Satch
MB Enthusiast
- Joined
- Nov 24, 2003
- Messages
- 3,508
- Location
- Surrey
- Car
- S211 E320Cdi Avantgarde Estate & Toyota Land Cruiser
Ah, yes, 20 groups are no longer enough. Now we have 50! And of course some "adjustments" are being made.
"Changes to the motor insurance group rating system announced today by the ABI (Association of British Insurers) will ensure that motor insurance premiums more accurately reflect changes in vehicle technology and the range of new vehicles. In the last three years the range of new cars has risen 42% to 6,000 models.
The motor rating system takes into account factors such as costs of spare parts, crash repair times, and security to help insurers set premiums. It was last reviewed in 1992.
Under the group rating the number of vehicle groups will increase from 20 to 50, reflecting:
- the growth in vehicle types, such as ‘city’ cars;
- different repair techniques and materials;
- a wider ‘basket’ of spare parts, such as air-conditioning units;
- vehicle weight, as the heavier the vehicle the
greater the injury to people and property damage.
Motorists are unlikely to see any change until later this year, as insurers are currently adjusting their systems to the new ratings. The new ratings are advisory. The new system could impact on premiums, depending on individual vehicle characteristics, but will not in itself affect average premiums. "
Database: http://www.abi.org.uk/carinsurance/search.asp
"Changes to the motor insurance group rating system announced today by the ABI (Association of British Insurers) will ensure that motor insurance premiums more accurately reflect changes in vehicle technology and the range of new vehicles. In the last three years the range of new cars has risen 42% to 6,000 models.
The motor rating system takes into account factors such as costs of spare parts, crash repair times, and security to help insurers set premiums. It was last reviewed in 1992.
Under the group rating the number of vehicle groups will increase from 20 to 50, reflecting:
- the growth in vehicle types, such as ‘city’ cars;
- different repair techniques and materials;
- a wider ‘basket’ of spare parts, such as air-conditioning units;
- vehicle weight, as the heavier the vehicle the
greater the injury to people and property damage.
Motorists are unlikely to see any change until later this year, as insurers are currently adjusting their systems to the new ratings. The new ratings are advisory. The new system could impact on premiums, depending on individual vehicle characteristics, but will not in itself affect average premiums. "
Database: http://www.abi.org.uk/carinsurance/search.asp