Collision Loss Experience Affects Your Auto Insurance Rates

The National Highway Traffic Safety Administration (NHTSA) provides consumers with a booklet that "compares differences in insurance costs for different makes and models of passenger cars, utility vehicles, light trucks, and vans on the basis of damage susceptibility for the vehicle.' This information is usually distributed through car dealerships when consumers are purchasing a new vehicle. The information is provided to give the buyer an idea of how their new vehicle may affect their auto insurance rates. The 2008 booklet does not measure overall safety features of a car. It simply collects data on how often owners of a certain car file collision claims in comparison to the average driver.

Facts from the 2008 NHTSA Report

• Midsize station wagon owners filed collision loss claims 19 percent less than the average driver.
• Midsize sports model owners filed collision loss claims 43 percent more often than the average driver.
• Small sport utility owners filed collision loss claims 20 percent less than the average driver.
• Small four-door model owners filed collision loss claims 24 percent more often than the average driver

Sports utility vehicles have increased safety features and this may reflect the surprisingly low rate of collision loss claims for most SUV's on the NHTSA report. To see the full statistics visit the NHTSA website.

Collision loss experience is just a small component of information that your auto insurer may consider when determining your rates. The majority of your auto insurance rate is determined by your actions. For instance how many tickets you have, accidents, and credit score are also important indicators that your auto insurance provider will use to determine your premium. To find the lowest price for your situation, comparison shopping is essential. There can literally be hundreds of dollars difference between two companies with the exact same policy. To get multiple auto insurance quotes, you can use InsuranceBureau's online form and let auto insurance companies compete for your business. You can receive multiple quotes from independent insurers within a short period of time, all with minimal effort.

Sources

1. Comparison of Differences In Insurance Costs For Passenger Cars, Station Wagons/Passenger Vans, Pickups, And Utility Vehicles On The Basis Of Damage Susceptibility. (2008) Retrieved April 18, 2008, from http://www.nhtsa.dot.gov/staticfiles/DOT/NHTSA/Vehicle%20Safety/Articles/Associated%20Files/2008_Insurance_Costs_Comparison.pdf