Start Comparing Rates within Minutes!
Start Comparing Rates within Minutes and you could save!
Compare Rates Within Minutes!
- Complete 1 short quote form
- Compare rates from top insurers
- Save time & money!
NHTSA ranks auto insurance claims cost by model and yearPosted On Tue, February 22, 2011
With the release of the National Highway Traffic Safety Administration's comparison of insurance costs, people driving vehicles two or three years old will be able to assess how collision costs for their vehicle compare with the average. And according to the report, they tend to be higher for large sports cars and lower for passenger vans.
Using data from the Highway Loss Data Institute's Insurance Collision Report, the NHTSA judged "collision claims cost" based on damage susceptibility. The higher the rating, the more susceptible it was to damage, and the more it tended to cost in auto insurance collision coverage.
The runaway leader in collision loss was the Maserati Granturismo, costing 326 percent more than the average vehicle. Other costly collision loss vehicles included the BMW M3 convertible, BMW M5 class and Mercedes-Benz CL class.
Vehicles with collision costs less than the average vehicle tended to be station wagons and minivans, such as the Subaru Outback, the Dodge Grand Caravan and Kia Sedona.
According to the NHTSA, while some insurance companies use this data to reassess premium prices, the adjustments are usually small. Depending on the collision loss, the rate change is usually no more than 10 percent.
Feedback or questions? Email the editor here.