While buying a car, consumers hardly think that what will be the rate of interest for the car they are buying. The type of car a consumer is buying, actually decides whether you have to pay a high or a low premium. It is necessary to know the rates of insurance for different cars before you invest, as this will help you to maintain a reasonably priced, pocket friendly insurance policy.
The Highway Loss Data Institute (HLDI) is a non-profit organization. This organization calculates the value of insurance for a particular brand of car so as to decide which vehicles are at high risk. High risk indicates cars that are most likely to be stolen, damaged due to the result of a collision, and have a high number of injury claims filed. The factors which come into consideration while deciding upon the probability of theft include the number of doors of the car and even its color.
It has been found out by the HLDI that cars which are having four doors have much lesser chances of being stolen than cars of the same make and model having two doors! As a result the insurance claims for cars having four doors are far lesser than two door cars. There is another organization, the National Insurance Crime Bureau (NICB), which claims that "cars that have the least claims filed for theft include the Buick LeSabre, Volvo V70 Station Wagon, and the Mercury Grand Marquis."
Again, according to the Highway Loss Data Institute, the cars that have the least insurance claims include large vehicles like SUV’s and pickup trucks. Some of the other cars that found to have less expensive insurance are Volvo S40 4dr Sedan,Chrysler PT Cruiser 4dr Wagon, Saturn L300 1 4dr Sedan,Saab 38600 Linear 2.3t 4dr Sport Wagon Jeep Liberty Sport 4WD 4dr SUV,GMC Safari SLE AWD 3dr Minivan, Pontiac Sun fire 2dr Coupe, Buick Century Special Edition 4dr Sedan, Dodge Caravan SE 4dr Minivan, Saturn ION 1 4dr Sedan. Again if we go with the survey conducted by HLDI then we will find that the vehicles like GMC Safari 4-wheel drive, Ford Excursion 2-wheel drive, GMC Yukon XL 1500 4-wheel drive and GMC 2500 are some of the cars which get the least amount of insurance claims for collision purpose.There are some of the vehicle models which have been found to have claimed least amount of injury claims. Some of these are GMC Sierra 2500 2-wheel and 4 wheel drives, GMC Yukon XL 1500 4-wheel and Chevrolet Silverado.
If you thoroughly go through these surveys and follow the trend of insurance companies you would find that the insurance companies always go through and keep in mind, the car''s model, its safety record, rate of theft of the specific car and its make, to determine the premium amount. So if you know all the above statistics properly, then it would be easier for you to choose the best car for yourself and also the best insurance rate for your car.
This post is by Sachin. He loves to write posts on auto, insurance, finance, business, etc. He has also written for many reputed brands such as Protect your bubble.