Car insurance plays a big part in getting cheap car. Here we have discussed different car insurance groups and cheapest car to buy in 2021.
What is the cheapest insurance group?
Every car belongs to one of 50 car insurance groups on the market set by the Group Rating Panel.
The cheaper it will be to insure if the insurance group number of the car is lower. Which means those cars which are in group 50 will be the most expensive and cars belonging to insurance group 1 are likely to be of minimum cost to insure.
How are insurance groups decided?
When the panel examines on how to assign different car insurance groups to different cars they consider the following facts:
Repair costs: It is the cost of vehicle repairs which accounts for a huge amount of the money which is paid to the car insurance company’s .The labor costs and parts costs to repair the car are taken into account before being submitted to a car insurance group.
Cost of the parts: The lower the car insurance group will be according to lower the cost of the parts.
Performance of the car: It has been found that that drivers of high-performance cars which can reach high speeds are the most likely to make high insurance claims.
What is the cheapest car to insure?
Since it was first introduced in 1975 the Volkswagen Polo was a favorite small car and its popularity continue still 2020. With a decent boot space and modern interior, it is among the cheapest cars to insure.
2. Hyundai i10
Hyundai i10’s second generation is in car insurance group 1, which means other than previous models it is far cheaper to insure. Coming with a 1.0 liter engine the five-sweater Hyundai i10 which is packed with entertainment features.
3. Nissan Micra
Since the 1980s the Nissan Micra is available which is cheap to buy and insure. This models start in insurance group 1.
4. Ford Ka+
Introduced in 2016 the Ford Ka+ is an update to the original model which became hugely popular in the late 1990s. The Ford Ka+ ranges in insurance groups 1 and 2, which makes it a solid choice for the car lovers who are looking for a cheap car to insure.
5. Toyota Yaris
Introduced in 1999 Toyota Yaris was a reliable and economic car. It offers a spacious interior, it’s also cheap to insure, with models starting in group 2.
6. Smart Fort four
The Smart For four is a more practical choice which is less recognizable than its two-seater cousin, Smart for four should be cheap to insure. The Pure version belongs to insurance group1.
7. Skoda Citgo
As a result of its low price and solid engineering the Skoda Citgo is in car insurance group 1.
8. Kia Rio
When it comes to small families the Kia Rio is a cheap car to insure, with models starting in group 1.
What are the cheapest cars to insure for young drivers?
Car insurance for young drivers and 17-year-olds drivers can be expensive, but by selecting a car in a low insurance group one can keep costs down, like those in groups 1 and 2. Volkswagen Polo and Hyundai i10 are cheaper options to consider.