New Smart cars are no longer sold in the United States, but if you purchased a used model of one of these subcompact, environmentally-friendly vehicles, you still need a car insurance policy. Although these vehicles are unique, Smart car insurance is similar to car insurance for other makes.
Owners of Smart cars still need to purchase at least their state’s minimum car insurance limits and may also want to consider optional coverages and endorsements to build a robust policy. Bankrate’s research on car insurance for Smart cars may help you select the best options.
Smart cars insurance
Each state, except New Hampshire, requires that you have certain insurance coverage in order to be able to drive legally. Your lender may require you to have both collision and comprehensive coverage if you are leasing your vehicle or taking out a loan. These coverages are recommended for Smart car insurance. They will be tailored to your financial protection requirements.
- Bodily injury liability: This coverage pays for the medical costs of the people in the other car if you are at fault in an accident.
- Property damage liability: This coverage pays to repair or replace the other driver’s car or personal belongings damaged in an accident you cause.
- Collision: This coverage is for repairing or replacing your car in an accident, no matter who is at fault. You are likely to need collision coverage if you have a loan, lease, or other financial obligation.
- Comprehensive: Also called “other-than-collision, this covers damage to your car from non-accident related causes, including storm damage, theft, vandalism and hitting an animal. Comprehensive is required when you have a loan, lease or other financial obligation.
- Underinsured/uninsured motorist: If you are hit by a driver who does not have insurance or does not have enough insurance to pay for your damages, these coverages could step in to pay for your medical bills and property damage.
- Personal injury protection (PIP): This covers medical expenses for you and your passengers, as well as other qualifying expenses. PIP is required in no-fault states, but is not available in all states.
- Medical payments coverage: Similar to PIP coverage, medical payments coverage is designed to pay for your medical expenses and those of your passengers, regardless of fault. It is not available for all states.
Insurers may also offer additional types of insurance, such as gap coverage, which will help to pay off the remainder of your car loan if your Smart car is totaled, and roadside assistance coverage, which could pay for common roadside problems, such as a flat tire or empty gas tank.
Insurance experts advise that you buy more liability coverage than the minimum state limits. Your liability limits will provide you with more financial protection in the event of an accident. A licensed agent can help you decide the best level of coverage and what options are most beneficial for your situation.
What is the cost of smart car insurance?
Is it expensive to insure Smart cars? It depends on many factors.
The average cost of full coverage car insurance in the U.S. is $1,674 per year, based on a 2019 Toyota Camry. There are many factors that will affect the cost of coverage.
- Your Smart car’s age
- Wherever you live
- You can choose the deductible that you want
- You can choose the maximum coverage levels and types you want
- The company with which you have your policy
- Your driving record
Your credit history, age, and gender will all have an impact on your premium in most states.
Smart cars qualify for insurance discounts
Your individual rating factors will affect the cost of a Smart car insurance policy. Regardless of your base premium, you may be able to lower your premium with discounts. These can vary from one company to the next, but they often include:
- Anti-lock brakes, anti-theft devices
- Automated online payments, early signing and total pay
- Multi-policy discounts when you combine auto insurance with homeowners and renters
- Smart student discounts for young drivers who earn at least a B average or go to college abroad
- Senior discounts
- Safe driving course discount
- Discounts for veterans and members of professional groups
A Smart car can be a great choice for green discounts, as they are both fuel-efficient and environmentally friendly. You might be able to find other ways to save by asking your agent to go over all of the discounts offered by the company.
Questions frequently asked
How much does it cost to insure a Smart vehicle?
Your Smart car insurance price will depend on the individual rating factors. Drivers with accidents and tickets on their records will likely pay more for coverage than drivers with clean records. Additionally, if you have a teen driver on your auto insurance policy, you can expect to pay higher premiums. You might find the best-priced policy by getting quotes from multiple carriers, as each auto insurance company has different rates.
Are Smart cars safe to drive?
Safety of your vehicle depends on many factors, including your driving habits. Smart cars are considered safe. The 2017 Smart Fortwo received a rating of four out of five stars from the National Highway Traffic Safety Administration. There are optional safety features on some Smart cars, such as forward collision warning and rearview cameras.
Are Smart cars worth the investment?
It is your decision to choose the car that you like. Because they are less dependent on fossil fuels than other makes, Smart cars might appeal to those who are looking to reduce their carbon footprint. Some models and years of the vehicle are completely electric. The only problem is that new Smart cars cannot be sold in the United States. This means you will have fewer options than with other vehicles.
What are the maintenance expenses for a Smart car
Even the most reliable cars need maintenance from time to time, and Smart cars are no exception. The work required for your Smart car will determine the cost of maintenance. However, because these vehicles are not common in the U.S., finding an authorized dealer and service center might be difficult. There may not be a Smart car service center nearby depending on where you live.
