The cost of auto insurance is based not only on your driving record,
but also the year, make and model of the car you own. If you are
currently looking for a car, or if you are looking to buy a new car
in the future, you should always check with an insurance agent to
see what the cost of insurance will be. There are many factors that
determine if your car will have high auto insurance premiums.
The types of cars that tend to have higher auto insurance premiums
are:
Cars with high-tech accessories - Insurance
companies take these high-tech toys into account when valuing
the replacement cost of your car. Also, some of these
accessories make your car a target for theft.
Sports Cars - Statistically, sports cars
are more dangerous than the standard automobile. Sports-car
drivers also tend to get more tickets than other drivers. Due to
the added risk, your auto insurance company will charge you more
for this type of car.
Expensive/Luxury Vehicles - Generally
speaking, the more a car costs, the more it costs to fix or
replace it. Auto insurance companies realize this, and they
charge luxury-car owners more for insurance.
Vehicles Commonly Stolen - For one reason
or another, certain car makes and models are targeted more often
by car thieves. If you happen to own one of these models, your
auto insurance will cost more due to the higher risk of your car
being stolen.
Extremely Small Vehicles - While your
compact car may get great gas mileage, chances are it will
sustain massive damage if you are in an accident. This means it
will cost your insurance company more. Therefore, your premium
will be higher.
High Performance/High Horsepower Vehicles -
If you buy a car with a high horsepower engine and/or high
performance features, you are, statistically speaking, more
likely to speed and drive dangerously. Once again, this makes
you a greater risk for a car insurance company, and you will pay
more for insurance.
Large SUVs - If you are involved in an
accident while driving a large SUV, you are more likely to cause
serious damage to the other car than if you were driving an
average-sized car. If the accident is your fault, chances are
the resulting damages to the other car will be more costly for
your insurance company.
Knowing what vehicles cost more to insure will help you make wise
decisions when purchasing a new car—and help you secure affordable
car insurance!
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