There are many factors involved in the final price we're charged with
by the insurance company for having our cars insured. Things like place
of residence, age, sex and even credit rating all have their weight in
the amount of money we have to pay for insurance. But it would be
strange if the car we're trying to insure didn't have an effect on rates
as well. Each car make and model is analyzed according to a broad set
of parameters and classified by insurance providers in different risk
groups. In many cases the risk rating can differ from one car model to
another even if their price and features are similar. However, there are
also general tendencies for broader car groups to be more or less
likely to get cheap auto insurance. And it's very useful to know of
these traits and take them into account before you purchase a car,
rather than trying to neglect the effects after the purchase. So that's
where different car types stand according to their insurance classification:
Small cars
Small cars have become very popular fairly recently due to the
increasing traffic intensity in cities. A small car is very convenient
from many points of view, since it has a very good gas mileage and is
easy to park or store in a crowded place. However, getting cheap auto
insurance with a small city car isn't as simple as it may look because
they aren't very safe in case of an accident. Due to the small size and
mass such cars tend to take a lot of damage and respectively cause
serious injuries to the people inside of it. That's why it's common to
get average or above the average rates for such cars.
Medium sized cars and family vehicles
Average sedans, wagons, hatchbacks and minivans - the type of cars
you mostly see on the road - usually represent the optimal balance of
safety, performance and insurance risk. They are large and safe enough
to protect people from serious injuries and are often owned by people
who statistically file less claims, which means that getting cheap car
insurance is more likely namely with this type of cars. However, keep in
mind that the risk rating can vary significantly from model to model,
and there are many cars of this type that are as expensive to insure as a
luxury vehicle.
Large SUVs, trucks and vans
Large cars are usually very comfortable, stable and safe because of
their large mass. So it would be natural to assume that they are
affordable in terms of insurance. But that's not so. Large cars, while
being safe for the people inside it, usually deliver a lot of damage to
cars and infrastructure in case of collision, so the liability costs are
higher with SUVs, trucks and vans. That's why you'll have to shop
around a lot to find cheap auto insurance for such a vehicle.
Performance and sports vehicles
Muscle and sports cars are all about power and speed, and are usually
purchased by people who are determined to use this power. Needless to
say, insurers aren't very fond of such cars because they receive too
many claims associated with them. That's why if you love driving really
fast or having an excess of horse power under the hood, make sure you
have the money to insure your beast as it will definitely cost you a lot
of money.
Luxury cars
Most people assume that expensive vehicles are expensive to insure as
well. However, there are factors influencing the cost of insurance
other than the price. High-class vehicles usually have advanced safety
features and are driven carefully, so they don't end up in too many
accidents. On the other hand, the repair costs associated with such
vehicles are usually high. So getting cheap auto insurance isn't all
that hard with a luxury car depending on the model. But is it really
that necessary when you can afford a $100k+ auto?
Classics and collectibles
Classic and retro vehicles have become rather popular lately with
numerous enthusiasts and auto clubs restoring vehicles that are
sometimes 70-100 years old. Needless to say, such vehicles fall into a
category of their own, because they are no longer produced and have a
significant collectible value, which is hard to assess through standard
methods. That's why such cars usually require specialized or even
individual policies that typically come at a fairly high price.
