Why Does A Car’s Make And Model Impact On Insurance Costs?

As you may well know there are various factors that affect the premium you pay for your car insurance. For instance, your age and driving experience have a significant impact on premiums.

A BMW X6 comes under insurance group 50

A new BMW X6 will cost more to insure than a new Citroen C1.

Where you live – as you may reside in an area that has a reputation for theft. What you use the car for – so if it is just used to commute to and from one place of work your car insurance will be cheaper than if it were also used for business purposes.

Other things include such things as the level of cover, the number of miles you drive, whether you have any convictions and who else is insured to drive the vehicle.

However, there is another important factor that will have a bearing on your premiums and that is the make and model of car that you wish to insure. Every car comes under one of fifty insurance groups with a car that fits in group 1 being cheaper to insure than one that is in group 50.

For instance, a Citroen CI or Hyundai i10 would come under group 1. An Audi A8 saloon or a BMW X6 would come under group 50. The difference in insurance costs would be significant between a Citroen C1 and a BMW X6.

There are a number of reasons why this would be the case. For instance, the difference in the value of the cars has a bearing as if a brand new BMW X6 were written off it would cost the insurance company more to replace than a new Citroen CI.

The cost of replacement parts and repair work is a factor should your car be damaged and require a new wing. The BMW is likely to be more expensive than the Citroen CI for a new wing.

A BMW X6 is more likely to attract a car thief and be stolen than a Citroen CI so this risk factor will no doubt be built into the car insurance premium you pay.

So, when you are considering changing your car, you may wish to take a look at the various insurance groups to see where the car you are considering buying comes under.

This entry was posted in News and tagged , , . Bookmark the permalink.