The automaker will pay the cost of a year of auto insurance through MetLife for retail buyers in Washington and Oregon through Sept. 6.
What's that worth? For an insurance-friendly single 40-year-old with no violations, perhaps as much as $2,000 or so on a racy Corvette Z06, or as little as $1,000 on the sedate Buick LaCrosse. That's according to the average premium data provided by Insure.com. (Check out the most and least expensive cars to insure.)
But for a busy Seattle family with two teenage boys -- one of whom has a speeding ticket? We ran comparison quotes on a shiny new 2011 Chevrolet Tahoe LTZ. The lowest premium we found was $4,890 a year; the highest was $10,300.
Every insurer calculates rates differently; our comparison did not include MetLife rates but did survey seven national carriers who do business in the state. Premiums in Washington tend to run a bit higher than those in Oregon.
We couldn't find any restrictions in the fine print that would eliminate high-risk drivers, and MetLife says any driver who qualifies to buy the car automatically qualifies for the insurance. Customers are free to decline the policy, but the price of the car would be unaffected, GM says.
Limits under the policy are fairly generous as well -- well above the legal minimum requirements for each state, and MetLife doesn't deduct for depreciation if a new car is totaled in the first year.
Chris Perry, vice president of General Motors marketing, was one of the forces behind Hyundai's wildly successful lose-your-job, return-your-car program.
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