The long-established car insurance group rating system is being replaced with a new system assessing new cars for the five core characteristics of performance, damageability, repairability, safety and security.
Under the new scheme, every car going on sale in the UK since 1 August this year is being awarded Vehicle Risk Ratings in each of the five categories listed above. The move is designed so insurers can provide a more ‘granular’ level of risk assessment for ever-more complex cars and associated technology, while it’s hoped that consumers will be able to understand in more detail where individual models perform better or worse. Additionally, as has happened with the Euro NCAP safety programme, it’s hoped that focusing attention on the relative strengths and weaknesses of different models in key areas, will encourage manufacturers to respond and improve areas where they may be uncompetitive.
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