As you may probably know, several factors are used by insurers in order to determine insurance costs. Unquestionably , the model and make of your car plays a huge role. And that makes sense. It wouldn't be reasonable if all vehicles require the same amount of insurance cover. |
Its common-sense to expect that fast and exotic vehicles are more expensive to insure. Larger engines produce more hp and as far as your insurance provider is concerned, this would mean higher rates.
Nonetheless, does this really mean that larger vehicles are generally costlier to insure than small ones? The answer, believe it or not, is NO. Statistically, SUVs are less expensive to insure than the majority of cars. You are almost certainly asking yourself why?
Effectively, there are 2 main reasons, both relevant to the type of road users who generally own such vehicles. SUVs are normally family vehicles. It is just natural for moms and dads who are driving their children to school or basketball practice to be extra careful on the road. They usually do not drive during the night or in poor weather conditions. What this means, obviously, is that SUVs have better "accident history" than various other vehicles. Its much more likely that a young motorist will cause a crash with a small and less powerful car, than a mom driving an SUV on her way to the shopping center.
Insurance providers pay a great deal of attention to these statistics. If a particular model and make has a good accident history, than its drivers will reap the benefits of lower insurance costs.
A further reason why SUVs are less expensive to insure is basic safety. Almost all family vehicles are packed with safety features, which is certainly one of their main selling points.
A solid arguing point here is that SUVs are not exactly the most environmentally friendly vehicles out there. It will not be a total surprise if in the very near future insurance companies start offering discounted rates to "greener" vehicles. For now, having a SUV suggests that you have a better chance of finding affordable car insurance.
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