American culture assigns the car we drive as a part of our personality. It defines our values, our style and, to a certain extent, our eccentricities. It’s why Corvette owners make friendly gestures to one another and why everyone wants to take a closer look at the Hummer driver. The car we drive determines how much car insurance we pay. Many car-broke owners don’t realize that their insurance costs are an additional expense to their monthly car loan payments. Do you own one of the most expensive vehicles to insure?
Factors that Determine Car Insurance Rates
A few factors can affect how much insurance costs. These include gender, age and driving record. Common sense would suggest that insurance is more expensive for cars with higher prices. However, this is not always true. Insurance rates vary greatly from one model to the next. It will usually cost less to insure a car that performs well in crash tests and is not stolen often. It will be more expensive to insure if your car is less flashy, appealing to thieves, or doesn’t perform well in crash tests.
Ten Things You Should Avoid When Buying Insurance
1 Aston Martin DB9
2 Bentley Continental
Dodge Viper 3
4 Porsche 911
5 Chevrolet Corvette
6 Porsche Cayman
7 BMW X5
8 Cadillac Escalade
9 Land Rover Range Rover
10 BMW 128I
Ten of the most affordable ways to insure
1 Mercury Grand Marquis
2 Buick Lacrosse
3 Toyota Avalon
4 Kia Sportage
5 Chevrolet Equinox
6 Ford Escape
7 Kia Optima
8 Subaru Tribeca
9 Buick Lucerne
10 Ford Ranger
We carefully analyzed the rate data of every 2009-model vehicle owner who visited our website to get an auto insurance quote. After comparing tens to thousands of quotes, our average rate was determined for each make/model. We then sorted the results by price. To qualify, each make and model must have received at least 50 quotes.
What is the fastest you’ve ever taken it?
Insurance companies cannot deny that high-performance vehicles have more horsepower than General Washington’s Army. They can assume that you will drive them and take greater risks. Even for an innocuous fender bender, it can cost you a lot to return your vehicle to its original condition if you are involved in an accident.
Larger Is Safer But Does More Damage
SUVs, large trucks and other road warriors may be safer than smaller cars in an accident, but they can cause more damage than standard cars in an accident, which means they have a higher liability rate. There are still many SUVs with safety flaws, especially in the form of rollover tests. These additional risks are passed onto drivers by insurance companies in the form higher premiums.
Car Insurance Companies Love Family Cars
Insurance premiums for cars that are referred to as “family cars”, tend to be lower. These cars include minivans and family sedans as well as station wagons. Because they are more likely to be used to transport families, cars that are used to transport them are less likely to cause an accident.
No matter what list you’re on: Don’t over-pay for car insurance
Insurance companies are experts in different types and levels of financial risk. This is evident in their insurance rates. Your insurance company may offer you a great rate on your homeowners policy, but they won’t offer the same deal for your Jeep Wrangler. Keep in mind that the rates of different policies can vary by hundreds of thousands depending on which company you choose.