Insurance Group – How to Find your Car Insurance Group

If you own a car, you know how important it is to keep it protected with insurance. But, did you know that the cost of your insurance premiums can be affected by the insurance group your vehicle falls into? In the UK, the Association of British Insurers (ABI) and Lloyds Market Association (LMA) categorize cars into insurance groups ranging from 1 to 50.

In this article, we’ll take a closer look at these groups, how they are determined, and how they can impact the cost of your insurance. So, buckle up and let’s get started!

What is Insurance Group

Insurance groups or insurance bands are a crucial aspect of the vehicle insurance industry, as they help categorize vehicles based on their risk factors. This categorization is based on a range of factors, including the cost of repairs, safety features, and the likelihood of theft. The insurance groups are established by the Group Rating Panel, which is made up of representatives from insurance companies and other industry bodies.

The panel utilizes data provided by Thatcham Research, an independent organization focused on vehicle safety and insurance risk assessment. Thatcham Research collects data on various aspects of vehicle safety and provides this information to the Group Rating Panel, which uses it to assign each vehicle to a specific insurance group.

How many insurance groups are there?

The UK insurance industry is divided into 50 insurance groups, numbered from 1 to 50. These groups are determined by the Group Rating Panel, which considers several factors, such as the car’s performance, repair costs, safety features, theft risk, and historical claim data.

The insurance group number of a vehicle typically reflects its safety and risk profile, with lower numbers indicating lower risk and cheaper insurance premiums. Therefore, it’s essential to understand the insurance group of your vehicle to make informed decisions while purchasing car insurance.

What Insurance Group Numbers Mean

Insurance group numbers serve as a way to categorize vehicles based on their risk factors, ultimately influencing the cost of insurance premiums. Here’s what the insurance group numbers mean:

Low Risk: Vehicles placed in lower insurance groups (e.g., Group 1 to Group 10) are considered low-risk by insurers. These cars typically have lower repair costs, high safety ratings, and are less likely to be stolen. As a result, they attract lower insurance premiums.

Medium Risk: Cars in moderate insurance groups (e.g., Group 11 to Group 30) may have average safety features and repair costs. Insurance premiums for vehicles in these groups vary depending on other factors such as the driver’s age, driving history, and location.

High Risk: Vehicles categorized in higher insurance groups (e.g., Group 31 to Group 50) are perceived as high-risk by insurers. These cars often have expensive repair parts, higher performance capabilities, and may be more prone to theft. Consequently, insurance premiums for cars in these groups tend to be higher.

Understanding insurance group numbers allows consumers to assess the potential insurance costs associated with different vehicle models before making a purchase. Opting for a car in a lower insurance group can lead to significant savings on insurance premiums over time.

The Difference in insurance group prices

The difference in insurance group prices primarily stems from the varying levels of risk associated with different vehicle models. Here’s how insurance group prices differ:

Lower Insurance Groups:

Vehicles in lower insurance groups typically have lower insurance premiums. These cars are considered low-risk by insurers due to factors such as affordable repair costs, high safety ratings, and lower likelihood of theft.
Insurance premiums for cars in lower groups are generally more affordable, making them an attractive option for budget-conscious motorists.
Examples of vehicles in lower insurance groups include small city cars, family hatchbacks with modest engine sizes, and models with advanced safety features.

Medium Insurance Groups:

Cars in moderate insurance groups have average risk factors, leading to moderate insurance premiums.
Insurance prices for vehicles in these groups can vary depending on additional factors such as the driver’s age, driving history, and location.
Medium insurance group cars often include mid-sized family cars, compact SUVs, and some entry-level luxury vehicles.

Higher Insurance Groups:

Vehicles categorized in higher insurance groups are considered high-risk by insurers, resulting in higher insurance premiums.
Cars in these groups typically have expensive repair parts, higher performance capabilities, and may be more attractive to thieves.
Insurance premiums for cars in higher groups can be significantly higher than those in lower groups, making them less economical options for many motorists.
Examples of vehicles in higher insurance groups include sports cars, luxury vehicles, high-performance models, and larger SUVs.

Overall, the difference in insurance group prices reflects the varying levels of risk associated with different vehicle models. Motorists can save money on insurance premiums by opting for cars in lower insurance groups and considering factors such as safety features and repair costs when purchasing a vehicle.

How to Lower Your Insurance Costs

While insurance groups largely dictate premiums, there are steps you can take to mitigate costs:

Choose Wisely: Before purchasing a vehicle, research its insurance group rating. Opting for a car in a lower group can result in significant savings on insurance premiums.
Enhance Security: Installing approved security devices, such as alarms and immobilizers, can reduce the risk of theft and potentially lower insurance premiums.
Safe Driving: Maintaining a clean driving record demonstrates responsible behavior to insurers, which may lead to discounted rates.
Consider Telematics: Some insurers offer telematics policies that track driving behavior. Safe driving habits can result in lower premiums, regardless of the vehicle’s insurance group.

How to find your car insurance group

To determine which insurance group your car is in, take the following actions:

Car Details:

Gather the following information about your car:

Make
Model
Year
Number of doors
Fuel type
Transmission

Use an Insurance Group Checker:

Several online tools and services allow you to check your car’s insurance group. Here are some options:

MoneySuperMarket: Visit their Car Insurance Groups Checker and enter your car’s registration number or search by make and model.
Compare the Market: Use their Car Insurance Group Checker by providing the necessary details.
Thatcham’s My Vehicle Search: Thatcham Research’s website provides accurate information, including insurance group and Euro NCAP crash test rating

Conclusion

Understanding insurance groups is essential for anyone looking to save money on car insurance. By knowing how vehicles are categorized and the factors influencing these groupings, motorists can make informed decisions when purchasing a new car. While insurance groups provide a general guideline, individual circumstances, and insurer policies can also influence premium rates.

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