New Insurance Groups

[markyb]

as anybody come across these new insurance groups

im about to buy a c3, insurance group 5. but when i rang my insurer more than. i was informed that it will be a group 9 and not a 5

abi now have 50 groups instead of 20

[raveydavey]

You are right, there are now 50 groups although confusingly some insurers are still using the old 20 group ratings at the moment.

 

It seems that almost everything has been moved "up", which no doubt means insurers will be able to charge more...I've heard a rumour that turbo diesels are also being moved up due to the "surge of mid range torque" - not entirely sure what that means but there you go.

[BigJohnD]

You are right, there are now 50 groups although confusingly some insurers are still using the old 20 group ratings at the moment.

The re-classification doesn't seem to be complete or universal yet.

 

The cost of motor vehicle repairs accounts for over half of all the money paid out in motor insurance claims, so it's no surprise that repair costs feature strongly in how the groups are defined.

 

The primary factors used to determine a car's rating rating are:

1. Damage and parts costs

2. Repair costs and times

3. New car values

4. Body shells and accident repairs

5. Car performance

6. Car security

 

You can check your car's rating here: http://www.thatcham.org/abigrouprating/index.jsp?page=343

[TurboSlag]

I've heard a rumour that turbo diesels are also being moved up due to the "surge of mid range torque" - not entirely sure what that means but there you go.

It's because of the trade in stolen diesel engines for taxis.

 

Despite what the insurers publicly tell you, there is no relationship between a cars performance and your likelyhood of being involved in a collision - our very own government has proven this, with a piece of research into accident statistics by the TRL.

 

There is, however, a general correlation between a cars performance and its value, and if you can afford such value they see it as an indication your ability to pay a higher premium, and that is what insurers look at.