subject: Wanting to know why SUVs are cheaper to insure? [print this page] Wanting to know why SUVs are cheaper to insure?
As you almost certainly know, a number of factors are used by insurers in order to calculate insurance premiums. Unquestionably , the model and make of your car plays a huge role. And that makes sense. It would not be good if all automobiles require the same amount of insurance cover.
Its common sense to assume that fast and exotic cars are more expensive to insure. Bigger engines generate more hp and as far as your insurance company is concerned, this means higher rates.
However, does this really mean that larger vehicles are always more costly to insure than small ones? The answer, believe it or not, is NO. Statistically, SUVs are less expensive to insure than many cars. You're most likely asking yourself why?
Effectively, there are 2 main reasons, both related to the kind of drivers who commonly own such cars. SUVs are commonly family vehicles. Its only natural for mothers and fathers who are driving their children to school or football practice to be extra careful on the road. They tend not to drive during the night or in bad weather conditions. What this implies, not surprisingly, is that SUVs have better "accident history" than various other vehicles. Its much more likely that a young motorist will cause a crash with a small and less powerful car, than a mother driving an SUV on her way to the shopping center.
Insurance carriers pay a great deal of attention to these stats. If a certain model and make has a good accident history, than its drivers will benefit from cheaper insurance premiums.
A further reason why SUVs cost less to insure is safety. Almost all family vehicles are loaded with safety features, which is certainly one of their main selling points.
A good arguing point here is that SUVs are not really the most environmentally friendly vehicles out there. It will not be a total shock if in the near future insurance companies start giving discounted rates to "greener" vehicles. For the time being, having a SUV means that you have an even better chance of finding affordable auto insurance.
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