Once upon a time there used to be a few insurance categories and if you were in group 10 it was going to cost a fortune. This evolved to somewhere between 1 and 50.
This is being changed with a new system that assesses new cars for five core characteristics.
New cars are given a Vehicle Risk Rating. This gives the insurance companies the flexibility to provide cover on more granular levels of risk assessment.
Each characteristic will be scored out of 100 – where 100 is higher risk. The Vehicle Risk Rating will have all five scores together with an overall figure.
The five vehicle rating assessments:
Performance – Evaluates vehicle characteristics such as speed, acceleration, and the impact of modern powertrains.
Damageability – Assesses how design, materials, and construction influence repair costs and damage severity.
Repairability – Focuses on the ease and cost of repairs, encouraging repair-friendly vehicle designs.
Safety – Analyses active and passive safety systems, including crash avoidance features.
Security – Examines physical and digital security measures, leveraging Thatcham Research's New Vehicle Security Assessment expertise.
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