car type classes
Insurance is not rocket science. We explain everything you need to know about car type classes in this glossary article.
What are car type classes?
A type class is a class given to a vehicle that an insurer will use to calculate your insurance premium. This class is assigned based on the level of risk a particular model of vehicle poses. The lower the type class, the cheaper your insurance.
How is a car type class calculated?
A type class is assigned based on how many accidents or claims are related to certain model of car. Insurance companies look at how many incidents specific vehicles are involved in and what the repair costs amount to over the previous three years. Type classes are not permanent and change based on the previously mentioned criteria. It's worth noting that different tariffs, such as comprehensive coverage or third party liability, take into account the damage and costs covered by the individual policy. For example, damage caused by third parties to your vehicle would not affect the class for third-party liability as you are not able to claim for this.
Which type class does my car have?
You can find out which type class your vehicle is assigned with online search portals. You can find a comprehensive database here. As mentioned earlier, type classes are subject to change. Therefore, it's always a good idea to check just before getting an insurance quote.
How do type classes affect car insurance?
Your vehicle's type class is one of many things that insurer uses to calculate your premium. Each model of vehicle is allocated a level of risk based on the number of accidents and claims it was involved in over the last three years as well as the associated repair costs. The more incidents a car type is involved in, the higher the type class will be. As a result, higher type classes have higher insurance premiums. You can find out more about how car insurance prices are calculated here.