Insure.com Reveals Top 10 Least Expensive, Most Expensive Cars & Trucks to Insure
03-23-06, 10:02 AM
#1
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Thread Starter
Insure.com Reveals Top 10 Least Expensive, Most Expensive Cars & Trucks to Insure
How to Select a New Car Wisely ... and 'Drive' Down Your Insurance Costs at the Same Time
DARIEN, IL - March 23, 2006: Insure.com, a wholly-owned subsidiary of Quotesmith.com, Inc., has released its second annual report revealing the Top 10 Least Expensive Autos to Insure for 2006, along with its companion report -- The Top 10 Most Expensive Autos To Insure.
Following is a specific breakout of the top 20 Most/Least Expensive Vehicles to Insure for 2006:
Culled from a list of the 20 best-selling cars and small trucks in the U.S., Insure.com determined that the three least expensive autos to insure -- encompassing both 2005 and 2006 model years -- consisted of the Chrysler Town & Country Mini-Van, Chevrolet Cobalt and Dodge Caravan.
At the other end of the spectrum, the three most expensive autos to insure are the Ford F-Series Pickup, Dodge Ram Pickup and Ford Explorer sports utility vehicle (SUV). Individuals can view the complete articles online at www.insure.com.
Steve Dwyer, editor of Insure.com, remarked, "To avoid nasty surprises and a hard hit to one's pocketbook, we advise new car buyers to take the time to find out the insurance cost of a new car before you buy. Car insurance premiums have risen more than 27 percent since 2000 to almost $900 per car per year. On top of that, car insurance premiums can and do vary wildly depending upon such factors as the car's sticker price, the cost to repair it and its overall safety record. The #1 cost of owning a new car is depreciation, the #2 cost is fuel and the #3 cost is insurance."
The Insure.com report is geared to help facilitate the car-buying experience for individuals who are in the market for a new or pre-driven automobile. The Most Expensive/Least Expensive Autos to Insure series strives to steer people in the right direction for smart car buying, enlightening them to an oft-overlooked aspect of the process. That is, the average individual fails to consider the insurance cost implications when they plunk down cash for a new car -- a surprising fact considering that insurance premiums can vary significantly depending on the vehicle selected.
Let's say that an individual has their eye on an SUV, and the 2006 Ford Explorer ranks high on their wish list. They appreciate most everything about the Explorer -- from its style to its handling. However, unbeknownst to them is the fact that Explorer is one of the most expensive vehicles to insure among the top 20 best sellers. Taking this fact into consideration, open- minded car buyers might be inclined to take a harder look at alternate SUVs -- the Jeep Grand Cherokee, for example. That's because the Grand Cherokee happens to be one of the least expensive vehicles to insure on Insure.com's list of 20 top-selling vehicles.
Auto premiums stabilize
The good news for folks who shop for a top-selling vehicle that's positioned on the Most Expensive to Insure list is that auto insurance rates stabilized in 2005, thanks to insurers' ability to reduce loss costs and implement a favorable claims management position. Within this operating climate, many insurers saw fit to pass reduced premiums along to their customers. This had the potential to offset any premium increase that individuals incurred due to an auto they acquired.
David Biewer, vice president of actuarial, for San Francisco-based Esurance, an online direct-to-consumer provider of personal auto insurance, says his company was able to reduce auto insurance rates an average of 2% to 3% in 2005 thanks in large part to Esurance's ability to reduce '05 loss costs about 1%. For auto insurers, loss costs make up a huge proportion of the insurance premium dollar, often topping 80 cents payout per dollar of premium received.
Biewer declares that a significant drop in accident frequency per policyholder was instrumental in enabling Esurance to contain claims costs. A reduction in accident frequency, Biewer theorized, more than likely resulted from a higher percentage of the U.S. workforce that opted to car pool or take public transportation to work -- all in an effort to circumvent high fuel costs. With fewer vehicles on the road, accident frequency was summarily reduced.
Insure.com's Most Expensive/Least Expensive Autos to Insure report was formulated through combined research from several third-party affiliates in both the insurance and automotive industries. Insure.com compared insurance rates based on a 45 year-old single male with no driving violations or convictions, who drives to work less than 3 miles one way. Insure.com used liability limits of $100,000 per person, $300,000 per accident, and $50,000 property damage. Comprehensive and collision premiums were determined using a $250 deductible.
The selection of vehicles was supported by information provided by the automotive industry as reported by Reuters News Service. Using insurance rates provided by Esurance.com, premiums were determined for the 2006 model year of each vehicle in three separate cities: one on the East Coast, one in the Midwest, and one on the West Coast. The premiums from all three geographic locations were then averaged and the vehicles ranked from least to most expensive.
Overall, the Insure.com report appears to be on its way to serving as a wakeup call for consumers to demonstrate a higher level of vigilance in the new-car buying process. But there's still a way to go. Dave Roush, CEO for Solon, Ohio-based Insurance.com, an independent online insurance agency, states that his company has performed extensive study pertaining to the awareness -- or lack thereof -- that individuals have for auto insurance premiums in connection with the vehicles they own or wish to buy.
"We have found that most consumers are not at all cognizant about how much auto insurance premiums differ from one vehicle to another vehicle," explains Roush.
Greg Lindenberg, of Wilmette, Ill. is certainly one of these people. But Lindenberg got lucky. That's because he bought a vehicle on the Least Expensive to Insure list -- without knowing it. "We bought a Dodge Caravan, and did so mainly because our family needed a larger vehicle to accommodate our camping gear. It turned out to be very serendipitous, because as we looked at our mini-van buying options, we were never aware that the Caravan had such a reasonable insurance rate. Obviously, we're very pleased anytime we can save money on our auto premiums!"
source : theautochannel
DARIEN, IL - March 23, 2006: Insure.com, a wholly-owned subsidiary of Quotesmith.com, Inc., has released its second annual report revealing the Top 10 Least Expensive Autos to Insure for 2006, along with its companion report -- The Top 10 Most Expensive Autos To Insure.
Following is a specific breakout of the top 20 Most/Least Expensive Vehicles to Insure for 2006:
Code:
Top 10 Least Expensive Vehicles Top 10 Most Expensive Vehicles
To Insure To Insure
1. Chrysler Town & Country 1. Ford F-Series Pickup
2. Chevrolet Cobalt 2. Dodge Ram Pickup
3. Dodge Caravan 3. Ford Explorer
4. Chevrolet Impala 4. Honda Civic
5. Ford Taurus 5. Chevrolet Silverado-C/K Pickup
6. Ford Econoline 6. Toyota Camry
7. Jeep Grand Cherokee 7. Honda Accord
8. Chevrolet Malibu 8. Chevrolet Trailblazer
9. GMC Sierra Pickup 9. Nissan Altima
10. Toyota Corolla 10. Ford Focus
At the other end of the spectrum, the three most expensive autos to insure are the Ford F-Series Pickup, Dodge Ram Pickup and Ford Explorer sports utility vehicle (SUV). Individuals can view the complete articles online at www.insure.com.
Steve Dwyer, editor of Insure.com, remarked, "To avoid nasty surprises and a hard hit to one's pocketbook, we advise new car buyers to take the time to find out the insurance cost of a new car before you buy. Car insurance premiums have risen more than 27 percent since 2000 to almost $900 per car per year. On top of that, car insurance premiums can and do vary wildly depending upon such factors as the car's sticker price, the cost to repair it and its overall safety record. The #1 cost of owning a new car is depreciation, the #2 cost is fuel and the #3 cost is insurance."
The Insure.com report is geared to help facilitate the car-buying experience for individuals who are in the market for a new or pre-driven automobile. The Most Expensive/Least Expensive Autos to Insure series strives to steer people in the right direction for smart car buying, enlightening them to an oft-overlooked aspect of the process. That is, the average individual fails to consider the insurance cost implications when they plunk down cash for a new car -- a surprising fact considering that insurance premiums can vary significantly depending on the vehicle selected.
Let's say that an individual has their eye on an SUV, and the 2006 Ford Explorer ranks high on their wish list. They appreciate most everything about the Explorer -- from its style to its handling. However, unbeknownst to them is the fact that Explorer is one of the most expensive vehicles to insure among the top 20 best sellers. Taking this fact into consideration, open- minded car buyers might be inclined to take a harder look at alternate SUVs -- the Jeep Grand Cherokee, for example. That's because the Grand Cherokee happens to be one of the least expensive vehicles to insure on Insure.com's list of 20 top-selling vehicles.
Auto premiums stabilize
The good news for folks who shop for a top-selling vehicle that's positioned on the Most Expensive to Insure list is that auto insurance rates stabilized in 2005, thanks to insurers' ability to reduce loss costs and implement a favorable claims management position. Within this operating climate, many insurers saw fit to pass reduced premiums along to their customers. This had the potential to offset any premium increase that individuals incurred due to an auto they acquired.
David Biewer, vice president of actuarial, for San Francisco-based Esurance, an online direct-to-consumer provider of personal auto insurance, says his company was able to reduce auto insurance rates an average of 2% to 3% in 2005 thanks in large part to Esurance's ability to reduce '05 loss costs about 1%. For auto insurers, loss costs make up a huge proportion of the insurance premium dollar, often topping 80 cents payout per dollar of premium received.
Biewer declares that a significant drop in accident frequency per policyholder was instrumental in enabling Esurance to contain claims costs. A reduction in accident frequency, Biewer theorized, more than likely resulted from a higher percentage of the U.S. workforce that opted to car pool or take public transportation to work -- all in an effort to circumvent high fuel costs. With fewer vehicles on the road, accident frequency was summarily reduced.
Insure.com's Most Expensive/Least Expensive Autos to Insure report was formulated through combined research from several third-party affiliates in both the insurance and automotive industries. Insure.com compared insurance rates based on a 45 year-old single male with no driving violations or convictions, who drives to work less than 3 miles one way. Insure.com used liability limits of $100,000 per person, $300,000 per accident, and $50,000 property damage. Comprehensive and collision premiums were determined using a $250 deductible.
The selection of vehicles was supported by information provided by the automotive industry as reported by Reuters News Service. Using insurance rates provided by Esurance.com, premiums were determined for the 2006 model year of each vehicle in three separate cities: one on the East Coast, one in the Midwest, and one on the West Coast. The premiums from all three geographic locations were then averaged and the vehicles ranked from least to most expensive.
Overall, the Insure.com report appears to be on its way to serving as a wakeup call for consumers to demonstrate a higher level of vigilance in the new-car buying process. But there's still a way to go. Dave Roush, CEO for Solon, Ohio-based Insurance.com, an independent online insurance agency, states that his company has performed extensive study pertaining to the awareness -- or lack thereof -- that individuals have for auto insurance premiums in connection with the vehicles they own or wish to buy.
"We have found that most consumers are not at all cognizant about how much auto insurance premiums differ from one vehicle to another vehicle," explains Roush.
Greg Lindenberg, of Wilmette, Ill. is certainly one of these people. But Lindenberg got lucky. That's because he bought a vehicle on the Least Expensive to Insure list -- without knowing it. "We bought a Dodge Caravan, and did so mainly because our family needed a larger vehicle to accommodate our camping gear. It turned out to be very serendipitous, because as we looked at our mini-van buying options, we were never aware that the Caravan had such a reasonable insurance rate. Obviously, we're very pleased anytime we can save money on our auto premiums!"
source : theautochannel
03-23-06, 10:05 AM
#2
Lexus Test Driver
Why are the Camry, Civic, and Accord expensive to insure 
Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
03-23-06, 10:18 AM
#3
Lexus Fanatic
Originally Posted by NYLexSC
Why are the Camry, Civic, and Accord expensive to insure Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
03-23-06, 10:21 AM
#4
Originally Posted by NYLexSC
Why are the Camry, Civic, and Accord expensive to insure Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
03-23-06, 11:22 AM
#6
Top 20
Popular Cars: Most Expensive 2 Insure
Even among everyday cars and trucks, some still cost a lot more to insure than others.
March 23, 2006; Posted: 1:28 p.m. EST (1828 GMT)
NEW YORK (CNNMoney.com) - The Ford F-series pick-up, which consistently ranks as America's most popular vehicle, is also the most expensive to insure among the top 20, according to a report released today by the insurance website Insure.com.
The Chrysler Town & Country minivan is the least expensive to insure of the 20 most popular vehicles, while its corporate twin, the Dodge Caravan, is the third least expensive. The Chevrolet Cobalt small car is the second least expensive to insure, according to the report.
Any individual's actual car insurance premiums can vary greatly depending on factors such as their age, driving record and where they live. But the vehicle itself is a major factor that insurance companies consider to determine premiums.
Insurance is the third largest cost of owning a new car, after depreciation and fuel, according to Insure.com. Insurance premium costs, now averaging almost $900 per year, have risen 27 percent since 2000, according to the report.
Insure.com looked only at the 20 top-selling vehicles in the United States.
In order to rank the vehicles by their relative costs to insure, Insure.com compared rates provided by the website Esurance.com for a 45-year-old single male with no traffic violations who drives less than three miles to work. The amounts of coverage were also the same for each vehicle. Premiums for three different cities, one on the East Coast, one on the West Coast and one in the Midwest, were averaged for each vehicle.
Factors such as popularity with car thieves, how much the vehicle costs to repair after a crash and the amount of damage it does to another vehicle in a crash can influence a vehicles cost to insure, said Loretta Worters, vice president of the Insurance Information Institute.
Options, such as a bigger engine or a high-performance trim level, can make one vehicle cost more than another even if they are the same make and model, said Worters. For example, a Honda Civic Si, the high-performance version of that car, might cost more to insure than the Honda Civic Hybrid.
Some vehicles are also more prone to having parts stolen, such as headlights or spoilers, Worters said.
Before deciding on a car to purchase, Worters recommends that shoppers contact their insurance agent with a list of the vehicles being considered.
Top 20 most popular cars ranked by relative cost to insure
Least expensive vehicle to insure is listed first.
1. Chrysler Town & Country
2. Chevrolet Cobalt
3. Dodge Caravan
4. Chevrolet Impala
5. Ford Taurus
6. Ford Econoline van
7. Jeep Grand Cherokee
8. Chevrolet Malibu
9. GMC Sierra pick-up
10. Toyota Corolla
11. Ford Focus
12. Nissan Altima
13. Chevrolet Trailblazer
14.Honda Accord
15. Toyota Camry
16. Chevrolet Silverado pick-up
17. Honda Civic
18. Ford Explorer
19. Dodge Ram pickup
20. Ford F-series pick-up
Even among everyday cars and trucks, some still cost a lot more to insure than others.
March 23, 2006; Posted: 1:28 p.m. EST (1828 GMT)
NEW YORK (CNNMoney.com) - The Ford F-series pick-up, which consistently ranks as America's most popular vehicle, is also the most expensive to insure among the top 20, according to a report released today by the insurance website Insure.com.
The Chrysler Town & Country minivan is the least expensive to insure of the 20 most popular vehicles, while its corporate twin, the Dodge Caravan, is the third least expensive. The Chevrolet Cobalt small car is the second least expensive to insure, according to the report.
Any individual's actual car insurance premiums can vary greatly depending on factors such as their age, driving record and where they live. But the vehicle itself is a major factor that insurance companies consider to determine premiums.
Insurance is the third largest cost of owning a new car, after depreciation and fuel, according to Insure.com. Insurance premium costs, now averaging almost $900 per year, have risen 27 percent since 2000, according to the report.
Insure.com looked only at the 20 top-selling vehicles in the United States.
In order to rank the vehicles by their relative costs to insure, Insure.com compared rates provided by the website Esurance.com for a 45-year-old single male with no traffic violations who drives less than three miles to work. The amounts of coverage were also the same for each vehicle. Premiums for three different cities, one on the East Coast, one on the West Coast and one in the Midwest, were averaged for each vehicle.
Factors such as popularity with car thieves, how much the vehicle costs to repair after a crash and the amount of damage it does to another vehicle in a crash can influence a vehicles cost to insure, said Loretta Worters, vice president of the Insurance Information Institute.
Options, such as a bigger engine or a high-performance trim level, can make one vehicle cost more than another even if they are the same make and model, said Worters. For example, a Honda Civic Si, the high-performance version of that car, might cost more to insure than the Honda Civic Hybrid.
Some vehicles are also more prone to having parts stolen, such as headlights or spoilers, Worters said.
Before deciding on a car to purchase, Worters recommends that shoppers contact their insurance agent with a list of the vehicles being considered.
Top 20 most popular cars ranked by relative cost to insure
Least expensive vehicle to insure is listed first.
1. Chrysler Town & Country
2. Chevrolet Cobalt
3. Dodge Caravan
4. Chevrolet Impala
5. Ford Taurus
6. Ford Econoline van
7. Jeep Grand Cherokee
8. Chevrolet Malibu
9. GMC Sierra pick-up
10. Toyota Corolla
11. Ford Focus
12. Nissan Altima
13. Chevrolet Trailblazer
14.Honda Accord
15. Toyota Camry
16. Chevrolet Silverado pick-up
17. Honda Civic
18. Ford Explorer
19. Dodge Ram pickup
20. Ford F-series pick-up
03-23-06, 11:38 AM
#7
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Originally Posted by NYLexSC
Why are the Camry, Civic, and Accord expensive to insure Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?
Safety issues? or is it just because they all sell so well and need insurance, that they simply can because of the demand?Trending Topics
03-23-06, 11:57 AM
#9
Lexus Fanatic
Originally Posted by genearch
Yup.. high theft it is
I'm atually surprised/relieved to not see the IS350 on the high list. Owners have complained about what they are being charged there. Hopefully it has settled down.
I'm atually surprised/relieved to not see the IS350 on the high list. Owners have complained about what they are being charged there. Hopefully it has settled down.
03-23-06, 12:43 PM
#10
Lexus Champion
Originally Posted by genearch
Yup.. high theft it is
I'm atually surprised/relieved to not see the IS350 on the high list. Owners have complained about what they are being charged there. Hopefully it has settled down.
I'm atually surprised/relieved to not see the IS350 on the high list. Owners have complained about what they are being charged there. Hopefully it has settled down.
03-23-06, 01:52 PM
#12
Lexus Champion
Originally Posted by 4TehNguyen
prelude i drive now has bad insurance because its costly to fix if damaged, some people who sold their lude and got an S2K actually got cheaper rates than on the prelude
03-23-06, 01:54 PM
#13
Originally Posted by TheRupp
That's not the first time I've heard that. I'm guessing you have a final gen Prelude?
03-23-06, 02:58 PM
#14
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Originally Posted by XeroK00L
Actually, I'm more surprised to see no luxury nameplate at all on the list. Perhaps the study was limited to a price cap.
Otherwise, it makes no sense. Everyone knows that an S-class is a lot more expensive to insure than a Camry.
03-23-06, 03:37 PM
#15
Lexus Fanatic
Originally Posted by jrock65
Everyone knows that an S-class is a lot more expensive to insure than a Camry.
Flip ( flipside909 ) .......are you on the channel? Let's hear some of your opinions.....you write up accident claims for a living.