Gov. Reports Rank Models by Auto Insurance Claims History

Oct 19, 2010, 08:00 ET from Online Auto Insurance, LLC

LOS ANGELES, Oct. 19 /PRNewswire/ -- A batch of recent reports has identified specific car models that have been associated with above and below average rates of theft, insurance claims and claim payouts — all aspects to take into account when shopping for a vehicle.

Drivers in the market for a new car might not be aware of these factors, but they may end up affecting the price that the owners pay for automobile coverage. Since it's difficult for consumers on their own to judge vehicle aspects such as claims history and the likely cost of coverage, OnlineAutoInsurance.com recommends that shoppers review safety data and obtain free auto insurance quotes to see what additional expenses might be tacked on to that new ride.  

Although the main variables that will affect premiums will likely be related to information about the driver and the geographical area in which he or she will be driving most often, the type of vehicle still has a significant effect on premiums. If a particular model has higher-than-average statistics for thefts, claim frequency or claims costs, an insurer is likely to charge higher-than-average rates.

Luckily, the National Highway Traffic Safety Administration (NHTSA) makes available to consumers a yearly report that ranks a wide range of vehicles in relation to average collision insurance claims costs. The most recent report was issued in February 2010 and contains data for 2007-2009 models.

Source: http://www.nhtsa.gov/staticfiles/administration/program_development/2010_Comparison_Insurance_Costs.pdf

For drivers who live in no-fault states — which use a system that has insurers pay for a policyholder's own accident-related medical claims — safety ranking may also affect the price of coverage. Vehicles with higher safety rankings may be better-suited to protect drivers and passengers; this may indicate to an insurer that such a car is a better risk to take on than one with a lower safety rankings. The NHTSA also makes this type of information accessible through its safercar.gov site.

Shoppers looking to see how coverage prices can vary among models can visit http://www.onlineautoinsurance.com/quotes/free.htm to use the free quote-comparison generator, which allows consumers to input basic driver and vehicle data in order to quickly get premium estimates from a variety of carriers.  

SOURCE Online Auto Insurance, LLC



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