WalletHub, Financial Company
@WalletHub
Cars that make insurance go up are usually sports cars, high-end vehicles, and cars with low safety ratings. Insurance companies use many factors to determine insurance premiums, including the car’s potential repair costs and relevant historical trends for the make and model, such as claims and theft rates.
Characteristics of Cars That Make Insurance Go Up
| Feature | Why It Costs More to Insure |
| Sport Models | High-performance engines and built-for-speed features mean a higher chance of an accident and expensive parts to repair or replace |
| High-End/Luxury Models | High-price vehicles are expensive to replace after an accident |
| Upgraded Features | Things like four-wheel drive and bigger engines cost more to repair than their standard versions |
| Poor Safety Rating | Drivers and passengers are more likely to sustain serious injuries in an accident, resulting in more expensive medical claims |
| High Theft Rates | Vehicles statistically more likely to be stolen cause more expensive insurance rates |
Popular Cars with Expensive Annual Premiums
- Lexus LS - $3,308
- BMW X5 - $2,539
- Dodge Challenger - $2,461
- Ford Mustang - $2,450
- BMW 3 Series - $2,435
- Cadillac Escalade - $2,434
- Dodge Charger - $2,423
- Lexus ES - $2,394
- Chrysler 300 - $2,343
- BMW X3 - $2,250
On the other hand, minivans and crossovers tend to be among the cheapest cars to insure.
People also ask
Does car insurance cover theft?
Yes, car insurance covers theft if you have comprehensive coverage, which is optional. Comprehensive auto insurance can help replace your car if it’s stolen or repair damage to your car resulting from break-ins or vandalism.
It is important to note that normal liability car insurance won’t cover theft because it only protects other drivers from bodily injury and property damage resulting from an accident you cause.
What Insurance Covers If Your Car Is Stolen
- ...
Does car color affect insurance rates?
No, car color does not affect insurance rates. Whether your car is yellow, black, silver, or any other color, your car insurance will not be affected as car insurance companies don’t even know the color of the car you’re driving. Insurers know your vehicle identification number (VIN), but the color isn’t included in VIN information. Your vehicle’s make, model, year, body type, engine size, sticker price, average repair costs, overall safety record, and risk of...
read full answerAre older cars cheaper to insure?
Yes, older cars are cheaper to insure than newer cars in most cases because older cars are less valuable, so an insurer won’t have to pay out as much in the event of a total loss. Plus, once an old car falls below a certain value, you may not have to pay for comprehensive and collision insurance anymore.
But a car’s age actually has less of an impact on insurance premiums than its make...
read full answerDid we answer your question?