The Automotive Service Association, which offers seven types of insurance for its members, randomly surveyed its membership to collect data on its members' insurance needs.

Respondents indicated that 88 percent own personal life insurance and pay an average annual premium up to $2,500. Life insurance on a business level is owned by 53 percent of automotive service facilities with a similar annual average premium up to $2,500. Interestingly, personal life insurance is most often purchased from a personal insurance agent while business life insurance is purchased from a business insurance agent.

Group disability insurance is owned by 42 percent. Of collision shop owners, 54 percent own group disability insurance. This is slightly greater than the 35 percent of mechanical businesses. Seventy percent purchase group disability insurance from business insurance agents.

Individual disability insurance is carried by 47. The average annual premium ranges from under $1,000 to $2,500 for 77 percent of business owners. Purchasing preference is evenly divided among business and personal insurance agents.

The idea of owning annuities is currently accepted by 30 percent, with the average annual premium ranging greatly, from under $1,000 to $5,000 or higher. Annuities are most often purchased from business insurance agents.

Long-term care insurance is being used by 14 percent of the independent automotive service population with average annual premiums going up to $2,500 for the majority of subscribers.

Stat Corner is written by Denise Caspersen, ASA's research management specialist. She can be reached at (800) 272-7467, ext. 236.

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