What are car insurance groups?

A collection of insurance industry representatives belonging to the Group Rating Panel are the people behind car insurance groups. This group meets on a monthly basis where they determine car insurance grouping which is strictly research-based.


Cars and groups

Cars that will be cheaper to insure and in the under 25 insurance group categories: Citroen C1, Peugeot 107, Fiat Panda, Volkswagen Fox and Volkswagen Beetle. To give you an idea of which cars would be expensive to insure, look at the 46 to 50 categories: Porsche Boxster, Jeep Grand Cherokee SRT-8, Ford Mustang, Audi TT Roadster and Alfa Romeo Giulia.

Why is it important to know your car’s insurance group?

You can determine the premiums of car insurance by knowing its insurance group. Insurance groups are numbered from one to fifty. The higher the number, the higher the rank and the higher your insurance premiums.

A factor you need to bear in mind is that it is not only the car price that determines the group. Other aspects also play a huge role and influence insurance premiums. Where you live and personal profile are also contributing factors.

However, cars with large engines are also most likely to cause a surge in your insurance premium.

Difference between motor trade insurance and insurance groups

Motor trade insurance allows you to drive another person’s car including working on it, collecting, delivering or servicing. It also offers asset cover in the motor industry that will be covering all aspects like business premises, office equipment, tools and cars you have in stock.

The advantage you have with motor trade insurance is that it is not a requirement to be in the motor trade full-time. In addition, you do not need to have business premises either, but trade from home or even mobile. The difference though is that it is for the trade industry as the name suggests and not for individual car owners. You can determine the premiums of car insurance by knowing its insurance group. Insurance groups are numbered from one to fifty. The higher the number, the higher the rank and the higher your insurance premiums.

How to keep premiums affordable?

When you own a car that does not belong to a low insurance group, get additional security enhancing systems like approved alarms and immobiliser. If you can afford it, pay a lump sum towards your policy which would reduce monthly instalments. When you own a car that does not belong to a low insurance group, get additional security enhancing systems like approved alarms and immobiliser. If you can afford it, pay a lump sum towards your policy which would reduce monthly instalments. You could pay increased excess voluntarily, which could potentially reduce your premium. In short, you need to shop around for the best insurer for your car.

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