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
Why It Costs More to Insure
High-performance engines and built-for-speed features mean a higher chance of an accident and expensive parts to repair or replace
High-price vehicles are expensive to replace after an accident
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
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...
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...
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