How Your Vehicle’s Make and Model Affects Your Auto Insurance Premium
When it comes to auto insurance, there’s one factor many drivers overlook—the make and model of their vehicle. Whether you’re behind the wheel of a compact sedan, a luxury sports car, or an SUV, your chosen ride significantly influences your insurance premium. But how, exactly, does it work? Let’s break it down.
Why Your Car’s Make and Model Matter to Insurers
Insurance companies calculate premiums based on risk. This involves analyzing how likely your car is to get stolen, how much repairs typically cost, and its safety features. These variables are often tied directly to the make and model.
Insurers want to ensure they’re prepared to cover the cost of an accident or a claim, so if your vehicle is expensive to repair or replace, you could end up paying a higher premium.
Below, we’ll explore some specific factors that insurers consider based on your vehicle choice.
1. Vehicle Type
Your car’s type—whether it’s a sedan, SUV, sports car, or truck—plays a significant role in determining your auto insurance premium.
- Sports Cars generally come with higher premiums because they’re built for speed, making them more likely to be involved in accidents.
- SUVs and family sedans, on the other hand, tend to be less expensive to insure since they’re commonly associated with safer driving behaviors.
- Luxury Cars often have higher premiums because their parts and repairs cost more.
2. Safety Features
Modern vehicles are often equipped with advanced safety features—think lane departure warnings, airbags, and backup cameras. Cars with these features are less likely to be involved in serious accidents, which lowers the risk for insurers.
If your car has updated safety technology, it could reduce your premium. Be sure to highlight these features when shopping for auto insurance.
3. Theft Rates
Some makes and models are more attractive to thieves. Cars like the Honda Civic consistently rank at the top of “most stolen” vehicle lists because their parts are in high demand. Insurers factor in this risk when determining premiums.
On the other hand, vehicles with anti-theft devices or low theft rates may come with reduced insurance costs.
How to Lower Your Premium Regardless of Your Vehicle
While you can’t always control the make and model of your car (some of us love our dream cars!), there are steps you can take to lower your premium.
- Shop around and compare quotes from multiple insurers.
- Consider increasing your deductible if you have a good driving record.
- Take advantage of discounts, such as those for safe driving, bundling policies, or anti-theft features.
Protect Your Ride with Affordable Auto Insurance
Understanding how your vehicle’s make and model impacts your premium empowers you to make more informed decisions when purchasing or upgrading your car. Whether you opt for a sleek sports car or a reliable SUV, make sure you have the right coverage to keep you protected.
Looking for reliable auto insurance that fits your car and budget? Contact Insurance Agency Dayton Ohio today, and we’ll help you hit the road with confidence!
