Insurance companies - I do not understand them

[goddessfarmer]

I bought a new truck, and traded in a 2 year-old one. My insurance company send me a check (it's very small, but hey, money) because it apparently costs less to insure this new chevy than my still relatively new dodge. And it's only liability. How the hell they figure I'm less likely to hit someone in this truck vs the other one?

Comments

[deguspice.livejournal.com]

When I bought my previous truck, I noticed that the dealership had a printout of pages and pages of insurance stats of how much the insurance companies paid out for accidents involving a particular vehicle compared to an average vehicle.

http://www.iihs.org/research/hldi/composite_cls.aspx?y=2006-2008&cls=6
(the most recent stats for pickup trucks)

And then there's the question of how much it typically costs to repair a vehicle if it gets into an accident. Someone has done a study of what it costs to replace the front of a vehicle after a low speed collision. The price varied significantly, even with in a segment (i.e. small SUV).

[goddessfarmer.livejournal.com]

again, only insured for Liability, so repair costs to my truck not an issue.

[deguspice.livejournal.com]

That's one of the categories they have stats for.

ALL COVERAGES
Collision
Property damage liability
Comprehensive
Personal injury protection
Medical payment
Bodily injury liability