LOS ANGELES, May 21, 2012 /PRNewswire/ -- A new survey commissioned by Automobile.com examined the costs associated with insuring Toyota and Chevrolet models. The survey revealed that the average car insurance premium for Toyota vehicles is close to 10% more than rival Chevrolet models.
"After reviewing the data, we determined one possible reason has to do with theft rates," Automobile.com columnist Andrew Evans said. "We contrasted the consumer insurance cost survey results with theft data and found that certain Toyota models are more susceptible to being stolen. While this may not be the singular reason for the cost disparity, we have reason to believe it is a contributing factor."
Although Toyota vehicles were determined to be more costly to insure, the Japanese automaker recently made headlines when it regained the title of world's largest automaker earlier this month. Toyota beat General Motors (which produces Chevrolet vehicles) in preliminary 2012 sales reports.
"This was just the first of many articles we will be releasing that compares and contrasts different aspects of car insurance policies," Evans said. "We are confident consumers will benefit from the information and will be able to make informed decisions concerning their car insurance policies."
In the initial article, Automobile.com provides readers with strategies to cut costs based on the perceived reason for the cost differential. Evans said that this will help lower the cost to insure more expensive makes or models. From the site:
To compensate for the insurance cost disparity, Toyota owners might consider installing reliable theft deterrent devices such as aftermarket alarms and monitoring services or upgrading existing equipment. Many insurance companies offer discounts for vehicles that feature antitheft devices, which could help bridge the insurance premium cost gap for Toyota owners.
Automobile.com recently began offering drivers the ability to compare car insurance quotes for every make and model. The site relies on user surveys to provide an enhanced interactive format uncommon to the insurance industry. Consumers can interact with Automobile.com on Facebook, Twitter, Google Plus and Pinterest. For more information or to learn more about different types of car insurance, visit http://www.automobile.com.
Disclaimer: The data included in this Automobile.com press release is sourced from several public and private institutions in addition to consenting user responses through commissioned surveys. Automobile.com makes no warranty or guarantee of the authenticity, accuracy or permanence of any facts or figures included in the aforementioned press release as it is for informational purposes only. Some facts, figures and metrics are estimations based on observations or conclusions from public and/or private sources.