Auto Insurance Org. Publishes Model-Specific Loss Data

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Consumers can use the HLDI report to get a feel for how a particular model's car insurance losses deviate from the norm.

Last month the Highway Loss Data Institute, an auto insurance research organization, made its make- and model-specific loss data for 2007-2009 passenger models publicly available on its website. Along with government safety rankings and websites offering free car insurance quotes online, consumers in the market for a new vehicle can use this resource to better locate a quality auto that may be more affordable to insure.

The report includes data for hundreds of passenger-vehicle models, ranking them in relation to the average insurance losses for all vehicles. Viewers of the report can easily break down the statistics to view how particular models stacked up overall or across each of six types of coverage (collision, comprehensive, personal injury, medical payments, property damage liability and bodily injury liability). The rankings can also be viewed by vehicle style and size. Results are based on loss data during a period that began with the time of first sales of the vehicles and ended in May 2010.

Coming out on top in this year’s report was a mid-size sports model convertible with losses for all coverage types coming in at 47 percent below the average for all autos.

A small four-door model showed the highest losses relative to all vehicles, having losses that were 63 percent higher than the average for all autos.

Drivers looking for a new car may want to access the report in order to get a feel for how greatly a specific model’s insurance losses may statistically deviate from the norm. In addition to this information, consumers can use the resources at http://safercar.gov/ to become educated on how safe a particular model is considered to be.

Although average losses and vehicle safety will end up influencing the end price of insuring a car, positive rankings on the HLDI report and SaferCar.gov do not guarantee lower premiums. Insurers generally use their own data to calculate the final cost of coverage. These resources can, however, serve as useful guides.

To see how much it could cost to insure particular makes and models, consumers can go to http://www.onlineautoinsurance.com/quotes/free.htm where visitors can make use of the quote-comparison generator to get free side-by-side rate estimates from a variety of carriers.

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Benjamin Zitney
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