Cars With A Low Insurance Group
If youre looking to buy a new car, but want to keep your insurance costs down, choosing a car with a low insurance group rating is a good place to start.
In 2018, cars such as the Nissan Micra, Kia Rio and some Volkswagen Polo models fall into Car Insurance Group 1. While the Vauxhall Corsa hatchback and the Ford Fiesta are rated Group 2.
However, there are plenty of other factors to consider if youre looking to reduce the cost of running your car.
How Does The Current Insurance Rating System Work
As with the old insurance group system, the higher the number, the larger the premiums are likely to be. Although the official ratings are based on strong authority, insurers can actually choose whether to go by the official rating or to use their own groupings.
This could seem a little dubious to some, especially those of us who are liable to be paying particularly high premiums, but it does allow specialist insurers to appeal to a particular type of driver or owner without being shackled to a one-size-fits-all system.
So, how on earth do you find out what insurance group any particular vehicle falls into?
The good news is that despite insurance groups not being as big a talking point as they once were, its actually easier to find out what groups a car is in today than its ever been.
What Insurance Group Is My Car In
You can check which group your car is in on the Thatcham website. This lets you enter the specific details of your car, such as trim and fuel type, as well as the make and model.
To give you a couple of examples, new car models in group 1 include the Citroen C1 and the Vauxhall Corsa. At the other end of the scale, the pricey and powerful Audi R8 and the iconic Bentley Flying Spur are both in group 50.
If youre in the market for a new car and want to choose one thats in a low car insurance group to help keep insurance costs down, you can click on the links in the grid above to see popular models in each group.
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What Is A Car Insurance Group
Almost every new car built thats sold in the UK is assigned to a car insurance group.
Each car is assigned to one of 50 car insurance groups and each group is assigned a rating based on the level of risk an insurer feels they carry.
Cars with a Group 1 insurance rating carry the lowest risk to an insurer, for example they might have a lot of safety features or are only capable of moderate speeds.
Whereas cars with a Group 50 insurance rating pose a high level of risk – for example expensive super cars that are costly to repair could fall into this group.
While each individual insurer will use their own process to set car insurance premiums, car insurance groups give a good indication of approximately how much it will cost to insure your car.
Put simply, the lower the insurance group that your car belongs to, the cheaper it will be to insure.
How Are Insurance Groups Decided
Car insurance groups are decided by the Group Rating Panel, which meets on a monthly basis and is made up of representatives from the insurance industry, including the Association of British Insurers and Lloyds Market Association. Its decisions are based mainly on data provided by the Motor Insurance Repair Research Centre , which takes into account a range of vehicle characteristics, listed below.
How easy are the parts to come by if the car is damaged, who can fit them and how long will it take? A specialist paint job, for example, can increase the group allocation.
A list of 23 common parts from one manufacturer is compared with that of another. Those that generally cost less are allocated to a lower group category.
How much was the car worth when it was new? The price of a new car is often used to gauge that of a replacement or repair.
Cars with more powerful engines, capable of bigger speeds and acceleration, are deemed a greater risk, and will therefore end up in a higher group.
What was the car fitted with as standard that will lessen the chances of it being stolen? Does it have an alarm, immobiliser, glass etching or coded audio equipment?
The list of groups is intended to be used as a guide only, and an insurer may still apply its own ratings if it prefers. Most, however, will class cars in a very similar fashion, combining this information with a driver’s claims history and risks to calculate a premium.
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What Cars Are In Insurance Group 50
Bearing in mind that its cheaper cars in the lowest insurance groups, there are no prizes for guessing the kind of cars in insurance group 50. Top end luxury saloons, SUVs and sports cars get the top insurance grouping but owners of cars such as the Bentley Bentayga, Audi R8 and Mercedes-AMG GT will probably have the cash to shoulder the extra insurance burden. At the very top end of the market, owners of exotic supercars from Ferrari, Lamborghini and even more exclusive brands will often employ the services of an insurance broker to help keep the cost of insurance in check.
Let us take the effort out of searching for cars in low insurance groups. Read our list of the cheapest cars to insure in the UK…
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Car Insurance Group Check Tools:
Youll need to know exactly which vehicle it is youre looking for. Make sure the make/model/variant is correct as there can be vast differences between models in the same range.
For example, you might want to know what insurance group a BMW 4 Series falls into. A basic 420d model with a 2.0-litre diesel engine can be as low as group 29, but a 435d xDrive M Sport is a group 42, and an M4 is a group 50.
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Is There A Penalty For Cancelling
If you cant wait until the end of your policy to terminate it, your insurer will likely charge you a penalty. Generally speaking, the farther off your policy end date, the higher the penalty will be.
Keep in mind that you can avoid the penalty by notifying your insurance representative in advance that youd like to cancel your insurance on your policy renewal date or if you notify them before your policy comes into effect.
How Are Car Insurance Groups Decided
The Group Rating Panel a board of representatives from the insurance industry meet regularly to decide which car insurance groups different vehicles should be in.
They use data from Thatcham Research to identify which cars are likely to cost insurers the most in insurance claims.
Car models are then given a number between one and 50. As a rule of thumb, its high performance cars that top the scale, while cheaper run-arounds are lower down. Thats because theyre considered less risky by insurers.
But its not just about the price of a vehicle, there are lots of different considerations. Heres a quick rundown of what they factor in:
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What Do Insurance Groups Mean
Generally, the higher the car insurance group, the more you’ll pay to insure it, while lower groups are cheaper to cover you can quickly find out with our tool.
Insurers look at your cars insurance group alongside your history as a driver, whether youre keeping the vehicle in a safe place, and your annual mileage while theyre calculating your quote.
Each insurer will classify the risk of these things differently, which is why they dont all charge the same amount.
Thats why its always worth comparing car insurance before you buy, so you know what your premium will be.
How Do Car Insurance Groups Work
Vehicles are placed in each of the car insurance groups based on their scoring across a range of categories. These include their price, power, safety, and security features, as well as things like the cost of repairs, should the vehicle get into an accident.
They also take an internationally recognised crash impact test, to determine the vehicle’s damage resistance, and the cost required to repair the vehicle to its previous condition. The groups are used to determine the level of risk to insurance providers. The greater the risk, the higher the group number it belongs to, while lower-risk vehicles will belong in the lower groups.
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I Understand The Numbers But What Do The Letters Mean
The insurance group rating will be shown as a number and a letter . The letter refers to the level of security fitted as standard on the vehicle. As you expect, the security requirements increase as the insurance group increases, so if your car falls in a high insurance group, the better the security needs to be. There are 6 letters applied to car insurance groups.
A: Car meets all security requirements for its group.
D: Car doesnt meet the requirements for its insurance group and is placed in a higher insurance group.
E: Car has exceeded security requirements and is placed in a lower insurance group.
P: This is used when the data for the rating system was incomplete when the car was launched.
U: In some cases, the level of security for the car is regarded as unacceptable. This doesnt mean the car is uninsurable, but drivers must be made aware that some insurers may insist on upgraded security before providing cover.
G: Insurance group ratings are only allocated to vehicles built for the UK market. But the panel will list vehicles that are classed as imports under this letter.
How Can I Cut The Cost Of My Car Insurance
One of the best ways of reducing your car insurance costs is by driving a vehicle that is in one of the lower insurance groups. However, if you have a car in a high insurance group, there are ways of reducing your premiums further.
Enhance Your Security: Reduce the risk of theft or keep it off the road and parked in a locked garage.
Pay Annually: Insurers often give discounts if you pay annually, rather than monthly.
Excess: Pay a higher excess. This should lower your premiums if you were to claim during your policy.
Add A Named Driver: Add an experienced driver who has no claims or few insurance claims on their record.
No Claims Bonus: If youve not claimed on your policy before, youre in luck as insurers will likely give you a reduction in your premium for a greater no claims bonus!
Black Box: Install a black box in your car, where your insurer monitors your driving. The better your driving, the lower your premiums.
Drive Less: It might seem surprising or a bit daft, but its true. Youll likely be asked for an estimated mileage for a quote when looking for car insurance. If you drive less than intended in the year, it reduces the chances of you and your car being involved in an accident and its less likely youll make a claim.
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What Cars Are In The Lowest Insurance Groups
As you might imagine, its the small cars that are cheap to buy and repair that populate the lower car insurance groups in the scale.In group 1, youll find models like theKia Picanto, Nissan Micra and Hyundai i10, but its crucial to remember that insurance group placement is determined according to the specific model, engine and trim level youre buying. While the cheapest, least powerful Volkswagen Polo might be in insurance group 1, the more expensive, better equipped and faster models that youll encounter as you climb the range will be in progressively higher groups attracting bigger insurance costs.
What Cars Are Group One Insurance
Group one insurance cars are few and far between as new buys these days – but the Volkswagen Up and Polo are group one. Ignore the Volkswagen Up GTI and the 90PS turbo, and the entire range is between group 1 and 3, which means premiums dont get much cheaper.
Choose the Volkswagen Polo with the 1.0 EVO 80PS non-turbo petrol engine and you could enjoy insurance premiums based on the lowest group 1 banding. This makes it one of the cheapest small hatchbacks to insure .
Models like the Nissan Micra, Fiat Panda, Vauxhall Corsa and various other low-powered, cheaper cars are also worthy considerations if youre looking for low insurance groups.
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Information Derived From The Assessment Of A Vehicle Is Taken Into Account Including The Ease Of Vehicle Repair And The Level Of Security
Thatcham Research provides the ABI Group Rating Panel with information used to establish the insurance group of every private motor car registered in the UK. To find out your vehicle’s insurance grouping as well as a wealth of other ratings information from Thatcham, please visit our ‘My Vehicle’ page.
Find The Best Vauxhall Corsa Insurance
Most insurance companies in the UK will offer insurance for a Vauxhall Corsa. You can compare a huge range of quotes from leading insurers by clicking on the button below.
- The name Corsa is derived from the Italian word for race.
- Some Corsa models have a hidden shark design on the hinge of the glove compartment.
- 2 million Corsa models have been sold in the UK, and 9.86 million have been sold globally.
- The Corsa was known as the Vauxhall Nova from 1983 to 1993.
- The Corsa is currently considered the 8th most popular car in the UK.
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Fiat 500 Insurance Cost By Location
The table above shows the average cost of Fiat 500 insurance based on insurance groups and driver age, but location also affects the cost of your premium.
To show the power of the postcode, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Fiat 500 1.3 Multijet Pop Star 2d.
- Expensive: £948
What Does A Cars Insurance Group Mean
Most insurers use the group rating system to help them establish the premium youll pay for a specific car.
To put it simply, the lower the insurance group number, the cheaper a car will typically be to insure. Some insurance providers may have their own insurance rating system, but these are likely to be based on similar factors.
Bear in mind that, while a cars insurance group will have a big impact on the cost of insuring it, this doesnt mean that 2 people with the same car will necessarily receive similar quotes. The price you pay for insurance will also be influenced by factors such as where you live, your age and a history of previous claims.
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Insurance Group Security Ratings Explained
- A A car meets the security requirement for its group.
- D These vehicles have been moved up an insurance group because their security doesnt meet the minimum standard.
- E Security exceeds the requirements for this type of car, so it has been moved into a lower insurance group.
- P This provisional rating is temporary and only issued when a car is launched before its security has been fully assessed.
- U An unacceptable security level. Insurers may require extra features – such as an alarm or steering lock – to be fitted.
- G Cars imported from outside Britain and not sold here are not assessed. Their insurance group is listed as G.
What Is The Cheapest Insurance Group
Every car on the market belongs to one of 50 car insurance groups set by the Group Rating Panel . Insurers can also use their own grouping system if they want.
Typically, the lower a cars insurance group number, the cheaper it will be to insure. This means cars in insurance group 1 are likely to be the cheapest cars to insure, while those in group 50 will be the most expensive.
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How Many Groups Are There
The insurance group system was established about 40 years ago. There were only 9 groups which your car could fall into. In the early 1990s, this was increased to 20 when more varied cars appeared on the roads. In 2006, the system changed again to reflect even more car types and technologies that manufacturers were introducing, bringing the total to 50 groups. All new cars are now classified using the 1-50 scale.
The Group Rating System
The Group Rating System is administered by Thatcham Research, on behalf of the Association of British Insurers .
Members of the ABI and Lloyds Market Association make up the Group Rating Panel, which meets every month to set new car models to an insurance group.
There are 50 different car insurance groups – those in insurance group No.1 are the cheapest cars to insure while those in insurance group 50 are the most expensive.
The number of insurance groups has changed in recent years. Until 2009, the number of car insurance groups were 1-20 but this has been expanded – this means, according to Thatcham, that ‘each model of car can be more accurately banded with cars of similar characteristics and therefore create a more precise Group Rating System.’
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