Car insurance groups ?

nashly

Are they important as to deciding the price of a policy ? I have just done a couple of quotes, one using my old car which is group 29 and one with my current car which is group 16.
The lower insurance group comes out £125 dearer than the higher one, why ?

Quentin

If both cars are the same age etc, then ask the insurer why!

nashly

Hi

My current car is 2007 and I put the value at £2000, my other car which I have just sold for £1000 was a 2002 model, newer car is a Hyundai Matrix 1.5 diesel and old sold one was a MG ZT 2.5 petrol.

Quentin

That explains the difference - compare like with like (on age especially), and you should see that a lower rated group car is cheaper to insure than a higher rated one.

InsideInsurance

Many insurers have created their own groupings etc for vehicles and therefore the ABI published groups can only be used as a very loose approximation.

clarebear19

I've rung my car insurance company and asked which insurance group they place my car in and they told me group 22, when I've been on the thatchams website and looked they have my car in group 13. Should I ring the insurance company back and question their grouping or does postcode etc come into it.
The guy at the insurance company said that different companies will base their quotes on which cars have a lot of claims.
Trying to get my insurance quote down from £800 for a VW beetle 54 reg approx 10000 miles a year, have an experienced named driver on the policy, keep it on a private drive at night-time.
Any other suggestions?
At the moment trying to find another car because I don't think I can justify that much on insurance.

raskazz

You will find that a lot of insurers will allocate cars into their own group rating system - eg using their own groups 1-99, 1-75 or some other extended set. The ABI groups are only advisory - insurers will adjust the grouping according to their own experience of the make/model.

forgotmyname

The grouping will only be how much will it cost to repair say a front end bump.

But if that insurer have paid out a high percentage of claims on that model then they will
have high premiums.

Back in the hothatch days, My local insurance guy was telling me that every customer that owned an XR3 had made a claim for theft, attempted theft, Criminal damage or had claimed for an accident.

Guy at work was paying more for his XR3 (group 12) than i was paying for my bigger/faster rover (group 16).

smith121

Can anyone suggest me what are the points that need to be taken care off while selecting insurance for vehicle?

InsideInsurance

forgotmyname wrote: »

The grouping will only be how much will it cost to repair say a front end bump.

That is one factor but not the only one. It will also factor in frequency of claim (assuming all other factors are equal) and so if you wanted to try and rationalise it then also includes both safety and security of the vehicle.

In reality if a vehicle is the almost exclusive domain of the 18 yo male driver then there is probably insufficient data of other drivers to normalise it properly and so it may have additional loadings because of that. There is certainly an argument that this is correct anyway as certain vehicles do have an affinity with certain types of drivers.

You dont see too many speed freaks deciding to buy the Audi A3 1.2 Auto

Spiderham

InsideInsurance wrote: »

That is one factor but not the only one. It will also factor in frequency of claim (assuming all other factors are equal) and so if you wanted to try and rationalise it then also includes both safety and security of the vehicle.

I assume your on about insurer's own (confidential) group ratings. The official ABI Thatcham advisory groups are purely based on the cost of repair based on replacement parts costs and labour time.

The Thatcham guys are specifically forbidden about talking about claims frequency risks as this would be collusion.