Insuring a Fiat 500
Many people would assume that the Fiat 500, as a small car, is cheap to insure. Well, as illustrated above, the sheer variety of options and prices means that it’s not quite as straightforward as it seems.
To start with, your insurance is going to depend very much on you, for example:
- Your age
- How long you’ve been driving
- How many miles a year you’re going to be doing
- Where you live
In addition, factors relating to the car are also important:
- Its market value
- Its ‘insurance grouping’
The insurance grouping is a system devised by insurers that gives each car a number between 1 and 50, 1 being the cheapest and 50 the most expensive.
It takes into account a number of factors including the power of the vehicle, how cheap it is to repair, the cost of spare parts and how easy they are to obtain.
Model Insurance Group
500 MPW 8-17
As can be seen from the table there is a big difference between the groups.