Car insurance groups are a standardized system for rating automobiles for insurance risk purposes. Car insurance providers, in order to arrive at the premium you will pay to insure your car, will take into account a number of factors. For instance your age, sex, where you live, what sort of work you do, etc will all be a consideration when formulating your insurance coverage rate. Not surprisingly the make and model of your car will also be a significant factor in the insurance provider’s quote.
In order to simplify this process and standardize a reliable method of determining rates within the insurance industry a system of car groups has been developed. The car insurance groups typically range from 1 to 20, although in some cases the range is actually from 1 to 50. In any case car insurance groups start with group 1 as the cheapest car insurance group and progress in cost as the numbers increase.
The various groups are determined by the Group Ratings Panel, which is appointed by an association of automobile insurers and underwriters and whose job is to rate each car available in the marketplace to a car group. The Group Ratings Panel must take into account a number of factors to determine into which group an individual car most appropriately fits. The Group Ratings Panel will consider such things as the cost to replace the car at current prices, the cost of various combinations of parts and labor to make repairs as well as all car’s performance in crash testing and it’s ability to resist damage from various types of mishaps.
Obviously the more resistant a vehicle is to damage and the lower the cost to repair damage will result in a group with a lower number and therefore a lower rate of insurance.
In addition to the basic calculations for repair there are considerations given to the power and performance of a vehicle since high-performance automobiles are more likely to be involved in situations calling for major repair and even total replacement not to mention the fact that the more desirable a car tends to be the more likely it is to be stolen.
Security is also an important consideration, such things as locking and immobilization systems, manufacturer serial numbering and vehicle identification numbers and even hi-tech tracking systems all contribute to lowering the risk of theft and loss and therefore play an important role in the assignment of car insurance groups.
For most of us, the cost of insuring the car we are about to buy is an important consideration. Although it’s possible to have a ballpark idea of the cost of insuring a vehicle based on its value, make, model and performance, good sense dictates that determining a car’s insurance group prior to purchase can prevent a possible gut-wrenching surprise. Luckily there are a number of reliable sources available on the Internet that provide access to databases containing all the necessary information necessary to determine the exact insurance group for the make and model of car you’re interested in purchasing.
Considering the fact that car insurance is one of the most expensive aspects of owning an automobile, the wise purchaser should always “look before they leap”, as they say, before putting their money down.
Martin Oro, with several years experience in the automotive business, has been writing and blogging about various aspects of the automotive industry for some time now.
insurance ,lawyer ,mortgage ,attorney ,donate ,confrerence call ,degree ,credit ,electricity ,seo ,World Trade Center Footage,Webex Costs,Virtual Data Rooms,Structures Annuity Settlement,Sell Annuity Payment,Neuson,Online Classes,Nunavut Culture,Online College Course,Motor Replacements,Motor Insurance Quotes,Mortgage Adviser,Met Auto,Mesothelioma Law Firm,Massage School Dallas Texas,Low Credit Line Credit Cards,Life Insurance Co Lincoln,Insurance Companies,Injury Lawyers,How to Donate A Car in California,Home Phone Internet Bundle,Holland Michigan College,Royalty-Free Images Stock,Register Free Domains,Psychic for Free,Ph.D. in Counseling Education,Personal Injury Lawyers,Personal Injury Law Firm,PaperPort Promotional Code,Online Stock Trading,Online Motor Insurance Quotes,Donate your Car for Money,Online Colleges Health Records ,Personal Health Record,Hard drive Data Recovery Services,Donate Old Cars to Charity,Forex Trading Platform,Forensics Online Course,Donate Car to Charity California,Donate Car for Tax Credit,Car Insurance Quotes PA,Email Bulk Service,Donating Used Cars to Charity,Donating a Car in Maryland,Donate Your Car Sacramento,Online Criminal Justice Degree,Donate Your Car for Kids,Futuristic Architecture,Donate Cars in MA,Data Recovery Raid ,Dental seo company,Seo reputation management,Seo copywriting services,International seo services,International seo agency,Seo for plumbers,Seo marketing experts,Seo for ecommerce website,B2b seo services ,Best cloud hosting for wordpres,WordPress hosting services,Dreamhost web hosting,Best wordpress hosting,WordPress cloud hosting,Best managed wordpress hosting,Premium wordpress hosting,Fastest wordpress hosting,Dedicated wordpress hosting,WordPress vps hosting,Cloud based hosting providers,Best wp hosting,WordPress domain and hosting,WordPress hosting,Best magento hosting,Month to month web hosting,Vps wordpress,WordPress hosting sites,Best wordpress hosting sites ,Auto insurance quotes,Workers compensation insurance,Car insurance quotes,Compare car insurance online,Buy car insurance online,Auto insurance,Commercial auto insurance,Small business insurance,Professional indemnity,General liability insurance,e&o insurance,Business insurance,Car insurance,Insurance quotes,Insurance,Life insurance,Rental insurance,Homeowners insurance,Cheapest insurance,Life insurance quotes,Insurance forbusinesses,Insurance in a business,Car insurance companies,Loans,Mortgage Attorney,Credit,Lawyer,Donate,Degree,Hosting,Claim,Conference Call,Trading,Software,Recovery,Transfer,Gas,Electricity,Classes,Rehab,Treatment,Cord Blood
I am continuously invstigating online for tips that can assist me. Thank you!
Heya! I’m at work surfing around your blog from my new iphone! Just wanted to say I love reading through your blog and look forward to all your posts! Carry on the fantastic work!