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Insurance groups and how they work

Much of the cost of automotive insurance is defined by Car Insurance Groups in the UK in the sense that the lower your insurance group, the lower your premium will be.

With this in mind, it would be worthwhile to gain some understanding of how the Car Insurance Groups are defined and how each model of car fits in to its group.

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The Car Insurance Groups that sit in the lowest roads tax bands (A, B, C, D, and E) are those numbered from 1 to 12 and each car is categorised accordingly by make, model and trim. For a list of the cheapest cars to insure click the following link: cheapest cars to tax and insure or visit 123.ie for a deeper explanation or for a detailed insurance quotation if you live in Ireland.

If you are thinking about buying a car and would like to know how much it would cost to insure, it would be advisable to visit any of the many comparison websites, which will enable you to accurately assess the policies offered by around 80 percent of car insurance companies in the market in a matter of minutes.

Every single car adhering to UK specifications is assessed by the Group Rating Panel, which is comprised of members of the Lloyds Market Association (LMA) and of the Association of British Insurers (ABI). The members of this panel meet on a monthly basis to assess information passed on to them by Thatcham (alternatively monikered the Motor Insurance Research Centre).

The panel assigns new car models to the different Car Insurance Groups, of which there are 50.

Generally speaking, the cars in the highest numbered Insurance Groups are the higher-powered models – the reason for this being that these high performance cars are more prone to accidents, more likely to be subject to insurance claims and, thus, higher premiums.

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