New insurance groups 1-50

[Rover Repair]

Group 15 to group 29.......

I see trouble ahead as the V8 ZT has went from group 19* to 40.

LOL. Another excuse to aim for one.

 

[Tony@Greenlight]

Just something else to clarify,

Each respective Insurer will adopt the grouping style that they favour (ie. some will keep the 1-20, some will go to the new listing) depending upon what suits them the most.

You also need to remember that the rating given by Thatcham & the ABI is the suggested starting vehicle grouping, which will vary from Insurer to Insurer depending upon their own claims experience.

One point I wish to reiterate is that this has been in use for over a decade with some Insurers and is not new news - so this really is nothing to panic about.

Kind regards

Tony

Hi Guys,

Just to let you know that this grouping system really isnt a problem to any of you.

It was an Insurer called Groupama that started to use this and it has been in place for over a decade now, so i'm not sure as to why Autotrader are featuring what is really old news again now.

The purpose of the 1-50 was to give Insurers that wanted to be more specific in relation to rating individual vehicle models the ability to do so.

You'll find the advised industry standard starting grouping (before Individual Insurer amendments) for your vehicle at this link thatcham.org | Research | Insurance Group Rating | ABI Group Rating

The search feature upon the right hand side of the page will let you enter details of the vehicle and if recognised by the Association of British Insurers (ABI) the vehicle will be shown with both a 1-20 or 1-50 suggested grouping.

Vehicles listed with a "G" in place of a number will be imported grey models that are left to the discretion of individual Insurers to apply group ratings.

In the event that the vehicle is not listed it is likely to be an imported model that is not recognised by the ABI, which will mean that a high proportion of UK Insurers will be unable to offer terms.

Kind regards

Tony

 

[Tony@Greenlight]

Hi Andy,

To clarify, we do cover Import turbo MR2's but have experienced an extremely bad time over the last 18 months upon rear wheel drive (RWD) high performance models (with E46 M3 and Toyota Supra models being the most problematic (and thats before the snow!).

The knock on effect of this is that the terms for these models will go skyward and it's likely we will require you to have either owned and insured the vehicle in your own name for at least the last 12 months, or have proven driving experience of a performance RWD vehicle in your own name for at least the last 12 months.

From the discussions that we have had to date with in excess of a dozen Underwriters this experience is not unique to us and most of them have experienced similar trends, which will lead to heightened terms from the whole market.

Kind regards

Tony

Tony thanks for clearing that up, the MR2 is a turbo'd import so has the G classification,

Incidently does greenlight cover import turbo MR2's

Thanks

 

[Souleh]

Noooooooooo! I want an mr2 and theres bob hope and no hope of me insuring them if even the performance insurers are going to require previous history with one

 

[RMS_CLK]

Doesnt list a number for mine, just says group type - G ???

 

[Tony@Greenlight]

Hi RMS_CLK,

If your exact vehicle is listed as "G" this is meant to indicate that it was either a "grey" import (ie. not first registered as, or intended to be for the UK market), or requires individual Insurers covering the specific model to provide their own grouping.

Kind regards

Tony