Car Insurance Research Organization Releases Loss Data

Chart printout with penThe Highway Loss Data Institute (HLDI) has released its most recent annual report surveying insurance losses for hundreds of models of passenger vehicles. Statistics included in the report show how 2007-2009 models’ average insurance losses stacked up when compared to the average losses for all autos.

The 2007-2009 models of the Chevrolet Corvette convertible came out on top, with losses for all types of coverage for the model coming in at 47 percent below that of the average car. At the other end of the spectrum was the Mitsubishi Lancer, which had losses that were 63 percent above the average.

Readers viewing the report on the HLDI’s site can easily look at trends for individual coverage types — bodily injury and property damage liability, collision, comprehensive, personal injury, medical payments — or for all coverage types.

Results were based on loss data from the first sales of the vehicles up through May 2010.

Although the results may not be exact indicators of how much it will cost to insure these models — coverage providers will generally rely on their own loss-experience data to determine premiums — they could be useful in a general assessment of what to expect when it comes to claim size.

Consumers in the market for a new car may also want to run different vehicle-type scenarios based on the data through an online generator of free auto insurance quotes to see if the premium differences between vehicle types could be significant.

Readers can access the report through the Insurance Institute for Highway Safety’s website.

About Ben Zitney
Benjamin Zitney has been covering the auto insurance industry for the past 2.5 years. Before coming to Online Auto Insurance News, he produced an extensive company history of the 30-year-old California Joint Powers Insurance Authority and worked at the Cal State Long Beach Daily Forty-Niner as a reporter, copy editor and news editor.

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