Car insurance groups table
Buying car insurance can quickly become a daunting prospect; with so much terminology and a plethora of companies to choose from, deciding which policy best suits a vehicle can be a confusing process. However, the two main criteria which determine the most important part of car insurance quotes are the type of car and the type of driver.
The type of driver is relatively self explanatory: men typically pay more than women and the younger the motorist, the higher the quote is likely to be. When it comes to the type of vehicle however, a car insurance groups table can be used to easily explain why certain cars come with lower premiums than others.
There are 50 different categories in the car insurance groups table that cover vast majority of vehicles on the road today. Each month, the Group Rating Panel made up of representatives from almost every insurance company meets to discuss the groupings of every passenger car built to UK standards, while research carried out by the Motor Insurance Repair Research Centre is used to determine which model belongs in which group. A general rule of thumb is the more expensive or the more powerful a car, the higher a group it is likely to belong in. And the higher the group, the more the insurance quotes are likely to be.
It isn’t just the cost of the vehicle or how high its brake horsepower is, though, that determines which group it belongs in; other factors are also taken into consideration. As repairs account for the majority of a claim’s cost, how much a typical repair is likely to total for any given vehicle is another of the major factors. This can include how easy it is to source particular parts as well as how straightforward or how long it would take to fit the parts. The harder it is to source and fit, the higher a car ranks in the car insurance groups table.
Many new vehicles now come with security features installed as standard across the range. The harder a car is to steal or vandalise can affect its rating; a vehicle with many security features can expect to rank lower in the table than a similar model without such features.
Measures to keep the cost of a car in a higher ranking down can include keeping it in a secure location such as a garage overnight or installing additional security features. However, it’s best to check the car insurance groups table before purchasing a new vehicle to gauge how much an insurance premium is likely to cost. As different manufacturers offer similar models, it may be possible to secure a discount on insurance quotes simply by using the table to compare where different models rank.
Car insurance comparison is always the best way of securing a cheap quote. By going online and making use of a comparison website, finding and purchasing the best possible policy can be an easy and simple process.