By June 28, 2007 1 Comments Read More →

Car insurance rates on stolen cars

Reader question:

What kinds of cars are going to get me high car insurance rates on comprehensive coverage?

Alma

Great question, Alma.

It’s well known that there are certain types of cars that car insurance companies don’t like to cover, and because of this dislike they will charge insane rates on premiums in order to cover the cost and likelihood of any claims filed. Some of the reasons that a car may fall into this category are that it’s more dangerous, or a target for thefts. But how do you know if a car is a target for theft? You may think you could tell just by looking at it. Any car that looks expensive or fast probably fits, you think. But it’s not as easy as that. It’s a good thing to know which cars are included in this so that, when you go car shopping, you can choose a car that you’ll be able to keep and one that will get you a cheaper car insurance premium.

CCC Information Services incorporated provides technology in the field of claims and repairs for automobiles, and it releases regular reports on things such as the most stolen cars. Its most recent report was a list of the most stolen cars in 2005, and the car coming in at the top of this list fits the profile expected: the 2001 BMW Roadster. The report gets its numbers from all of the cars registered, and then determines what rank an automobile gets based on the rate at which it gets stolen as compared to other registered vehicles. The rate of theft is gotten from information provided by insurers, comparing the number of cars reported stolen to the vehicles registered. This method allows for a more accurate number than just reporting the number of thefts per model.

Sports cars aren’t necessarily the most stolen. SUVs often top the lists, and the Hummer is popular among car thieves as well. The top ten stolen cars, according to the CCC, are:

1. 2001 BMW M Roadster
2. 1998 Acura Integra
3. 2004 Mercury Marauder
4. 1999 Acura Integra
5. 1995 Acura Integra
6. 2002 Audi S4
7. 1996 Acura Integra
8. 1997 Acura Integra
9. 2001 Acura Integra
10. 2000 Jaguar XJR

Cheers,

Fashun Guadarrama.

Posted in: Auto Insurance

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  • Julie

    I have read that the most expensive theft claims in cars are Cadillac Escalade, Chevrolet Corvette Convertible and Lincoln Navigator.