Which Car Has the Cheapest Insurance?
The cars with some of the cheapest insurance include Volkswagen Up!, Citroen C1, Skoda CitiGo, Vauxhall Adam, Fiat 500, Hyundai i10, Toyota Yaris, Kia Picanto, Skoda Fabia, Dacia Sandero and the Nissan Micra. What do these cars have in common? A low insurance group. In most cases, the lower the insurance group, the cheaper the insurance.
According to a poll by NimbleFins, finding a cheap car insurance premium is one of the most important factors people care about when buying car insurance. With the average cost of car insurance nearly £500 a year, it is no surprise that motorists look for cars that are cheaper to insure. Having a car in a low insurance group can mean paying a fraction of the cost of insuring a car in a high insurance group. Insurance costs ranging widely from one vehicle to the next, depending on factors like the insurance group.
Insurance groups are determined by The Group Rating Panel and administered by Thatcham Research. The insurance group of a car is meant to indicate the relative cost of insuring it compared to other others. It can reflect many factors, such as the value of the car, ease and cost of carrying out repairs, likelihood of theft due to security levels and more. Insurance groups are used by insurance companies as one of many factors when determining how much to charge for insurance.
In addition to the insurance group, insurers also consider factors not related to the vehicle, such as where the car is kept and the driver’s profile – age, experience, driving record and so on.
Which car group is cheap insurance?
Cars in lower insurance groups typically have cheaper insurance. Car insurance groups range from 1 to 50, and all else being equal, a car in a lower group should be cheaper to insure than a car in a higher group. So cars in groups 1 through 5, for example, will have relatively cheap insurance. To get a feel for which cars fall into some of these groups, some versions of a Fiat Panda or 500X or a Ford Fiesta Hatchback would be in insurance group 5, for instance.
However, a certain make and model of car can have more than one insurance group. Different trim levels or engine sizes can mean that one version of a car falls in a different insurance group than another version. For example, take the Ford Fiesta. Versions at the low-end like the Style 1.1 Ti-VCT 70PS fall into insurance group 2, but the ST-Line 1.0T EcoBoost 140PS, with a higher spec and larger engine, lands in the insurance group 15. And that’s not even the version with the most expensive insurance. The 1.5 EcoBoost ST Edition is rated for insurance group 30! That’s quite a wide range for one make and model of car.
So if you are considering buying a car because you think it’s in a low insurance group, be sure to check the actual group for the specific make, model and trim you’re looking at before you make your purchase. Failing to do so can mean you’ll need to pay a much higher insurance premium than expected. You can find out about a car’s insurance group at Parkers.
Also, did you know that you can get car insurance quotes before you’ve purchased a car? You can even get quotes if you don’t know the registration number but just know the make, model and trim – although quotes are faster, easier and more accurate if you do have the registration number to hand. It’s always advisable to do this before you buy a new car to get an idea of your expected insurance costs.
What is the cheapest car insurance group?
The cheapest car insurance group is 1. Cars in insurance group 1 include versions of Hyundai i10, Kia Picanto Hatchback, Nissan Micra Hatchback, Skoda Fabia Hatchback, Volkswagen Polo Hatchback and Volkswagen Up!, among others. But remember, some versions of these cars will fall into higher insurance groups and cost more to insure than the most basic and cheap-to-insure insurance group 1 version.
What is the best car to get for cheap insurance?
While there is no “best” car for everyone, many of the cars in low insurance groups sport consistently strong reviews. For example, take the Volkswagen Polo – Autocar has rated the Polo with 4.5 out of 5 stars which are higher than most other cars with versions that fall into insurance group 1. The ever-popular Ford Fiesta also earned 4.5 out of 5 stars from Autocar and has some insurance group 2 versions. In addition, choosing a car with a good independent rating can help you save money in the long run because it might hold value slightly better than a car with poor ratings.