Most expensive cars to insure

The following is a list of the most expensive cars to insure when comparing auto insurance rates:

1 Mitsubishi Lancer Evolution
2 Mercedes CL-Class
3 Dodge SRT-4
4 Subaru Impreza WRX
5 Jaguar XK (convertible)
6 Lexus IS 300
7 Honda S2000
8 Acura RSX
9 Nissan 350Z
10 Jaguar XJ
Every one of these cars are high priced and sporty. In my previous posts I have written the reasons why cars are expensive to insure, therefore I will not go over that. Basically if you have the money to sport around in one of the expensive cars listed above you have the cash to insure it.

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Least expensive cars to insure

Cars are cheap to insure when they are large, conservative and not sporty. The following is a list of the top ten least expensive cars to insure.

1 Volvo XC90 - By far the least expensive car to insure, based mostly on crash statistics and safety.
2 Chevrolet Malibu Maxx3 GMC Safari - Large family mini bus, this is safe and a soccer mom car - which it is one of the cheapest cars to insure.
4 Buick LeSabre - Large and conservative.
5 Nissan Pathfinder Armada -2004 Large tank.
6 Pontiac Montana -Family wagon low cost to insure because its a family car.
7 Mazda MPV -Mini van.
8 Ford Thunderbird - Large, safe, driven by low risk divers, therefore not expensive to insure.
9 Pontiac Montana - Mini van.
10 Ford Taurus -wagon - I think this is one of the least expensive cars to insure because its a family car, its favored by family drivers and family drivers drive safe.

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Liberty Mutual insurance buys Safeco insurance

Liberty Mutual insurance company is a very well run insurance company, the management team is top. I believe Liberty Mutual’s objective for buying Safeco insurance is to create value from Safeco’s slack lines. Management at Liberty mutual is solid and I think it will not be hard for them to extract greater value from Safeco then the current management team in place now at Safeco. Safeco’s main weakness was from losses experienced in its auto insurance lines.

Liberty mutual will move from position six to position five in terms of property and causulaty insurance companies. I beleive that insurnace is going through a long term conolidation and similar to banking in the 80s, the insurance industy will find an equilibrium with more effciently run multi state insurance companies.

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What determines how much a car is to insure

Factors such as your demographics (age, gender etc), your location, your driving record are obvious. However, the make and model of your car will determine how much your auto insurance will cost.

The cost to insure your auto is determined by 4 factors:

1. Horse power - the bigger the engine the more chances you will drive fast.
2. Cost of repair - the higher the price tag of the car, the greater liability, therefore greater collision-damage costs.
3. Bigger is sometimes better - statistics show contrary to popular wisdom that small sporty cars outmaneuver accidents, statistics show the converse is true.
4. Boring is better - family cars get a discount when it comes to auto insurance. Why? Simply because these family vehicles, often times boarding between autos and tanks, get in much fewer accidents. When it comes to family driving, families drive safer.

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Biggest Auto Insurance companies

What are the largest auto insurance companies in the USA?
1. State Farm Mutual
2. Allstate Insurance
3. Progressive Casualty
4. National Indemnity
5. Farmers Insurance
6. Nationwide
7. USAAG - United Services Automobile Association Group
8. AIG- American International Group
9. Liberty Mutual
10. American Family Insurance Group

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Auto Insurance joke

An accountant and a businessman were sailing in the Bahamas. The Accountant said, “Your know my friend I am on here in this paradise, because of my auto insurance company…a tree fell on my garage and totalled my three antique cars that were in the garage. All my life went into these priceless cars, however, the car insurance company paid me handsomely.”
Now that is a coincidence,” The businessman exclaimed. “Because I am also here because my families four cars were swept away in a flood and also my car insurance company paid basically for everything and more.”
The accountant pondered the businessman’s words, was silent for a moment and at last said “So let me as you, How does one start a flood?”

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10 trillion dollars for auto insurance

How much do we pay for auto insurance in the USA? Over 10 really 11 trillion dollars. Why so much? Because the US appetite for large SUVs and luxury cars is like a juggernaut that was no sign of ceasing. Look around you and see how many large cars there are. Even with the USA in a recession, its not like a recession in Eastern Europe or the way it use to be in the USA. The US has a cushion of wealth. Therefore, the expensive car market has been growing at a rate of 12 % a year for the last 5 years.

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Why CT and MA have so many insurance companies

The modern insurance arose mostly connected to shipping and trade. In the United states it is not coincidence that the insurance capital is in Harford, CT also with a strong presence in Boston, MA. This is because the English ships bringing trade to the colonies at the time needed a place to be insured against lost at sea. Boston and New England in general where the first stop from England and a go between point for the other colonies. Therefore, insurance was a natural growth from this trade.  It is further no coincidence that CT and MA are among the richest states in the USA, and has a lot to do with the Insurance industry.

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1.3 billion dollar payout for Russian Insurance wife

Although it is not directly an insurance payout, but rather a potential marriage dissolution settlement, it is insurance related none the less. Anna Khachaturova, the wife of Danil Khachaturov who is the head of the Russian Insurance empire Rosgosstrakh wants 50% of his insurance stock. Gosstrakh and its successor Rosgosstrakh was the first and is the biggest of the Russian insurance companies and succeeded in the Russian insurance industry because of brand name recognition. If this settlement is reach it will dwarf western settlements of this nature. Insurance is clearly a profitable business.

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Why auto insurance is higher is you are single

Auto insurance is higher if you are single not because you are a worst driver than your married peers; rather, your auto insurance is higher because statistically you are more likely to commit auto insurance fraud. This seems unfair, but the nature of auto insurance to statistically uncover the realities of a demographic groups. Therefore if an auto insurance group has a significantly higher payout, whatever the cause, then the result is the group as a whole suffers. Married people are less likely to commit fraud because they have a family to think of and are focusing their cognitive energies on legal ways to make money; as their indifference curve connected to risk is more skewed toward legal endeavors. It might also say something about the type of people who get married, although I have no statistics on it I think they are less likely to commit crimes across the board, including auto insurance fraud.

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