Insurance Group 2 Cars Explained
A car insurance group is a classification that insurance companies use to apply a appropriate level of premiums. The groups range from 1 (lowest) to 20 (highest)
with smaller and less powerful vehicles at the lower end of the scale and larger more powerful vehicles at the top. Insurance Group 2 Cars are usually small and less powerful, but there are other factors in play when deciding which one a car should fall into.
The other factors that are taken into account include, the power of the vehicle and its acceleration and top speed, the cost of repair if it is damaged and the price of replacement parts. Also taken into account is the length of time it would take to repair the car and its overall value, as well as the availability of a new body shell should it need replacing. A vehicles security and its protection from theft with the use of alarms, door locks and glass etching is another factor.
This rating system is managed by The Motor Insurance Repair Research Centre, who pass on their research data regarding different models of car to a panel, who then place them into their appropriate groups according to this research.
These groups are assigned to vehicles as soon as they are launched. Older classic vehicles tend to fall into the higher groups, depending on their value. They also do not usually have the new safety technology that the newer vehicles have.
Group 2 cars are:
- usually smaller
- often hatchbacks with a 1100 to 1300cc engine
- These cars are not very powerful and are not generally used by families due to their small size.
- These cars are often a second car in a family, which is used as a run around or to go shopping in, rather than being used for long journeys.
The premiums on these vehicles are very low and affordable as there is less risk of accident or theft. They are also very safe to drive. These premiums however, maybe higher if the owner is new to driving or quite young, and if there are previous motoring offences.
Although the premiums may be even cheaper with group 1 vehicles, there is more choice of car within 2. There may also be better and more reliable cars within 2, which would make paying a little more a cost effective option.
In January 2010 a new system was introduced, which will place vehicles into groups 1 to 50, with 50 being for the most powerful ones. This new system is being slowly introduced and should become standard with the next few years. This new system was put into place as it was felt that the old system was not able to include all current vehicles accurately. When this new system is in place the group that vehicles are currently in will approximately double. So vehicles in 2 will become 3 or 4.
Insurance group 2 vehicles are ideal for newly qualified drivers, or for young couples who don't need a lot of space. They are also ideal for those who do not need a powerful car that will be able to handle long journeys.