Vehicle Recalls Unlikely to Affect Auto Insurance Rates

02/12/2010

The ongoing media attention over Toyota's safety recalls has reportedly led to concern among some consumers about whether their auto insurance rates will be affected.

According to a recent ABC News report, that will not be the case. The article notes that people who have accidents in a recalled vehicle will still be covered under their policies just like any other driver. ABC added that insurance companies may actually seek compensation from Toyota if an accident can be traced specifically to the recall, and that this could also result in drivers being paid back some of their deductible.

The report also said it was unlikely that auto insurance rates would go up just because of this recall situation, in part because Toyota vehicles tend to have a good safety record.

Elsewhere, the automotive website Edmunds.com recently noted that customers have been generally satisfied with their Toyota vehicles, as the company currently ranks 17th among automakers when it comes to the number of complaints per vehicle sold.

Recent government statistics have also shown that the number of auto accident-related fatalities has continued to fall in recent years, in part because of fewer miles being driven during the recession.

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