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Author Topic: insurance group change  (Read 1217 times)

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sport

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insurance group change
« on: 04 March 2011, 20:23:09 »

Just found my insurance group from 13 to 27 for my omega dreding when  insurance is due
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tunnie

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Re: insurance group change
« Reply #1 on: 04 March 2011, 20:24:32 »

27? Don't think thats possible, a VXR8 is only group 20.....
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Entwood

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Re: insurance group change
« Reply #2 on: 04 March 2011, 20:34:03 »

There are 2 different insurance group scales .. one has 20 steps, the other has 50 steps

On the 20 step scale the Omega varies bewteen groups 12 and 17 depending on model

On the 50 step scale the Omega varies between groups 25 and 34 depending on model

Details from the Thatcham Register ... which hosts the ABI (Association of British Insurers) database

http://www.thatcham.org/abigrouprating/index.jsp?page=347&row=0

So you are comparing one list to another .... Apples and Pears  :)

AFAIK from Jan 2010 all NEW cars are on the 50 point scale...  :)


EDIT .. and from another source ..

Quote
Car insurance groups are set by the Group Rating Panel, which includes members of the Association of British Insurers (ABI) and Lloyds Market Association (LMA). The panel meets each month to recommend an insurance group for each new passenger car built to a UK specification. 70% of the information used by the panel in its assessment is based on research conducted by the Motor Insurance Repair Research Centre (Thatcham).

The panel assign cars to one of twenty groups. Cars in the highest groups, typically high performance models, are those which are likely to cost insurers the most in insurance claims.

Insurers may use the panel recommendations in their calculation of car insurance premiums but, as these groupings are provided as a recommendation only, they may choose to use their own groupings. Thatcham have recently introduced a new set of fifty groups, which they are using alongside the existing twenty groups in testing new cars. The move to fifty groups means that each model of car can be more accurately banded with similar cars. Some insurers are now using fifty groups in their premium calculations.


HTH  :)
« Last Edit: 04 March 2011, 20:43:04 by entwood »
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sport

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Re: insurance group change
« Reply #3 on: 04 March 2011, 20:51:30 »

Quote
Just found my insurance group from 13 to 27 for my omega dreding when  insurance is due

Found out when cheking pice on parkers it tells me its 27
The VXR8 is group 50
« Last Edit: 04 March 2011, 22:18:41 by sport »
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