Recent research shows significant auto insurance rates disparity between manufacturers.
A recent automobile.com survey has shown that there is a significant difference between the auto insurance premiums being paid by owners of Chevrolet vehicles and those who own Toyotas.
It indicated that Toyota owners pay nearly 10 percent more in their rates than owners of similar models form Chevrolet.
The company guessed that it may have something to do with the rate of thefts that is leading to the discrepancy. They performed a comparison of the survey with the theft data results and discovered that certain models of Toyota vehicles have a greater chance of being stolen than their Chevrolet counterparts. That said, while they believe this could be a contributing factor, they are in no way saying that this is the only reason that the difference exists.
While the Toyota vehicles were found to have more expensive auto insurance rates, the automobile manufacturer has also been making news recently as it was named the top automaker in the world earlier in May 2012. The preliminary sales reports from 2012 showed that Toyota did better than General Motors (the company that makes Chevrolet products).
The website stated that this will be only the first of many such comparison studies.
Further examination of various different elements of this type of coverage and what effects the prices will be performed within the coming months. A representative stated that they feel certain that this will help consumers to better inform themselves so that they can make the right choices for their policies.
There are certain strategies that have been recommended for consumers in order to help them to cut costs based on the perceived reason that they are paying more in the first place. These help drivers with more the vehicles that are more expensive to insure to reduce their premiums.
For instance, in the case of drivers of Toyota vehicles, it may be beneficial to install some form of good quality theft deterrent device, such as a monitoring and alarm service, or to upgrade the equipment that was put in place by the manufacturer. This may help to overcome the perception that the vehicle is easier to steal, and may help to lower the cost of auto insurance.