LOS ANGELES, CA, Mar 26 (MARKET WIRE) -- The cheapest car to buy doesn't necessarily come with the c...

1. Auto Club Analysis Shows Most & Least Expensive Vehicles
to Insure in Southern California | Reuters
LOS ANGELES, CA, Mar 26 (MARKET WIRE) --
The cheapest car to buy doesn't necessarily come
with the cheapest insurance
rate,
according to a new analysis by the Automobile Club
of Southern California
comparing car prices with estimated insurance premiums from its insurance
affiliate.
The analysis, conducted by the Auto Club's Automotive Research Center, lists
the
ten least expensive and ten most expensive http://ow.ly/LFFCX new cars to insure with an MSRP of
under $50,000 as well as SUVs, pickup trucks and minivans. The least expensive
car
to insure was the 2007 Toyota Scion xD, which lists http://ow.ly/LFFF2 for $14,000 and has a total
premium of $1,104. The most expensive vehicle is the 2007 Chevrolet Corvette,
listing at $44,170 and insuring for $2,039.
Vehicle premiums are determined by collision costs, component replacement
costs and
how often certain vehicles are involved http://bit.ly/1yw4C5c in crashes. Generally speaking,
sportier
vehicles are driven more quickly than pickup trucks or sedans, so they are
more expensive to insure. Bigger vehicles do better in crashes, so their

2. collision costs are less. However, they tend to do more damage to the other
vehicle, which results in higher liability premiums.
However, in each category, the analysis also showed that cheapest may not
always be best from an insurance perspective. For example, the 2008 Kia Rio,
which sells for an MSRP of $10,770, has a total premium of $1,348. The Rio was
the least expensive vehicle in the Auto Club analysis but it cost more to
insure than many other more expensive vehicles, including the Toyota Scion xD
($14,000 MSRP/$1,263 premium), Chrysler PT Cruiser ($14,940/$1,265), or Dodge
Magnum V6 ($23,420/$1,346). Analysts said that the Rio did poorly in federal
and insurance industry crash tests.
Not unexpectedly, power and excitement come with a price. The 2007 Ford
Mustang GT convertible sells for 30 percent less than the sporty Acura RL
Technology, but costs 16 percent more, or an additional $323, to insure. Also,
add-ons such as sound systems, fancier paint, trim and wheels, add on to the
price of insurance. For example, the Chevrolet Silverado C1500 insures for
about $1,300 while its fancier cousin, the Silverado C1500 LTZ, insures for
about $1,800.
"Our analysis shows that the least expensive vehicle isn't always the
leastexpensive to insure, and that two similar models can have vastly different
insurance premiums when optional features are added," said Steve Mazor, manager
of the Automotive Research Center. "New car buyers should remember to research
how much the car of their dreams will cost to insure before they buy it."
Least Most
--------------------------------
Automobile Toyota Scion xD ($1,263) Chevy Corvette ($2,343)
(Under $50,000 MSRP)

3. Pickup Truck GMC Canyon SLE ($1,235) Cadillac Escalade EXT 4X4 ($1,770)
SUV Jeep Compass Sport ($1,234) Range Rover Westminster ($2,388)
Tie Jeep Patriot Sport ($1,234)
Minivan Dodge Caravan ($1,220) Honda Odyssey Touring ($1,602)
For a complete list, visit
http://news.aaa-calif.com/pr/aaa/Insurance-Chart-0308.aspx.
Each vehicle was given the same driver characteristics:
-- Single male with 24 years of driving experience (approx. 40 years old)
-- Clean driving record - Good Driver Discount
-- Drives 15,000 miles annually
-- Live in Huntington Beach
Premiums include the following coverage:
-- Bodily injury -- $100,000 per person/$300,000 per occurrence
-- Property damage -- $50,000
-- Medical -- $2,000
-- Collision -- $500 deductible
-- Comprehensive -- $500 deductible
-- Uninsured Motorist -- $30,000 property damage/$60,000 medical
-- Uninsured Damage Waiver
The Automobile Club of http://ow.ly/LFG3x Southern California, the largest member of the
AAAfederation of motor clubs, has been serving members since 1900. Today, the
Auto Club's members benefit by roadside assistance, insurance products and
services, travel agency, financial products, automotive pricing and buying
programs, automotive testing and analysis, trip planning services and highway
and transportation safety programs. Information about these products and
services is available on the Auto Club's Web site at www.AAA.com.

4. CONTACT:
Jeffrey Spring
(714) 885-2333
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http://www.reuters.com/article/2008/03/26/idUS68389+26-Mar-2008+MW20080326