New Report Lists Worst Cars for Insurance Costs
A recent report released by the Highway Loss Data Institute (HLDI) cites that 2005 – 2007 model-year vehicles are costing drivers more money in auto insurance premiums. According to the research firm, the cars on the list, for a myriad of results can result in much higher insurance rates.
The HLDI used a 100-point average ranking system to determine which cars were deemed worst for auto insurance costs. The higher above 100 the car was ranked, the worse the vehicle was considered in terms of insurance costs.
According to the research firm, there are a number of models viewed as those offering higher insurance cost to owners. The vehicle ranked highest on the list was the Subaru Impreza WRX, which held a ranking of 189. The reason was that extensive studies have shown that drivers of this vehicle are more likely to get into accidents. As a result, all owners suffer higher insurance premiums.
A few other cars ranking high on the list for these model years include:
- Suzuki Forenza (ranked 156)
- Dodge Charger (ranked 150)
- Suzuki Reno (ranked 142)
- Mitsubishi Galante (ranked 139)
Because these cars are in general more expensive to insure, experts recommend that you take precautions on the road to ensure you won’t increase your premiums even more. Also, it’s a good idea to shop around for affordable coverage and look for discounts at every turn.
Since you’re on the hook for higher insurance by default with these models, lowering your premium will likely be a more challenging task for you than others.