Expensive Cars to Insure
There is a lot of variety in the automobile market. Firstly, there is the small car and the hatchback, and then there are family sedans, SUV's or sports utility vehicles and then there are jeeps, vans and even the jazzy sports cars. There are various types and styles of vehicles and naturally, the price also varies a lot. And thus it is only natural that the cost of auto insurance would also vary from one make to another and from one model to the next.
The Three Most Important Factors That Determine The Cost Of Vehicle Insurance
In almost all cases, if you own an automobile that is high in horsepower and one where the parts cost more, will mean that you will have to shell out excess money for insurance. But it all starts with the retail price of the manufacturer. The higher the price, the higher the vehicle insurance. And if for some reason you have to import the parts to USA, then too, the insurance will cost you more. It is assumed that the average repair cost for one single vehicle when two of them collide is $3000. If you own a bigger vehicle, it could mean an increase in insurance because these automobiles often cause a lot of damage to other vehicles.
The other important factor is the type of automobile that you are driving. In almost all the cases, auto insurance costs more, if you own a sports car. That is because insurance companies seem to believe (based on data collected over the years) that these automobiles end up in more accidents because they are driven quite aggressively. And since they are also driven by younger people who tend to be more rash and aggressive, the cost of auto insurance for them also ends up being higher. On the other hand, small cars and family automobiles cost less and they are driven by more sedate people and thus the risk is less, and thus the insurance cost too is less too.
There is a third factor that determines the cost of car insurance. And that is, how attractive it is to the thieves. In other words, the cars that are expensive to insure are almost always those that have been stolen more historically. However it also has to be mentioned here that if the model comes with anti-theft warning and other such systems installed, then the insurance company will surely charge you less.
Here Are Some Automobiles That Cost More In Auto Insurance
The vehicles that will cost you the maximum in auto insurance are as follows…
- Cadillac Escalade EXT 4WD
- Subaru Impreza WRX 4WD
- Hyundai Tiburon
- Mitsubishi Lancer
- Scion tC
- Acura RSX
- Nissan Sentra SE-R
- Suzuki Forenza
- Nissan Sentra & Mitsubishi Eclipse
- Chevrolet two-door Cobalt
But the model and make of the car is not the only factor that determines the insurance cost. A very important factor is the person – his/her driving record, credit history, age and there are other factors as well.