Car insurance groups for prestige cars and supercars.

Car insurance is a complicated arena. But when you’re looking to insure a high-valued supercar or prestige care, perhaps for the first time, there’s a lot you need to understand. One essential piece of information is knowing which insurance group your car fits into.

In this article, our car insurance experts explain exactly what an insurance group is, how they’re rated and most relevant to you, and how this impacts the insurance on your premium car or cars.

What Are Car Insurance Groups?

Every car is classified into one of 50 car insurance groups, which are a major factor in how insurers calculate premiums. All other factors being equal, cars in lower groups are cheaper to insure, while those in higher groups attract higher premiums. Generally speaking, the more powerful and expensive the car, the higher the group it will be in, with the highest-ranking group being supercars. Groups get allocated by the ‘group rating panel’, which is made up of members of the Association of British Insurers and the Lloyds Market Association and is supported by Thatcham Research Centre using multiple variables like:

• Value of the car – a higher value means a higher group
• Repair costs and times – more expensive parts and longer repair times increase the grouping
• Performance, acceleration and top speed can lead to high-performance cars being in higher groups
• Cars with more safety features mean a lower insurance group rating
• Security features, such as alarm or immobilisation systems and high-security door locks, can lower the insurance group

Which Car Insurance Groups Are Supercars In?

Due to their value and performance, supercars are nearly always in Group 50, the top insurance group. Specialist motor insurers will, however, differentiate between specific models and variants when calculating the premium. Specialist supercar insurance is unavailable online, so please contact us at Elevate if you need to insure a supercar.

Which Insurance Groups Are Prestige Cars In?

Prestige cars are usually in insurance groups 40-50 and are determined by their vehicle rating, value, modifications or even the choice of your mechanic. Here are some examples of prestige cars within their associated insurance group:

Which Insurance Groups Do Electric Cars Fall Into?

Electric cars are considered more expensive to insure as repair costs are high, especially if batteries are damaged. This is compounded by delays in sourcing parts and high-cost inflation in this area.

As a result, electric cars may be placed in higher insurance groups than petrol and diesel vehicles of a similar class and specification, meaning they may be more expensive to insure. For example, depending on the variant, a Porsche Taycan is rated in groups 48-50. Teslas are also typically in the same 48-50 groups.

Factors Behind Insurance Premiums For Supercars And Prestige Cars.

Car insurance providers set premiums for prestige cars and supercars on a risk-by-risk basis after assessing various factors. This is NOT an online process and requires specialist insurance brokers such as Elevate to get the best price and cover combination. Factors we discuss with insurers on behalf of our clients include;

• Experience – The driver’s age and experience as younger drivers are more likely to be involved in road accidents due to inexperience.
• Driving history – previous cars you’ve driven relative to the car being insured. For example, five years of experience driving a Mercedes AMG C Class may be seen as better preparation for a Ferrari, while 12 months of driving a Ford Fiesta is less so.
• Claims history – Previous claims or driving convictions will increase premiums or make cover hard to arrange.
• Location – Your address may show some areas with higher levels of theft or vandalism than others.
• Your occupation – certain professions and occupations are seen as indicators, increasing or decreasing the risk.
• Vehicle storage and parking – where you keep your car can be critical.
• Security – The owner is prepared to install additional security, such as immobilisers and trackers, which are not considered in the group rating.

Find Out Which Insurance Group Your Car Is In.

It’s easy to find out which insurance group a car is in using the Thatcham guide.

Some cars will be allocated a group with a suffix letter (A, D, E, U, P, G), which refers to the level of security fitted as standard to that vehicle. The higher the group, the higher the level of security required.

• A = Meets security requirements for this group.
• D = Does not meet the security requirement for a car of this type, and the group rating has, therefore, been increased. (e.g. A group 9 car where the security requirement is not up to Thatcham’s minimum standard for that group will be listed as a 10D.)
• E = Exceeds security requirement for a car of this type, and the group rating has, therefore, been reduced. (e.g. A group 9 car where the security requirement exceeds Thatcham’s minimum standard for that group will be listed as an 8E.)
• P = Provisional – This is used in cases where the data for group rating was incomplete at the time of launch.
• U = Cases where the level of security for the model concerned is regarded as Unacceptable. This does not mean the car will be uninsurable, but consumers should be aware that individual insurers may insist on upgrading security before providing cover.
• G = Import – Insurance Group Ratings are currently only allocated to vehicles built for the UK market.

How Can I Control The Cost Of My Car Insurance?

If your car is in a higher insurance group, there are still ways to reduce your premiums, such as:

• Enhancing your car’s security features can reduce the chances of theft,
• Park securely, for example, in a locked garage, behind electric gates, underground parking or a secure storage facility.
• Increasing the amount you agree to pay towards any claims, known as the excess, will usually drive your premiums down. This can be covered with add-on excess protection insurance.
• Adding a named driver with lots of driving experience and few motor insurance claims can reduce the cost of your cover. Young named drivers with limited experience will likely increase premiums. Whereas some high-value insurance covers allow for any driver.
• Present your driving experience positively to insurers.
• Pay annually and avoid interest costs that are often levied on monthly payments.
• Driving less means you can give a lower approximate mileage, thus reducing the chances of you being involved in an incident and needing to claim.