Everything You Need to Know About Car Insurance Groups List 1

What is a Car Insurance Group?

Car insurance groups are categories which insurance companies use to determine the cost of your car insurance premium. Each car is assigned a group, typically from 1 to 50, and the cost of insurance is determined by the group your car is placed in. The higher the group number, the more expensive the car insurance. The lower the group number, the lower the premium. Different insurance companies use different groupings, so it is important to shop around to get the best deal.

What is Car Insurance Group 1?

Car insurance group 1 is the lowest group and is usually the cheapest to insure. It includes small city cars, superminis, and some compact cars. These cars usually have a small engine size, so they are cheaper to repair and less likely to be stolen. Examples of cars in this group are the Citroen C1, Peugeot 107, Fiat 500 and Volkswagen Up. As these cars are typically cheaper to purchase, the cost of insuring them is lower.

What Factors Influence Car Insurance Groups?

Car insurance groups are determined by a number of factors, including the price of the car, the engine size, the type of car, and the cost of repair parts. Generally, cars with larger engines, more powerful cars, and cars with higher priced parts are placed in higher groups. Cars with lower priced parts, smaller engines and lower performance are placed in lower groups.

What Benefits Does a Low Insurance Group Offer?

Cars in the lower insurance groups typically have lower premiums, which can make a big difference when it comes to the cost of car insurance. Many new drivers will choose a car from the lower insurance groups, as it can help keep their insurance costs down. The cost of car insurance can also be affected by other factors, including age, driving history, and location.

What is Thatcham Research?

Thatcham Research is a UK-based organisation which is responsible for determining the insurance group ratings of cars. They use a number of factors to decide the group a car should be placed in, including the cost of parts, the car’s performance and its security features. They also use information from the manufacturer and insurers to decide the group.

Conclusion

Car insurance groups are used by insurers to determine the premium for a car insurance policy. Cars in group 1 are typically the cheapest to insure, as they have smaller engines and lower priced parts. The cost of car insurance can also be affected by other factors, including age, driving history and location. Thatcham Research is the organisation responsible for determining the insurance group ratings of cars.