Your car's model will of course help influence the cost of your insurance premiums. As such, driving an SUV, a sports car or even just a car which costs a lot of money can lead to higher-than-normal premiums. A lot of people already know this fact about car insurance policies.
What is less known is that most insurance premiums are based on the cost of the vehicle and not necessarily its model. And the reason for this is that the cost of a car also affects the replacement cost in the event that your car is stolen or completely destroyed in an accident.
The cost of a car also provides auto insurance providers with certain statistics in relations to vehicle models. Generally speaking, the lowest injury claims are those coming from large vehicles, usually pick up trucks, SUV's and other similar vehicles. On the other hand, smaller cars with 2 to 4 doors have the highest injury claims. And you may be surprised to learn that small cars are among the highest in terms of collision costs. The only other rival for this top spot are sports cars.
Because of these concerns, insuring a high performance vehicle like a sports car or an SUV can easily cost two to three time the usual amount compared to ordinary models.
You should also take note that the sports utility vehicles or SUVs are the biggest market segment and will typically have higher insurance rates compared to mid and full size cars. However, some SUV models are relatively cheaper to insure than others, so even if you have your heart set on owning an SUV, choosing the correct model can lower the overall cost of car insurance.
However, the issue about SUV's being more expensive to insure than other types of cars does not end there. Other reasons why this car model is a problem for car insurance companies is that it's a prime target for car theft. And it certainly doesn't help that it costs more than most other cars. From a long term point of view, this basically means that SUVs cost more money to fix, especially if the 4 wheel drive sy stem has been damaged.
As serious as these concerns may be, they are largely a general appraisal of the situation. Car insurance companies will still charge different premiums for coverage regardless of the kind of car you're driving. You just need to find one which has fewer problems with regards collision and theft related claims, and you'll have a much easier time with your premiums.
Learn more on how you can get cheap car insurance and better prices from the cheapest car insurance providers without spending too much of your hard earned cash.
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