Car Insurance Bands
Do you know what a Car Insurance Band is?
Many of us get confused when told what band our car falls under when it comes to car insurance. The Insurance Group Rating Panel places all vehicles into 20 insurance groups/bands, band 1 is seen to have the lowest risk and band 20 the highest. The higher risk your vehicle, the more your car insurance will generally cost you.
How to work out what band your car falls in?
The size of your car engine is usually a good indication of the band your car will be categorised in, the bigger the engine, the higher the band and consequently the more it will cost you. Other features like car security, weight, top speed, power and the price of spare parts will impact the band your car fits in.
The website of the insurance industry's research organisation Thatcham has an online tool that will show your car's insurance band and security rating.
Also
Different models of the same car will fall into different bands, if the one you plan to purchase falls into a higher band, there may be an alternative model of the same car that will be classed as a lower risk (the engine may be smaller in size or the top speed could be slightly lower).
Remember
Check what car insurance band your car falls in before you buy. The lower the insurance band the lower the insurance premium will generally be.
Make sure you update your car with security fixtures as that could lower the cost of your car insurance.
By comparing car insurance with comparethemarket.com you can see some of the best prices available on the market today, make sure that you don’t end up spending too much for your car insurance and compare with comparethemarket.com today!
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