There are many factors that go into determining which insurance group a car should be placed in. One of the biggest factors is the repair costs involved following an accident. Typically, cars that cost more to repair become more of a risk for insurers to cover.
Factors that affect the grouping of a car include:
- Performance: A car's 0-60mph time and top speed can influence the insurance group. High-performing cars typically have more frequent insurance claims.
- New car price: Newer, more expensive cars tend to be more costly to replace.
- Parts pricing: This is the cost of replacing car parts if the car is damaged. A list of 23 of the most commonly damaged parts is considered when a car needs to be repaired.
- Security: Enhanced security features help protect your vehicle against thieves, and may also help the car be placed in a lower insurance group.
- Repair time: Long repair times could mean a higher insurance group rating and higher costs as a result.
- Car bumper: The performance of a bumper in an accident can also affect how the car is grouped.
To calculate repair costs, Thatcham engineers use an internationally recognised impact test where each car is put through a 15Km/h impact then assessed to determine the cost and time involved in returning the car to its pre-accident condition.