Getting your car insured is an important part of your vehicle's running costs. Cars have different insurance costs depending on their shape, size, price and age.
Whilst we do not provide insurance at Chorley Group we can help advise on what factors to take into account when insuring your new vehicle. All cars in the UK are legally required to be covered on some form of car insurance. All vehicles fall under one of 50 different insurance groups.the lower the number of the group the cheaper the insurance costs.
There are three different types of insurance to choose from. At a minimum you are legally required to be covered for Third Party Only Insurance (TPO). This is only basic cover including damage to other vehicles and persons where you are found at fault of an incident. Repair, theft and damage to your vehicle aren't covered.
The second type is Third Party, Fire and Theft (TPFT). In addition to TPO, this insurance type covers your car if it's stolen and damaged as a result of attempted theft or fire. Comprehensive Insurance is the third and maximum level of cover and includes everything in TPO and TPFT but also covers any damage or accident that occurs in your vehicle.
The insurance costs for UK vehicles are based on the Group Rating Panel by Thatcham Research. The Group Rating divides all vehicle into one of fifty different insurance group, starting smaller engine cars in Group 1 to more expensive vehicles in Group 50. Repair costs of a particular vehicle are also an important factor in determining it's insurance group as cars with less common or expensive components will cost more to repair in the event of an incident.
Cars are assigned to their insurance group based on a number of factors. These include: