It is said that the car we drive is the reflection of our personality. The car one drives can show the person our aesthetic sense, and eccentricities. It is also seen that people with the same genre of cars have a lot in common. It is not only the drive and the aesthetic appeal, but the car one drives also determines how much we pay for car insurance.
Some of the most expensive cars to insure include:
Mercedes SLK Class, Audi S4, Lexus IS 300, Land Rover Discovery Series II, Jaguar K-Type, Toyota 4Runner, Lexus GS 430, Land Rover Freelander, Mitsubishi Montero, BMW X5, etc.
A number of factors that determine how much a person pays for insurance, including gender, age, driving record, location of residence, annual driving mileage, credit scores, and most importantly, the car we drive.
Reason 1 – More horsepower, More Speed, More Risks
If you drive a high performance vehicle with more horsepower, insurance companies have no other choice but to assume that you will use it and perform faster and riskier driving, and hence you become more prone to accidents.
Reason 2 – The Bigger they are, the harder they fall!
SUVs, large trucks, and other mammoth road dwellers might be safer than compact cars in accidents, since they tend to inflict more damage than most standard cars and they also create a liability on causing more damage to others on the road. There are still many SUVs that have inherent safety flaws in their design, specifically with rollover tests. Accordingly, insurance companies share these additional financial risks onto the driver in the form of higher premiums, which is why you now realize why it cost more to insure a Land rover, than an Audi AS coupe.
Reason 3 – Insurance Companies Love Family Cars
“Family cars” tend to have lower insurance premiums. These types of cars include minivans, family sedans, and station wagons. Cars that are used primarily to transport a family are generally involved in fewer accidents, due to safer driving habits associated with those who transport family members.
Make sure before you pay for Car Insurance
Just because your insurance company affords you a wonderful rate on your homeowners’ insurance policy, doesn’t mean they’ll offer you the same deal to insure your car. Insurance companies specialize in different types of financial risk and demonstrate this best in their insurance rates. Remember, the same policy can differ by hundreds of dollars from company to company, not to mention that rates are always changing. Regardless of what company you have insured from, you can always get quotes to identify potential savings from a new insurance company, or any previously unrecognized discounts from company you currently insured with.
You might also like
 |
 |
 |
 |
 |
