Car Insurance Groups List

Some People within the United Kingdom are not aware of the fact that the Car Insurance Groups List can make a significant impact on insurance premiums.  Why is this so?  Before addressing the preceding question, many consumers in Britain may (more appropriately) initially inquire:  What is a Car Insurance Groups List?  Quite simply, it is a list manufactured in a way that establishes the premium you pay with regard to the automobile you purchase.  It is a standard list; recognized throughout Britain.

Secondly, it works in the following manner:  The list is comprised categorically, with grouping numbers from one to fifty.  (As an aside, it use to be numbers were one to twenty; however, with the number of automobiles introduced into the marketplace, this number was expanded upon during the year 2009.)

The lower the number; the lower your premium.  In example, the number one is associative with a lower risk automobile; the number fifty is the highest risk vehicle.  Naturally, an automobile that is conservative and is not a high-performance machine is going to appear less risky to a (possible) insurer than (again) an automobile that can be driven at higher rates of speed.  The cars housing high-performance engines; or the luxury automobile is found toward the top tier of the Car Insurance Groups List. 

You can look at the list; and accordant with your (preferred) car's classification, determine the reality of paying an associated premium.  A panel makes the determination as to where new automobiles will fall (categorically) on the list.  The panel is referred to as the Insurance Group Rating Panel.

This highly-acclaimed panel is comprised of:  a)  Lloyd's Market Association; and b) British Insurers.  The Insurance Group Rating Panel meets on a regular basis, (generally monthly); and decides where particular brands of automobiles fall number-wise on the Car Insurance Groups List.

The panel makes its decision as to where the automobile will fall in line, on the respective list, taking the following factors under advisement or consideration:

1. They (categorically) look at the retail price of an automobile.  Naturally, the price is an indicator, if you were involved in an accident, how costly it would be for the insurer to honor your subsequent claim:  so the more pricey the car; the higher the automobile will be numbered.
2. They'll accordingly look  at how much it is going to cost to repair your automobile:  this number includes (naturally) labor and automotive parts; and is based on regular crash testing.
3. The panel will ask:  How easy is it to go from zero miles per hour to top speed?  The faster you can go; and within a very short span of time—the greater you may become involved in a motorized vehicle accident.
4. The panel (accordingly) reviews the cost(s) associated with the shell of the car.  There are many accidents where replacing the outside shell of the car is necessary.
5. A very prime variable is the number of security features on the vehicle.  Inclusive of this list are: a) alarm systems, b) immobilizers (used to prevent theft); and, c)  locks that are not all to noticeable—among other items. 

Naturally, if you are living in the UK, you will wish to review where the car, you are considering (purchasing), ranks within the Car Insurance Groups List.  The preceding activity proves beneficial prior to a new vehicle purchase:  By reviewing the list; you may be able to save hundreds of dollars, insurance-wise, with respect to the automobile you end up buying.