Car Type Considerations For Auto Insurance

By Compuquotes Team on March 27th, 2008
Auto Insurance

Did you know that one of the considerations when you purchase a car should be the cost of your insurance? The Highway Loss Data Institute analyzes the costs to insurance companies based on theft, collisions and injury insurance claims as they relate to specific types of vehicles. The institute looks at the color of the vehicle, how many doors it has and even breaks the vehicles down by type, make and model. The institute is a non-profit organization for public service that is associated with the Insurance Institute for Highway Safety which is supported by vehicle insurers. The Institute gathers and processes information on the ways that losses vary among the many types of vehicles and then publishes the findings.

Theft for cars is much more likely to happen for a two-door car than a four-door car, actually, four-door cars are 93 per cent less likely to have a theft claim than two-door cars. A Buick LeSabre has very little chance of a theft while a convertible Chevrolet Corvette has over five times the average rate of theft in claims-that seems to state the obvious, however the Toyota Celica has a 67 per cent higher chance of being stolen than that of a Toyota Camry.

Some of the best picks for ratings on crash tests have some of the highest insurance rates for vehicles. That's because the cost of the repairs to expensive vehicles are one of the many factors that are included in determining the premiums for your insurance coverage. So while it is important to check out the crash tests, remember to include the cost of the vehicle repairs when you are figuring in the cost of your insurance.

The best picks for 2006 included the Ford Five Hundred, Mercury Montego, Audi A6, Hyundai Entourage, Kia Sedona, Honda Civic, Saab 9-2X, Subaru Impreza, Saab 9-3, Subaru Legacy, Audi A3 and A4, BMW 3 series, Chevrolet Malibu, Lexus IS, Volkswagen Jetta, Rabbit and Passat.

The safety ratings of the vehicles also impact the cost of insurance for bodily injury that can be sustained in a collision, so it's still important to have a high safety rating on your vehicle to lower the cost of bodily injury and liability insurance on your vehicle.

You will be quite surprised at the basic run down for cars as they fall into the likelihood of injury, collision and theft and how they impact your insurance rates. It is important to check with your insurance company about the costs of insurance before purchasing a car of any type-sometimes the cost of the insurance can be the difference between being able to afford your car and struggling to make all the payments associated with your vehicle. A good idea is that when you find a vehicle or two that you want to purchase, get a few quote for the vehicle from insurance companies so you can compare the costs of insurance and add it to the monthly cost of your vehicle so you can ensure ahead of time that you will be able to afford the vehicle of your choice.

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