Friday, June 15, 2007
Cars From An Insurance Company's Perspective
There is nothing wrong with wanting to go for your dream car, except that at some point you will need insurance. It is therefore a good idea to have a balanced approach and also look at your car from an insurance company's perspective before you make your decision.
Insurance companies rely very heavily on all sorts of statistics in arriving on the insurance premium to charge for your car. This includes statistics on favorite models for car theft, collision costs and repairs for various models, fatalaties and so on.
The numbers clearly show that 2-door cars are stolen much more than their 4-door counterparts. 4-door cars have a 93 per cent less chance of having a claim elated to theft than 2-door cars. A Buick LeSabre is the kind of car that car thieves avoid and therefore the chances of theft are almost nil, according to statistics on car theft. On the other end of the scale a convertible Chevrolet Corvette is one of the most popular cars with thieves and has very 5 times the average theft rate.
As far as car thefts go, sometimes cars from the same manufacturer can vary widely. The Toyota Celica has a 67 per cent higher chance of theft than the Toyota Camry.
Then there are the cars that are the most costly in terms of collision claims. The key factor here is usually the high cost of repairing and expensive vehicle. In this regard, the Lexus IS 300 is one of the most expensive vehicles for collision claims.
When it comes to car safety, some of the leading models may surprise many. For instance the Porsche 911 has a 67 per cent less chance for injury claims than the average. On the other extreme, the Mitsubishi Lancer has almost double the injury claim rate over the norm.
