A new report released by one of the leading safety research firms in the U.S. revealed just how much extra money car owners have to pay for if they drive the wrong vehicles. According to the Highway Loss Data Institute or HLDI, Americans may be shelling out for more expensive insurance premiums because of the car models they drive. Industry experts contend that providers usually place emphasis on the safety records of the vehicles policyholders own and operate. As such, insurers often rely on independent and industry-sponsored researches and studies to find out which car models are more costly to repair or replace.
Car models that do not achieve expectations are usually more costly to insure. The HLDI conducted the study, which included vehicle makes and models from 2005 to 2007. The research firm has a unique rating system, with 100 the average rating for all vehicles. A higher rating means higher insurance costs for the car owner. According to researchers the Subaru Impreza WRX beat other cars for the title of most costly to insure after extensive studies suggested that motorists who drive the WRX are more likely to get into accidents. Analysts point out that drivers may have to suffer high premiums because of the carelessness of other WRX owners.
Experts also add that the WRX, along with other high performance vehicles like the Scion tC, are often involved in more car crashes and are notoriously more expensive to insure than other cars. Kim Hazelbaker of the HDLI noted that these particular car models often figured in more accidents than any other vehicles and cost more to repair, hence their weak performance in the study.
On the other side of the spectrum, several minivans stood out as costing significantly less to insure. For instance, out of the top 10 car models, three are family-oriented minivans like the Honda Odyssey, Buick Terrazza, and Chrysler’s Town and Country. Experts surmise that because most of these car types are driven by mothers in their mid-30s and 40s, they get into fewer accidents. Analysts also say that even if these minivans get involved in accidents, most of the damage sustained cost considerably less to repair.
One particular car model surprised researchers. The Porsche 911 Turbo and 911 Coupe garnered high scores on the personal injury claims rating. This means that owners of these certain sports cars file for less injury claims than other policyholders, catapulting the iconic car model into the safety spotlight.