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March 21, 2022

Car-on-car crashes not sole source of major car damage: report

The familiar two-car accident may be every driver's worry, but these types of incidents actually make up made up less than half of all accidents, according to research from CarInsurance.com. 

The analysis drew on data submitted by more than 42,000 drivers who provided details on previous incidents as they shopped online for liability, comprehensive and collision policies.

“We buy auto insurance because we envision two cars careening toward each other and screeching brakes,” says Des Toups, CarInsurance.com managing editor. “But more than a third of all incidents involve things like a parked car, the weather, vandalism, hitting animals or road debris.”

The trouble is, each type of accident will likely affect insurance rates differently, he explains. Which means consumer need to get a handle on the factors that affect car insurance premiums the most.

“Hitting a deer and hitting a tree might do the same amount of damage,” Toups explains. “But hitting a tree is more likely to raise your car insurance rates because it’s a collision claim.”

Aside from 'well, it's certainly not my fault!' accidents such as being hit while parked (5%) or suddenly dropping into potholes (2.9%), the top five problems reported among drivers with previous incidents include:

* Struck another car: 22.7%

* Another car struck me: 22.2%                                 

* Single-car accident: 7.9%

* Act of nature: 5.8%

* Struck parked car or tree: 5.4%

By Gordon Powers, MSN Money



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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...