Pricier insurance for F-150? - Automotive News
The Insurance Institute for Highway Safety reported this week that, after a crash test, it cost 26 percent more to repair the new aluminum Ford F-150 pickup than it did the truck's steel-bodied predecessor. But that doesn't necessarily mean insurance premiums for the aluminum truck will rise above those for the outgoing steel model. "Rates for the aluminum version of the new F-150 won't change unless enough actual claims data indicates a need for an adjustment," a State Farm Insurance spokeswoman said. In its response to IIHS' report, Ford pointed to stable insurance premiums as a sign that insurers agree with Ford's assertion that repair costs won't increase. The State Farm spokeswoman said the company will determine whether F-150 premiums will change after it has collected "a sufficient amount of claims data" for the 2015 model. An Allstate Insurance Co. spokesman said its premiums for the 2015 F-150 are still in line with those for the year-earlier model as the company awaits more data. IIHS also said that, in addition to the repairs on the 2015 F-150 costing 26 percent more than those on the 2014 model, the aluminum-bodied F-150's repairs also took longer than the steel model's. Ford: No cost increase. Source: www.autonews.com
