Why would the type of car I drive have anything to do with how much it costs to insure me?

Good question! Insurance companies will often look at statistical data as to which types of cars get into the most accidents and will charge you higher or lower rates accordingly.

Do repair costs factor into this?

Yes! If a car generally costs more to repair than other vehicles then insurance companies will take that into account when insuring you, because of collision coverage. Collision coverage is insurance that covers damages to you and the other party if you’re at fault in the case of an accident.

What if I don’t get into accidents?

Yes, obviously this won’t higher your insurance. But more importantly, make sure that the type of car you’re driving doesn’t get into accidents often either. If you’re driving a sports-car, chances are it’ll be expensive to insure because people with sports-cars are generally known to not be the *safest* drivers. It is what it is.

Tech + Safety = Cheap Insurance

The cars that are generally better and cheaper to insure are the cars with the most safety features. This is because it shows insurance companies that safety is a priority to the driver of the vehicle, making the assumption that the safer the driver, the less accidents they’ll get into. Safety features like radar, pre collision breaks, and OnStar are generally features insurance companies will trust you more with and cut you some slack on insurance costs.

There are also a bunch of miscellaneous factors that go into determining an insurance price. People who drive certain cars are statistically more likely to get into accidents with their cars, so a lot of the time insurance companies will, quite literally, judge a book by its cover.

Cars to avoid leasing because of expensive insurance:

  • Mitsubishi Lancer
  • Cadillac Escalade
  • Mercedes C class
  • Hyundai Genesis
  • Porsche Panamera
  • Dodge Charger
  • BMW X5
  • Mitsubishi Eclipse

Cars to lease because of inexpensive insurance:

  • Jeep Wrangler Sport
  • Jeep Compass Sport
  • Honda Odyssey
  • Ford Escape
  • Honda CR-V
  • Toyota 4-Runner
  • Subaru Outback

Basically…

Insurance companies are essentially trying to guess what kind of driver you are based on the car you’re driving. Therefore, if you’re driving a bigger sedan or a minivan, insurance companies will assume you’re a family-oriented person who needs the space for more people and will therefore assume that you’d be a safe driver because of that. Contrastingly, if you’re driving a convertible or a sports-car, insurance companies will assume you’re the type of person who likes to drive fast and the safety priority becomes questionable.

It all depends on what you’re communicating to your insurance company by driving the car you’re driving and what kind of category it puts you under. Whether it’s accurate is irrelevant.

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