Sitemap

Know About Life

Car Insurance Group Classifications

2014-02-07   Views:9

Advertisement

Auto insurance premiums are determined by a large number of factors including the type of vehicle you are driving. Every insurance company in the United States classifies vehicles according to a rating system of its own actuarial devising. In Britain

Car Insurance Group Classifications

Auto insurance premiums are determined by a large number of factors including the type of vehicle you are driving. Every insurance company in the United States classifies vehicles according to a rating system of its own actuarial devising. In Britain, however, there is a standardised automobile group classification system that is used almost uniformly by the insurance companies that operate there. These classifications are determined primarily on the vehicles' general repair costs, engine power and safety features. Because different models of the same vehicle make may vary significantly, it is possible for these different models to fall into a number of the categories.

Lowest Groups, 1 to 7

Vehicles that fall into the lowest rating groups, one through seven, have low repair costs and good safety features and pose relatively low risk to other drivers on the road. Because they tend to be smaller vehicles, their overall values may be relatively low. Since the total risk to the insurance company is minor, the associated premiums are the lowest available. Examples of vehicles that fall into these categories, as of August 2010, are: Toyota Yaris hatchback, Volkswagen Polo, Ford Focus and Fiat Punto.

Mid-Range Groups, 8 to 12

The middle-range classifications, eight through 12, encompass most family-size sedans as well as more highly powered smaller vehicles. These vehicles have repair times and overall values that are considered average in today's marketplace. Some vehicles classified in these groups are: Volkswagen Passat, Toyota Corolla, Ford Fiesta 1.6 and certain models of Audi A3.

High-Range Groups, 13 to 16

You will find the typical high-end vehicles classified in the higher groups, 13 through 16. These vehicles require expensive repair parts and possibly even specialised repair techniques. They also tend to be powerful vehicles with higher liability exposures to insurance companies. Some examples of these vehicles include: BMW 3 series and 5 series, Jaguar S type and higher-end Audi A3 models.

Highest Groups, 17 to 20

The highest classification groups belong to the luxury vehicles. Here you will find cars that are beyond the price range of many people. Vehicle repairs often consist solely of replacing damaged parts rather than repairing anything. These vehicles pose the biggest risk to insurance companies and require the greatest amount of premium. Examples of these types of vehicles include: Porsche 911, Ferrari, Aston Martin and BMW M Series.

Car Insurance Group Classifications

Car Insurance Group Classifications

Category:MoneyRelease time:2014-02-07Views:130

Auto insurance premiums are determined by a large number of factors including the type of vehicle you are driving. Every insurance company in the United States classifies vehicles according to a rating system of its own actuarial devising. In Britain[More]

Different Car Insurance Groups

Different Car Insurance Groups

Category:FoodRelease time:2014-07-18Views:130

When purchasing a new car in the UK, you have more to consider than the type of make and model. You also need to consider what car insurance group that vehicle you have your eye on falls into. Every car built to the requirements of the United Kingdom[More]

Car Insurance Group Types

Car Insurance Group Types

Category:HealthRelease time:2014-07-28Views:130

Car insurance is required in America in 49 of the 50 states, making it one of the most common legally required items in the country. New Hampshire is the only state in America that does not require car insurance; however, proof of financial responsib[More]

List of Car Insurance Groups in the U.K.

List of Car Insurance Groups in the U.K.

Category:MoneyRelease time:2012-07-11Views:130

The United Kingdom uses a vehicle classification system that organises all vehicles into one of 20 groups for insurance purposes. A lower number means a smaller-value vehicle; a higher number represents a higher value or speciality vehicle. Depending[More]

How to reduce my car insurance premium

How to reduce my car insurance premium

Category:MoneyRelease time:2012-08-20Views:130

All vehicles driven on public roads in the UK are legally required to have some form of insurance. Although the market is highly competitive, many companies rely on the fact that their customers are not always fully aware of the criteria used to calc[More]

The best car insurance deals in the UK

The best car insurance deals in the UK

Category:HobbiesRelease time:2012-05-14Views:130

Introduction The best insurance deal for you depends on many variables: the value of your car, the number of drivers you want covered, your age and whether you have a no-claims bonus. Which? magazine lists deals in the UK based on an analysis of the[More]

How do I get cheap car insurance for an 18 year old boy?

How do I get cheap car insurance for an 18 year old boy?

Category:HobbiesRelease time:2013-12-25Views:130

To provide car insurance to a teenage boy, you have to be willing to shell out quite a bit of money. Studies and statistics work against this group, forcing insurance rates up because of their dangerous past on the road. Still, there are certain disc[More]

How to Become a Licensed Car Insurance Agent

Category:MoneyRelease time:2012-03-21Views:130

Insurance is one of the most recession-proof fields available. Many people choose to become car insurance agents for many reasons. Aside from job security, becoming an agent requires relatively little training. Also, car insurance agents can set thei[More]

What is voluntary excess on car insurance?

What is voluntary excess on car insurance?

Category:MoneyRelease time:2012-03-28Views:130

The language used in auto insurance policies can be confusing and obscure. Understanding the meaning of terms, such as "voluntary excess," can help you make responsible decisions when choosing auto insurance. Geography "Voluntary excess" is a term us[More]

How to obtain car insurance after a policy is cancelled

Category:HobbiesRelease time:2012-04-12Views:130

It isn't impossible to obtain car insurance after a policy has been cancelled, but it can be costly. Since car insurance is required in every state, you will be in violation of state law if you drive a registered vehicle on public roads without insur[More]

How to Add Drivers to Car Insurance

Category:MoneyRelease time:2012-07-24Views:130

Adding another driver to your car insurance policy can not only help you to make sure that everyone in your household is covered, but also fulfils legal requirements for coverage in some states. The process for adding a new driver is a simple one, an[More]

How to check my car insurance online

How to check my car insurance online

Category:MoneyRelease time:2012-10-06Views:130

During the "pre-Internet" age the only way to get information about your car insurance policy was to visit the insurance company in person, have a company representative come to you or telephone the company to speak with a customer service representa[More]

Penalties for car insurance fraud

Penalties for car insurance fraud

Category:MoneyRelease time:2013-02-07Views:130

According to the Coalition Against Insurance Fraud, fraudulent injury claims nationwide in 2007 increased payments by up to 18 per cent when compared to 2002 numbers, and the trend still continues. Especially when money is tight, it can be tempting t[More]

Top rated car insurance companies

Category:HomeRelease time:2013-02-22Views:130

Auto insurance is required by law in the United States, and there are many different companies that offer auto insurance. These companies offer many different options and coverage types and can also help you purchase your insurance and obtain a free[More]

How to Request to Cancel a Car Insurance Policy

How to Request to Cancel a Car Insurance Policy

Category:MoneyRelease time:2013-02-26Views:130

Auto insurance is a contract between you and your insurance company. Many companies automatically renew the policy after it expires unless they hear otherwise from you; however, cancel the policy personally, rather than letting it lapse. Notify your[More]

How to get cheap short-term car insurance in the UK

How to get cheap short-term car insurance in the UK

Category:HobbiesRelease time:2013-07-14Views:130

If you want to drive a friend or relative's car for a short period of time in the UK, say you've just come back home from university for a few weeks or are visiting from overseas, you'll need some form of temporary vehicle insurance to do so legally.[More]

How to compare car insurance

How to compare car insurance

Category:MoneyRelease time:2013-07-15Views:130

You are breaking the law in the UK if you drive a car that is not insured. Despite this, 1 in 20 motorists regularly drive without insurance, according to the Department of Transport. You run the risk of being fined or sent to prison for driving with[More]

How to Sue a Car Insurance Company

Category:LifestyleRelease time:2013-08-02Views:130

If you were involved in an automobile accident you need to understand your legal options. For example, if you are unable to come to a settlement with the insurance company of a driver who caused an accident in which you are involved, you may wonder h[More]

How to Become a Car Insurance Broker

How to Become a Car Insurance Broker

Category:HomeRelease time:2013-09-16Views:130

Brokers are independent insurance agents who represent many insurance companies at once. This way, they can offer a customer the best possible insurance rates and coverage. When working as a car insurance broker, you'll be required to analyse the rat[More]

How can I cancel my GEICO car insurance?

How can I cancel my GEICO car insurance?

Category:HobbiesRelease time:2013-11-11Views:130

Car insurance is a mandatory coverage, and it is important that your car is insured at all times. However, you may want to cancel your car insurance policy if you are switching to a new carrier or selling your car. If your auto insurance policy is wr[More]

Hot
Shopping online is usually convenient because you do not have to leave your home; however, it can be difficult if you are buying apparel, cosmetics or accessories since you cannot test this type of merchandise before the purchase. Fortunately, if you [More]
The Indesit IS70C dryer offers consumer a variety of heating options for clothing. The internal thermostat is so complex that it allows the user to determine the amount of moisture left in the clothing, based upon the setting and what the user wants [More]
The Delta Unifence is a fence system made for any Delta table saw, and is adaptable for use on other brands of table saws after small modifications to the saw table. Installing the Delta Unifence rail is part of setting up a new table saw. Installing [More]
The tree fern is native to a rainforest environment. There, many of the species are found growing in the shelter of the tall eucalyptus tree. In your home garden, whether you place it beneath a eucalyptus or in the shelter of an oak, the fern can thr [More]
When your teacher assigns several different graded papers in one class, it can be difficult to keep track of them. If assignments come with different point values, each one will be worth a specific percentage of your overall grade. In that case, some [More]
Attractive black enamel enhances the appearance of any kitchen while concealing stains that a lighter colour may not hide. Enamel stove tops do not require any expensive products to keep them clean. Use regular dish soap and baking soda to remove any [More]
You can use the Dremel rotary tool to grind glass with special bits designed for use with glass, such as the diamond or silicon carbide grinding stones. Apply water to the glass while grinding for safety. This keeps the glass dust from spraying into [More]
The Sony PlayStation 2 does not allow you to run games from a USB drive without modifying the system firmware or using software cleverly designed to bypass PS2 loading restrictions. Even with "modded" firmware, you still have to employ special "loade [More]
Rhythm clocks are run on sequence, with an inner set of intricate mechanisms that enable the clock as a whole to function. The rhythm of the clock is the natural tick-tock sound, and the swinging of the pendulum in the front of the clock keeps the pa [More]
Lithium-ion battery technology has advantages over other rechargeable technologies. One is that a lithium-ion battery holds its charge for a long time---loss of charge when not in use is slow, unlike NiCd, for example. There is also no memory effect, [More]