State Farm Rates Mixed on Jeep Brand
Date 1999/12/1 0:00:00 | Topic: Miscellaneous
State Farm has released their results of where car insurance rates are headed in the year 2000 based on the make and model of vehicle - this year the results for the Jeep line are mixed. The 2000 Jeep Grand Cherokee will be charged lower-than-standard collision and comprehensive premiums, the 2000 Jeep Cherokee will be charge standard rates, and the Jeep Wrangler will be charged higher-than-standard rates.
One hundred thirty-five models of year 2000 vehicles have qualified for lower-than-standard auto insurance rates from State Farm because they generate lower-than-average claim payments for damage and theft.
One hundred nine 2000 models will be charged above-standard rates because their damage and theft claim payments are higher-than-average.
The other 79 year 2000 models will be charged standard rates. Standard rates for all models are based on the manufacturer's suggested retail price of the vehicle.
Under a rating plan on file with insurance departments in most states, State Farm uses its actual claim payments for vehicle damage and theft on similar models for prior years to determine which 2000 models will qualify for lower- or higher-than-standard premiums for collision and comprehensive coverages.
The complete article can be found here.