Claims News Service, Dec. 12, 1:47 p.m. EST -- State Farm Mutual Automobile Insurance Company has established its annual vehicle insurance ratings for specific makes and models of vehicles by using its extensive claim data.
The company uses its claim payment amounts for vehicle damage and theft to create a damage and theft index (DTI). The DTI determines which vehicles qualify for what level of premium for collision and comprehensive coverages. State Farms says that cars that have a low DTI score are typically charged 10-40 percent less than for similar vehicles in their price range.
Five years ago, the company launched a similar program after evaluating the cost of claims involving injury to occupants of the insured vehicle. Depending on that cost, certain makes and models of vehicles qualify for varying levels of vehicle safety discounts. Personal injury protection discounts of up to 40 percent are offered to vehicles that have a history of low payment for injuries, according to the company.
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