Three Types Of Cars That May See Increased Auto Insurance Premiums
The fact is that the cars that nobody wants to drive come with the lowest auto insurance premiums. The highest auto insurance quote will be attached to the cars we all want to drive. Here are some of the ways they attach value to cars.
The auto insurance industry considers and analyzes many different factors to arrive at the proper auto insurance premiums for the very wide variety of cars on the road today. An auto insurance quote for your car may vary from company to company, but the range will be relatively small. It is when you need coverage for a vehicle that falls into the special category of high insurance cost vehicles that the difference becomes significant. There are three types of cars that cost a lot more than others to insure. The high auto insurance quote that you will get for one of these vehicles is not only based on the specific characteristics of the car itself, but also on the composite profile of the people who generally buy it.
Auto insurance premiums are attached to what the companies call risk. Risk is the likelihood that the carrier will have to pay a claim and how much that claim will probably be. It can include many things like how often that specific vehicle is stolen based on crime statistics from across the country, the average cost of repairs if the vehicle should be involved in an accident and the actual purchase price or current value of the vehicle. The last is important if the car is stolen or totaled in an accident.
Sports cars in general are the most expensive to insure. As a rule, they have larger engines with higher horsepower which increases the potential for being involved in an accident. In addition they often have high price tags and are attractive to thieves. Porsche makes a couple of models at the top of this list but there are many others like the Dodge Viper and of course the Corvette.
Cars at the top of the price scale will generate a higher auto insurance quote. The more expensive Mercedes Benz, Audi and BMW models top the list but any car with a comparable sticker price will be in the same average range of auto insurance premiums.
Vehicles that are most attractive to car thieves are also more costly to insure. These include the Cadillac Escalade, Infinity G-37, several of the high powered sports car models among others.
You can bring down your auto insurance quote by purchasing the right car. Keep your auto insurance premiums low by avoiding vehicles that automatically come with a very high cost to insure.