Last week, the Insurance Institute for Highway Safety and the Highway Loss Data Institute released a report on Insurance Loss for vehicles built between 2007-2009. Surprising just about everybody but us, it turns out Corvette owners average the lowest insurance losses.
To get the vehicle ranking, the six major insurance categories were combined (collision, property damage, liability, comprehensive, personal injury, medical payments, bodily injury liability) to determine which vehicles ranked high or low against the average scale of 100.
Overall, the Corvette convertible’s score was 53 for all coverages while the Corvette Coupe was ranked third lowest at 67. The Mazda MX-5 Miata Convertible was second with a score of 63 based on all coverages.
Corvette owners do tend to be slighter older (we prefer the term ‘more experienced’) drivers, but we believe the major take-away from this report is that Corvette owners care about their cars and therefore are more engaged with the driving experience then other car owners. Take into effect that many Corvettes are only driven during good weather and for leisure, we see why the Corvettes ranked well in this report.
This then begs the question: Is your insurance company treating you and your Corvette accordingly based these industry findings?
To see the individual reports, visit the IIHS website.