooper (06 onwards) |
|
Group 30 |
Audi A3 1.8 T quattro Sport (96-03), Land Rover Discovery 4.0 V8i ES (98-04), SEAT Ibiza 1.9 TDi Cupra (02-09) |
|
Group 40 |
Honda S2000 2.0i (9-09), Saab 9-3 Convertible 2.8 V6 Aero (03-11) |
|
Group 50 |
BMW 5-Series M5 M Performance Edition (11 onwards), Jeep Grand Cherokee SRT 6.4 V8 SRT-8 (11 onwards) |
Source: Parkers
So you can clearly see that higher-performance, higher specification models fall into a higher grouping. It's worth noting that not all insurers will use the above system to the letter (it's not compulsory) but their own groups are unlikely to be radically different.
To find out which car insurance group a particular make and model falls into, go to the Thatcham website.
The group isn't the only determiner
Bear in mind that the groupings are a rough guideline for insurers to look at when they are considering the cost of a car insurance policy. They will also consider other factors such as your age, your job and the number of claims you’ve made in the past.
However, if you’re torn between two similar-costing cars, and your finances are fairly tight, it’s well worth having a look at their insurance groups as you could potentially save some money in the long run.
Once you've done that, there are loads of ways to potentially lower your premiums. Take a look at 25 ways to cut your car insurance for some top tips.
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Comments
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One of my cars is extremely rare, a Hyundai XG30 and it is a three litre saloon capable of 150mph - yet it is cheaper to insure than my Chrysler Neon. I also have a 1.3 Kia Rio which has been quoted higher than either of the others. If there is some logic to insurance quotations I'm damned if I can find it.......
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Does the actual car have an effect on policy. For instance, a Vauxhall Corsa is popular with first time drivers, so I imagine is also quite high in terms of accidents. Does that car get a loading because of this? If so, what cars within groups are cheaper to insure?
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Higher grouped vehicles are not always more expensive to insure. Thatcham and the motor insurance industry in general make it up as they go along. Thatcham approval means zilch - just look at the BMW security system fiasco. Approved immobilisers and alarms were a great idea but by forcing factory fit, Thatcham screwed the aftermarket industry and the public, making car thieves change their methods and being responsible for numerous deaths and injuries as less sophisticated car thieves resort to car-jacking or stealing keys in burglaries. It's pretty obvious that some insurers take no notice of Thatcham in their quotations and who can blame them?
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12 March 2013