Introduction
Car insurance groups as you probably already know are ‘suggested’ group numbers given to cars by the Association of British Insurers. Now based on these numbers, your insurance company will calculate your premium coverage. You can pay this premium coverage either monthly or annually depending on the availability of such options. It’s not important that your car insurance company will be doing this as it is not enforceable by the law.
That is why these are ‘suggested’ insurance groups. However it does standardize the premium calculation procedure and you will not feel cheated by your insurance company. Therefore we highly recommend that you choose such insurers who incorporate car insurance group ratings in premium estimation. In the long run it will be of great benefit to you and your car. It’s all very well that your insurer will assess your car and give it an appropriate group number; but you also need to know how the insurance groups are worked out and how you can use them to your maximum advantage. The better informed you are, the better choices you will be able to make.
Car Insurance Group Numbers
Numbers are not given randomly in fact the range extends from 1 to 20. If your car falls between groups 1-4 then it means that you will have to pay a small amount of insurance money, and if your car falls in between groups 5-9 then you will have to pay a higher amount of money and if your car comes under the range of 15-20 then needless to say you will be literally burning a hole in your pocket.
Estimated Repair Expenses
A car naturally goes through the process of wear and tear, thus from time to time it will need some type of occasional repairs. If you own a car or a vehicle that in future is liable for several repairs then it will automatically obtain a higher insurance group number. All cars are estimated in this manner as each one of them has estimated repair expenses.
Price Of Spare Parts Of Your Car
Owning a Honda civic means that spare parts will be readily available. Also because it is a common car model in UK this means that its spare parts will be inexpensive. So when the cost of spare parts of your car is low it means your car will most probably be bracketed in the group numbers ranging from 1-4, this means that you will be paying a lower coverage premium.
Fix And Mend Duration
The time it will take to fix and mend your car is also part of the car insurance group system. The longer it takes to do so, the more possibility there is for a higher insurance group number. Therefore it is critical that when you are car shopping you find out all major and minor details from the car salesman. Don’t get taken in by the fancy body frame of the car and its state of the art fittings as if a car has an extensive fix and mend duration then it means you will be paying a very high insurance premium. |
