Online Auto Insurance: Hybrid-Vehicle Study May Have Pricing Implications
A new study from the Highway Loss Data Institute indicates hybrid vehicles' first-party medical claims may be lower than their counterparts'
(EMAILWIRE.COM, November 21, 2011 ) Los Angeles, CA -- A new study indicating that hybrid vehicles are 25 percent more likely than their gas-only counterparts to protect drivers from injury in a crash could mean owners of dual-use vehicles are saving on more than just fuel, according to Online Auto Insurance (OAI).
Because insurers are known to give price breaks for features and vehicle types that keep occupants safe and claim sizes low, having a car with a track record of lower medical damages resulting from accidents could get hybrid owners lower quotes when they run auto insurance comparisons for certain types of first-party coverages.
According to the recently released study by the Highway Loss Data Institute (HLDI), battery packs and associated equipment that help power dual-use cars and trucks also make them about 10 percent heavier than standard vehicles.
And safety officials have known for many years that vehicles of greater size and weight tend to provide more protection for occupants than smaller vehicles.
Source: http://www-nrd.nhtsa.dot.gov/Pubs/808569.PDF
HLDI’s study compared hybrids made by manufacturers ranging from Cadillac to Toyota with their conventional counterparts and estimated the likelihood of being injured in a crash based on insurance claims filed by occupants of those vehicles.
Researchers say the heftier hybrids fared better in accidents because they tend to push smaller, lighter vehicles out of the way, thus lessening crash impact on hybrid drivers and passengers.
The study does not mean hybrid vehicle owners are guaranteed lower premiums any time soon, in part because insurers typically adjust their rates in accordance with internal claims data rather than the results of outside research.
But vehicles with histories of protecting occupants and having below-average injury and damage claims costs could be considered a lesser risk to insure under certain types of policies, so insurers may set lower premiums as a result.
According to the study, not only can consumers lessen their environmental footprint—and their pain at the pump—by buying a hybrid, but they apparently can also decrease their risk of injury and maybe even save a few bucks on premiums.
The other side to having higher vehicle weight, however, is that more damage may be done to other cars. So data for liability claims may actually show a negative trend. The HLDI study did not investigate these types of claims.
OAI advises consumers to compare safety features and performance along with price and other factors when shopping for a vehicle and to ask coverage providers about all available discounts.
To learn more about this and other safety and insurance issues, readers can go to http://www.onlineautoinsurance.com/compare/ where they will find informative resource pages and a helpful rate-comparison generator.
About Online Auto Insurance:
Online Auto Insurance provides news about the coverage industry, reviews on some of the country's most prominent insurers and rate-comparison services that give consumers a full view of their pricing and carrier options.
Because insurers are known to give price breaks for features and vehicle types that keep occupants safe and claim sizes low, having a car with a track record of lower medical damages resulting from accidents could get hybrid owners lower quotes when they run auto insurance comparisons for certain types of first-party coverages.
According to the recently released study by the Highway Loss Data Institute (HLDI), battery packs and associated equipment that help power dual-use cars and trucks also make them about 10 percent heavier than standard vehicles.
And safety officials have known for many years that vehicles of greater size and weight tend to provide more protection for occupants than smaller vehicles.
Source: http://www-nrd.nhtsa.dot.gov/Pubs/808569.PDF
HLDI’s study compared hybrids made by manufacturers ranging from Cadillac to Toyota with their conventional counterparts and estimated the likelihood of being injured in a crash based on insurance claims filed by occupants of those vehicles.
Researchers say the heftier hybrids fared better in accidents because they tend to push smaller, lighter vehicles out of the way, thus lessening crash impact on hybrid drivers and passengers.
The study does not mean hybrid vehicle owners are guaranteed lower premiums any time soon, in part because insurers typically adjust their rates in accordance with internal claims data rather than the results of outside research.
But vehicles with histories of protecting occupants and having below-average injury and damage claims costs could be considered a lesser risk to insure under certain types of policies, so insurers may set lower premiums as a result.
According to the study, not only can consumers lessen their environmental footprint—and their pain at the pump—by buying a hybrid, but they apparently can also decrease their risk of injury and maybe even save a few bucks on premiums.
The other side to having higher vehicle weight, however, is that more damage may be done to other cars. So data for liability claims may actually show a negative trend. The HLDI study did not investigate these types of claims.
OAI advises consumers to compare safety features and performance along with price and other factors when shopping for a vehicle and to ask coverage providers about all available discounts.
To learn more about this and other safety and insurance issues, readers can go to http://www.onlineautoinsurance.com/compare/ where they will find informative resource pages and a helpful rate-comparison generator.
About Online Auto Insurance:
Online Auto Insurance provides news about the coverage industry, reviews on some of the country's most prominent insurers and rate-comparison services that give consumers a full view of their pricing and carrier options.
Contact Information:
Online Auto Insurance, LLC
Gregor McGavin
Tel: 909-784-2475
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
Online Auto Insurance, LLC
Gregor McGavin
Tel: 909-784-2475
Email us
This is a press release. Press release distribution and press release services by EmailWire.Com: http://www.emailwire.com/us-press-release-distribution.php.
|
Private Equity, Angel Investing
Equity Alliance / Private Equity, Angel Investing, / IPO, Venture Capital & IR services / Equity Alliance International Equityallianceir.com Penny Stocks to Watch Sign up for hot penny stock picks Gains of 500%+ possible! Premiumstockpicks.com/landing/ Satellite TV for PC Watch Streaming Tv Right on Your PC Satellitetelevisionforpc.com Your text Ads & PR Text Ads plus unlimited press releases, One release featured/Day for only $575 per month. Read more on Text Ads & PR Your text Ads Here! Text Ads are only $289 per month. Ads are placed same day. More on Text Ads Advertising |