Understanding Insurance Groups
Discussion
more than a bit surprised having done daughter's Insurance renewal with her to find that her 'new' car is a considerable 'jump' in terms of Insurance Groups, therefore premium.
Her 2005 Citroen C3 1.1 Petrol, Group 3/4 was replaced about six months ago with...
...a 2004 Ford Focus C-Max 1.6 TDCi, Group 14
Such an enormous difference in Grouping makes no sense to me....
anyone here able to make sense of it?
I used this website to check groupings
https://www.parkers.co.uk/car-insurance/insurance-...
Her 2005 Citroen C3 1.1 Petrol, Group 3/4 was replaced about six months ago with...
...a 2004 Ford Focus C-Max 1.6 TDCi, Group 14
Such an enormous difference in Grouping makes no sense to me....
anyone here able to make sense of it?
I used this website to check groupings
https://www.parkers.co.uk/car-insurance/insurance-...
Thatcham group cars according to a range of factors - performance, cost of repairs, standard security features, how they perform in accident crash tests etc.
Then insurers also have their own stats on vehicles. How often do drivers of a particular car make a claim? How often are they stolen? How many cars of similar nature do they already insure?
So on top of Thatcham category, insurers will apply their own pricing algorithms.
That said, a Focus 1.6TDCi is a more expensive car and more powerful than a C3, so I'd expect the premium to be higher.
Then insurers also have their own stats on vehicles. How often do drivers of a particular car make a claim? How often are they stolen? How many cars of similar nature do they already insure?
So on top of Thatcham category, insurers will apply their own pricing algorithms.
That said, a Focus 1.6TDCi is a more expensive car and more powerful than a C3, so I'd expect the premium to be higher.
Thanks Guys, yeah, does make some sense, specially if its the 108BHP variant of the two 1.6 TDCi's that Parkers list for this Model & Year, which it probably is, coz it goes like the clappers and I know its a 16v.
...and more importantly, its a good car and she's happy with it
...even though its the DV6TED with the bad reputation
...we'd wanted a Pug 206 SW, but had previously turned a bad 'un down earlier that day along with a second Pug and this was our 'third choice' for that day's hunting.
...but I gave it an especially thorough going over and at time of purchase, then made a really cheeky offer to the vendor, which he accepted (£500). Not being too familiar with the Blue Oval, I'd rather hoped to 'sidestep' the 1.6 issue, thinking this'd probably be a Ford engine (its not), but its been fine.
..and lets face it, at this end of the market, you can't go too far wrong!
Thanks again.
...and more importantly, its a good car and she's happy with it
...even though its the DV6TED with the bad reputation
...we'd wanted a Pug 206 SW, but had previously turned a bad 'un down earlier that day along with a second Pug and this was our 'third choice' for that day's hunting.
...but I gave it an especially thorough going over and at time of purchase, then made a really cheeky offer to the vendor, which he accepted (£500). Not being too familiar with the Blue Oval, I'd rather hoped to 'sidestep' the 1.6 issue, thinking this'd probably be a Ford engine (its not), but its been fine.
..and lets face it, at this end of the market, you can't go too far wrong!
Thanks again.
https://www.thatcham.org/what-we-do/insurance-grou...
Insurers consider various data for developing their pricing including group rating info and previous claims experience, ally it to their market niches (newer, mid or older cars - do they have a repair network to fix valuable cars or write off and pay out for cheaper ones, younger or older drivers, certain brands etc.) and current business priorities (more or less risk appetite, focused or diverse book etc.) and offer a price from there as to how keen they are for your business.
Insurers consider various data for developing their pricing including group rating info and previous claims experience, ally it to their market niches (newer, mid or older cars - do they have a repair network to fix valuable cars or write off and pay out for cheaper ones, younger or older drivers, certain brands etc.) and current business priorities (more or less risk appetite, focused or diverse book etc.) and offer a price from there as to how keen they are for your business.
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