American culture attributes the car we drive into our character – defining our worth, our sense of personality, and to some extent, our eccentricities. It is the reason why that Corvette owners tide to one another, and why everybody feels the need to catch a look to see who’s driving the Hummer. In the exact same manner, the car we drive determines how much we pay for car insurance. Readily an afterthought to the monthly car loan payment, many owners are”car-broke” for their insurance expenses and do not even know it. Are you driving one of the most expensive cars to insure?
Factors That Determine Car Insurance Rates
There are a small number of variables that determine just how much a person pays for insurance, such as gender, age, driving record, location of home, annual driving mileage, credit scores (in many cases ), and most importantly, the car we drive. Although common-sense holds that the costlier a vehicle, the more expensive the insurance, this is not necessarily the case. Insurance rates vary greatly between makes and models. If a vehicle performs well in crash tests, it is not often stolen, and contains additional security or anti-theft apparatus, it will generally cost less to cover it. On the other hand, if your car is flashier, attractive to thieves, also doesn’t wow anyone in the crash tests, it is going to cost more to cover.
Ten Most Expensive to Insure
Two Bentley Continental
3 Dodge Viper
4 Porsche 911
5 Chevrolet Corvette
6 Porsche Cayman
7 BMW X5
8 Cadillac Escalade
9 Land Rover Range Rover
10 BMW 128I
Ten Least Expensive to Insure
1 Mercury Grand Marquis
Two 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
To make each list, we carefully analyzed rate data for every driver with a 2009 model automobile who visited our website for an car insurance policy quote this year. After combing through thousands of quotes, we created an average speed for each make and model and then sorted the results by price. Every make and model must have experienced at least 50 quotation requests to qualify.
What is the Fastest You Have Taken It?
If you drive a high performance car with more horsepower compared to General Washington’s Army, insurance companies don’t have another option but to assume that you will use it and clinic riskier driving. In the event you get into an accident, regardless of fault, the expense of returning your car to its initial condition could be extraordinary–even for a seemingly harmless fender bender.
Larger Is Safer, But Causes More Damage
Even though SUVs, big trucks, vehicles and other large road warriors might be safer than compact cars in accidents, they tend to foster a more expensive liability policy rate given that they inflict more damage than most conventional cars in accidents. Accordingly, insurance businesses share these additional financial risks onto the motorist in the form of higher premiums.
Auto Insurance Companies Love Family Cars
Automobiles that are particularly associated as”family cars” often have lower premiums. These types of cars contain minivans, family sedans, and station wagons. Cars that are used mostly to transport a family are usually involved in fewer accidents, due to safer driving habits connected with individuals who transport relatives.
It Doesn’t Matter Which List You’re On: Don’t Over-Pay for Car Insurance
Insurance businesses specialize in different forms of financial risk and demonstrate this best in their insurance rates. Simply because your insurance company affords you a great rate on your homeowners insurance policy does not mean they will offer you the same deal to insure your Jeep Wrangler.