When you buy a car, you normally get a quote for the insurance to see how much it will cost you to keep the car. But do you know why certain cars, which are similar in all aspects except model, are more expensive to insure than others? Well the Economist provides an interesting graphic looking at car thefts in America and which are most expensive to the insurers. These higher costs are passed directly to consumers in the form of higher premiums for certain cars
It seems that the country’s car thieves are, at least, patriotic. If America’s car making giants have struggled in recent years to build vehicles that match the public taste, they are keeping car thieves happy. Only two of the top ten stolen cars in America (measured in terms of cash paid out by insurers) come from a foreign manufacturer. America’s car criminals are more suspicious of Japanese or European models and are reluctant to be seen in smaller cars (SUV’s make up a large portion of car thefts). A reluctance to nick Toyota Priuses shows they have little regard for the environment either. Volvo also continues it’s impressive safety record, both on the road and off it.
These findings just indicate that while the quality of American cars has improved, the security still lags relative to our European and Japanese counterparts. So next time you go car and insurance shopping, keep this little fact in mind. Click here to compare insurance quotes from multiple providers.
Some good reads I came across this week:
- I Stole $45 from Costco and I Feel Terrible
- 5 Benefits of Working For Yourself (Online Business)
- Beyond the Emergency Fund: Water, Water Everywhere, but Not a Drop to Drink
- Earning More vs. Saving Money
- Why You Should Ignore 99% of Worthless Advice about “Starting a Business”
- Retirement: Are You Relying Too Much On Your Home?
- Investment Strategy For Beginner Investors
- 6 Ways to Invest in Gold
- My 2nd Annual Brown Bag Survey: The 10 Most Economical Sandwiches
- Carnival of Personal Finance