Whether you choose to buy or lease a car, you should always consider the insurance group of the vehicle in order to keep the insurance costs down to a minimum. Let’s take a look at each insurance group and what they mean, just to make things a little easier for you.
In the UK cars are placed in group between 1 and 50, the factors insurance groups look at to determine the groups are as follows:
Damage and Parts
You’ll often find that not all cars have the same amount of damage, thus, not to state the obvious, won’t have the same repair costs. Generally speaking, the least expensive car parts often mean that your car will be in a lower insurance group – which in the short and long-term, will prove to be beneficial to your bank account and will leave you with a little extra money to save.
Repair Costs and Times
Obviously, the more time it takes for a car to be repaired, the more it will cost you. Because of this, higherrepair costs and more time will place the car in a higher insurance group – another main thing to consider is the type of paint finishes your car requires and the costs associated with this too.
New Car Values
The cost of a new car is taken into further consideration since it is considered a guide of what it will cost you to have the car repaired or even replaced should it be required.
Cost of Parts
The cost of parts is equally just as important as any other insurance type for the classification of cars into groups. A list of over 20 standard parts is used to compare the cost of the parts from numerous different manufacturers – this makes it easier for you to decide whether you want a more expensive part or whether you want to settle for something a little bit cheaper.
Although it might not be obvious, or even a major concern for some motorists, cars of a higher performance are more likely to be involved in an accident – which is obvious hence the relation to insurance claims. In this case, it might benefit you to settle for a motor that isn’t a high performer but only if the high-performance option isn’t needed, of course.
“Granted, safety advancements and features often mean less accidents on the road – whether it be a scrape, a bump or even an accident that could have been prevented with better safety features”,
Thomas Siltstone of Eden Commercials. “That said, cars with high safety standards are classified to lower insurance groups as they help prevent accidents and often mean that, if you do need to claim off the insurance, it’s bound to be less costly.”
So, to sum up, the safer your car is, and the more safety features it has, the less likely it is to be involved in an accident on the road. Thus, it’s less likely to rely on insurance to keep it moving, but it’s always reassuring to know that you’re as safe as possible in your car.
One of the most common insurance groups and important factors; bumper compatibility. This determines how a car will perform during an accident.
On the whole, car security is considered one of the most important car insurance groups, with features covering everything from security locking systems on the doors to immobilisation systems – these all help to reduce insurance claims costs, so the more secure your car, the less you’ll have to pay out on your insurance.