When looking to buy a car, something big to take into consideration besides safety is the collision claim data. This is information that can give you an idea on of how much it costs to repair your particular vehicle. Collision coverage insures against damage to a driver’s vehicle if they themselves are at-fault. The Highway Loss Data Institute recently came out with a report on insurance losses for 2014-2016 passenger vehicles.
Matt Moore, the senior vice president of the Highway Loss Data Institute says, “Whenever consumers are on the hunt for a new vehicle they should consult two key resources: safety ratings from IIHS and insurance loss results from HLDI. Combined, they give a good picture of a vehicle’s overall safety and insurance costs.”
In this data, crashes that don’t result in injury and aren’t reported to the police are included. Actually, more than half of collision claims for vehicles cost under $3,000,with most in between $1,000-1,999.
According to HLDI, loss information includes both a vehicle’s features and how it is driven. Factors that are controlled by HLDI include driver age, gender, marital status, calendar year, model ear, and the number of registered cars per square mile t the garaging location and state. They are also adjusted for deductibles.
It’s not a surprise that the vehicles with the largest collision losses are mostly luxury vehicles. In the first place spot is the two-door Bentley Continental GT four-wheel drive. Because the average person cannot afford a luxury vehicle, HLDI has results for 2014-16 models that are under $30,000. In that group, the Hyundai Genesis midsize coupe had the highest overall losses.
Collision Insurance Losses Ranked
You can click here to look at collision insurance losses by vehicle class, year and model. Below is the loses for the best and worst vehicles overall, not based on model and class for 2014-16:
Check back for our next blog about the best and worst losses for PIP, bodily injury liability and medical payment insurance coverage.