What are UK car insurance groups?
Note: It is now compulsary for insurance companies to take account of the 1-50 Thatchem rating system. The 1-20 system was abandonned in Jan 2010. You can check your car's rating here:ABI Group Rating
Car-Insurance-UK-Supermarket.co.uk
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ABI Group Rating The car insurance groups system in the UK assists insurance companies to determine appropriate prices for their motor insurance products. It is a voluntary system - there is no statutory obligation for companies to consult these listings - but they generally do, even if just by proxy when they price-watch competitors that have taken account of these car insurance groups in determining their own prices. The allocation of cars to the different car insurance groups is done by an experienced panel of car insurance industry insiders and these groups can therefore be seen as an authoritative guide for the industry as a whole. What is their significance to consumers? Well, if you buy a car in a low car insurance group, then this will help to keep down the cost of your car insurance cover. Thus a Vauxhall Corsa, that is in car insurance group 1, the lowest category, is a cheap car to insure and therefore a good choice for anyone who is in a high risk category that can expect more expensive car insurance such as the young driver, new driver, or anyone with previous motoring convictions. Very often, people do not consider the likely cost of insurance - that is, their car's position within these car insurance groups - when they buy a car and consequently end up paying many hundreds more than they might overwise have done if they had selected a more modest car. Certainly, we suggest to those high risk groups outlined above that it is wise to buy a car from the lower car insurance groups to avoid excessive insurance costs. If you do have a car from one of the high car insurance groups, then, if you are looking to reduce car insurance costs, it obviously pays to compare car insurance quotes online and you can link to our own price comparison service below to compare 100s of quotes at once. Of course, those from these higher car insurance groups typically have more disposable income along with a more quality-driven approach to their insurance needs and choices. Accordingly, in fact, going direct for a car insurance quote to any of the top motor insurers listed below is often a better choice to build in this quality control. The price paid via these car insurance companies will be competitive. There is no need to do an exhaustive search for the lowest price when you have a quality agenda. As car insurance costs increase above inflation every year, it does make sense to be aware of these car insurance groups and, whenever possible, to try to make an economic car choice at the point of purchase. |
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