Insurance costs for PiP

But poster hanshinji here was talking in terms of premiums, which differ based on other factors, such as those I mentioned. The only way really to compare rates on different vehicles is for the same driver, with everything else staying the same, which is what some other posters were doing.

 

I hope you realize I was pulling your leg, in all seriousness, it would seem to me that a vehicle like this would have a reasonably low premium. Having said that maybe the insurance companies are factoring earlier issues with the Prius and maybe assuming this car ups the potential for unknown electronic disasters. I would assume the PIP would have a low incidence of theft.

 

If you can rent it at an airport, it’s probably cheap to insure.

But pricing is more complicated than that. The vehicle-specific portion of your rates actually hinges on its “loss history,” meaning how many claims are filed on that model and how expensive those claims are to pay. The $18,000, 180-horsepower Scion TC and the $50,000, 425-horsepower Chevrolet Corvettes cost the same to insure. One is driven by teenagers, the other by middle-aged men.

One of these groups makes many more claims than the other. Guess which.

Insurers look at how often your car is stolen, how often it’s wrecked, and how often people are injured in those wrecks. Many rely on a ratings number from the Insurance Services Office. The higher the number, the higher the premium. Sadly, those ratings aren’t public.

Auto insurance for your specific model