Accident Cover For Low Speed Collision : When Damage Happens the Most
If you thought you needed the accident cover only to claim in the event of a major accident, think again? A recent testing shows that the crashing of a small car even at a walking speed can cost the owner over two thirds of the vehicle’s original value in repairs.
The reputed insurance company NRMA insurance conducted a crash test in West Sydney in Newington. The demonstration involved crashing different models of cars at low speed, speed as low as walking pace. And even at that pace the damage done to the cars was significant. The repair cost of a Toyota Yaris involved in this demonstration cost $13,440 to repair the bumpers both rear and front (the vehicle was being driven at a speed of ten kilometers per hour). The Holden Barina cost $2,574 in repairs.
Take the case of the Toyota Yaris, the amount spent in repairs was more than seventy per cent the value of the car. On the same lines is the repairing cost of another small car, the very popular Honda Jazz. The repair cost came to about 69.5 per cent of the vehicle’s value at $13,754. The Holden Barina 5-door with hatchback has an improved bumper design and cost for repairing would come to about 14.3 per cent of the vehicle’s value. The insurance company conducted this research to remind consumers how the choice of car would affect the premium payment on accident cover. Insurance being an extremely competitive market, insurance companies have to provide maximum benefits to their policy holders especially on products like accident cover and it would not be in their interest to charge more premium. Such a research helps the insurance companies to determine if it is economical to get the car repaired after collision depending on the amount of damage the car may have suffered as against purchasing a new car.
NRMA tested 9 small cars that were top selling models in Australia. The highest number of common crashes on the country’s roads occurred due to low speed accidents. The testing was done to review the performance of the bumpers when the vehicle was involved in any collision.
The research revealed that poorly designed bumpers were the cause of greater damage caused to both the vehicles involved in the accident. For example the Barina has an effective bumper design and thus suffered less damage to the structure, most of the damage was caused only to the bumper components.
Most new car manufacturers especially those sourcing from China faced numerous challenges when it came to improving designs as well as repair serviceability. The test by the insurance company brought to fore the problem that no thought was being given as to how the car would be repaired or how the supply of parts would be arranged.
It seems important enough to have bumpers that are effective even on the small cars so that the expensive parts such as radiator and headlights can be adequately protected. Hopefully this test will encourage both consumers and manufacturers to look into this issue as low speed crashes are quite common in Australia and although it may not cause harm to life, it may surely cause a severe dent in the finances especially for those without the accident cover.