How Does the Kind of Vehicle Affect Your Auto Insurance?

How Does the Kind of Vehicle Affect Your Auto Insurance

Auto insurance can give you a hard time understanding its working area. That is why today, we will elaborate on one of the unascertained car insurance areas: precisely why the type of vehicle you drive affects the premium you pay. Read on to get more about the insurance company’s quotes and see what aspects of your car takes into consideration.

How Luxurious Is Your Vehicle?

Many policyholders already know that the manufacture and model of their vehicle affect their premium. For example, if you drive an exotic luxury car, your premium is more likely higher than an ordinary car. What are the reasons? It is not easy to acquire imported parts; only a few shops can repair this vehicle type. Cars like your sedan are cheaper to repair, and their parts are much easier to acquire and replace, so they will have to pay less for their plan.

Manufacture Date

If you ever meet an accident, the repair cost will be high regardless of the vehicle’s manufacturing year. However, the cost of replacing a new and expensive vehicle is much higher than replacing any part of the older one, so your collision coverage rates for a new car will be higher as compared to premium.     

Safety Measures Towards the Vehicle

Your car’s safety rating can affect how much you have to pay for your car insurance (depending on your provider). Many insurance providers only evaluate basic safety features, such as airbags and seat belts. Additional safety features like collision warning systems, backup cameras, and advanced Bluetooth calling systems can help you keep the other drivers safe on the road.

Size of Your Vehicle 

Did you know that bigger in size vehicles are usually considered safer when we are talking about safety? This may seem against logic, but if you have a bigger vehicle with a decent safety rating, your premium must be higher than if you had a small car with the same safety rating. Again, there is another important aspect: your engine’s size could also affect your premium.

Many things can influence how much you have to pay in terms of auto insurance, but which type of car is most prominent?. In case of doubt, affordable vehicles with decent safety ratings will always lay upon insurance premiums.