A Smart Tool For Choosing Vehicles & Understanding Insurance Costs

Choosing a new vehicle is exciting, but it can also be overwhelming when you start thinking about the ongoing cost of ownership, especially insurance. At PetleyHare Insurance Brokers, we believe that informed decisions lead to better outcomes, and that’s where How Cars Measure Up from the Insurance Bureau of Canada (IBC) comes in. 

What Is How Cars Measure Up?

How Cars Measure Up is a free online tool created by IBC to help drivers compare how different vehicles “measure up” when it comes to insurance-related costs and risk factors. It’s based on actual insurance claims data from most auto insurers in Canada, not guesswork, making it a reliable resource for shoppers. 

In a nutshell, the tool shows how frequently and how expensively certain makes and models are involved in claims. It ranks vehicles so you can see which ones historically cost more or less to insure. 

How It Works

Here’s how the tool helps you compare vehicles:

  • Search by Make, Model, and Year: Look up specific vehicles you’re considering. 
  • Filter by Body Style & Power Type: Narrow results based on what matters most to you, like sedans vs. SUVs or gas vs. hybrid. 
  • Compare Across Claim Types: You can see statistics for different claim categories:
    • Collision
    • Comprehensive (including theft)
    • Direct Compensation Property Damage
    • Ontario Accident Benefits 
  • View Relative Theft Frequency: Cars that are more often stolen or damaged may cost more to insure. 

IBC includes data for vehicles from 1997 through the latest model year, with results only for models that have a sufficient number of insured vehicles in the dataset. 

Why It Matters for Your Insurance Premium

Insurance companies look at many things when calculating your premium, and the vehicle you drive is a major one. Factors include:

  • Likelihood of collision or theft
  • Cost of repairs or replacement parts
  • Safety features and protective technology

Vehicles that are less likely to be in a claim, or cheaper to fix, often have lower insurance costs. Knowing how a potential vehicle “measures up” helps you choose with confidence and can even lower your insurance bill down the road. 

How to Use It in Your Buying Process

Here are a few tips for using How Cars Measure Up when shopping for your next car:

  1. Run Comparisons Early: Before you head to the dealership or browse online, search the tool to see how vehicles rank.
  2. Balance Features With Insurance Impact: A high-end SUV might have great safety features, but if parts are costly or theft rates are high, your insurance might reflect that. 
  3. Ask Your Broker for Guidance: If you see surprising results or need help interpreting the data, your PetleyHare broker can walk you through the implications for your personal situation.

Final Thoughts

At PetleyHare, we want you to feel confident and informed about every aspect of vehicle ownership, and that includes insurance. Tools like How Cars Measure Up are valuable resources for smart shopping and budgeting. Whether you’re buying new or used, understanding how a vehicle stacks up from an insurance perspective can make a meaningful difference in what you pay. 

Ready to explore what this tool says about the vehicle you’re interested in? Start with it for your next car search, and of course, reach out to us for a personalized auto insurance quote that fits your needs.

Tags: ,