08-09-2019, 03:42 PM
Join Date: Jun 2018
Location: Gloucester, UK
Well 1 is cheap and 50 is expensive...
How are car insurance groups decided?
Insurance grouping is decided by the group rating panel, made up of members of the Association of British Insurers and the Lloyds Market Association) and supported by Thatcham Research. The panel decides which insurance group new car models fall into based on the following factors:
New car values: The price of a new car and its specifications are a guide to potential replacement and repair costs
Damage and parts costs: The likely extent of damage to each model and the price of the parts involved also indicate repair costs, and lower costs usually mean a lower group rating
Parts prices: A list of 23 common parts is used to compare one manufacturer’s parts costs to another
Repair times: Long repair times mean higher costs and a higher group rating. According to Thatcham Research, over half of all money paid out in motor insurance claims goes on repairing cars – so the cost of spare parts and repair times are major factors in pricing motor insurance
Performance: High-performance cars are at higher risk of frequent insurance claims, so acceleration and top speed are taken into account
Safety: Vehicles fitted with AEB (autonomous emergency braking) systems are more likely to avoid low-speed front-to-rear accidents and could make for a lower insurance group rating
Bumper compatibility: The alignment and structure of bumpers is a factor
Car security: Cars with security features, such as alarm or immobilisation systems and high-security door locks, could enjoy a lower insurance group. But if you lose a key or fob it will be more expensive to replace.
2018 Suzuki Ignis SZ5 + 2018 Yamaha MT-07