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Insurance Costs
Posted by Mike Remsha (more from Mike Remsha) on Mon, 29 Nov 1999 22:50:09
In Reply to: , Kok Chen, Sat, 17 Dec 1988 12:00:00 

A few weeks ago I sent an email to SAAB USA questioning insurance costs and
crash test results.  Following are my questions and the SAAB response.

Question: How does the Saab 9-5 rate in 'tested' safety results;  crash
test results.  My current and past insurance companies always tell me my
auto insurance is so high because Saab's are so expensive to repair.  I
keep thinking, 'but they are safe'.  Now I keep seeing Volvo Federal Crash
Test results being very good, insurance companies rate Volvos very highly,
but I don't see Saab even mentioned.  What is going on?  Why isn't Saab 'up
there' with the 'safe cars'?

Answer:  Thanks for visiting the Saab Cars USA, Inc. Website. First, about
2/3 of car insurance premium is based on the individual - age, gender,
location, driving record, others in the family driving the car, etc. About
1/3 is based on the car itself.   In the U.S., all the major insurance
companies and rating services, will not rate a car on its features, etc.
They all rate the car on its MSRP [manufacturer's suggested retail price]
only (assuming that an expensive car is expensive to fix and vice versa).
This goes for Saab, Volvo, Chevrolet, Lexus, etc.    After 2-3 years when
sufficient loss data is available, the rate is then adjusted up or down
based on this actual experience.  In all cases, the ratings are being
adjusted down - in other words the cost to the insurance companies for
injury, collision and theft is significantly less than the money collected
at an MSRP premium level. This is very good for Saab owners.

With regard to safety, Saab is doing very well in crash tests.   The Saab
9-5 scored the highest ever for any vehicle in the EuroNCAP test series -
better than Volvos.   The Saab 9-5 has not been tested in the U.S. NCAP
because of funding restrictions at NHTSA.   The Saab 9-5 has done well in
IIHS tests that will be released next year.   Recent Highway Loss Data
Institute (an insurance company funded group like IIHS) data for model
years 1996-98 shows that for all midsize cars, the Saab 900 Convertible has
the lowest injury claim frequency and the Saab 900 is 3rd.   This is better
than the Volvo S70, 960/S90, and V70.   Saab's 'real life' philosophy is
that what happens out on the road and not in the lab is what really counts.
Hope this information proves useful. Thanks for contacting Saab Cars USA,
Inc.

The Saab Internet Team
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Posts in this Thread:
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