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Information on used car insurance groups
All motor vehicles are allocated a group rating by the ABI. These groups range from 1-20, and are used to calculate your insurance premium. When buying a used car it is important to take the insurance group rating into consideration. The higher the group rating the more risk there is to the insurers and therefore the cost of insuring that vehicle will be higher. Other factors taken into consideration by insurers include: who will drive the vehicle, where it will be kept, what it will be used for, the area in which you live, the level of security fitted to the car and the type of cover requested. The premium will be different for every individual so make sure you get quotes before you buy your next used car. The quotes may vary from company to company so remember to ask what is included in the cover for each quote you get. Find out the amount of excess that is payable for each quote you get. This is the amount of each claim that you must pay yourself. For example, if you have an excess of £500 then you will have to pay the first £500 of any claim you make and the insurers will pay the rest. Cheaper quotes sometimes have higher excess and vice versa. Find out any other benefits that are included in the quotes such as courtesy cars. This may be useful if you rely on your car for work, as you will be given a car to use while yours is being repaired. To find the group rating for a particular vehicle please click on the link below, this will take you to the ABI insurance group website. Enter the make and model of the car in the left hand boxes, make sure all the right hand boxes are ticked and then click submit.
Motor insurance protects motorists against liability in the event of accidents they may cause. It can also provide cover for the motorist’s own vehicle. Many different types of cover are available, ranging from third party cover which protects individuals against liability should they injure a third party or cause damage to a third party’s property, but does not provide any cover for the individual’s own vehicle or property, through to comprehensive cover, which can offer protection for accidental damage, theft, fire damage as well as liability towards third parties....
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