In auto insurance, the car you drive matters. It’s one of the factors that determine your auto insurance premium. With sport utility vehicles being a roomier, upgraded, costlier version of your average cars, expect that they would also cost more to insure. Beyond that, the cost of insuring them involves a process similar to that of standard cars.
The SUV you will insure
Interestingly, there is an ongoing debate on whether SUVs are cars or not. While there’s no agreed conventional definition on them, they are described as light trucks for family use. Some authorities classify them as either a truck or a car. To muddle things up, there are crossovers that combine the structure of a car and features of an SUV.
Why it’s important to know if your drive is an SUV? Its cost is a big variable in calculating the insurance, weighed against the risk of it (i) being stolen, (ii) damaging other vehicles or passengers, and (iii) being damaged and thus repaired.
Things like engine size, safety features and the SUV’s being safe to drive in also affect your insurance costing. While SUVs earned their safety record, which could lower the premiums, insurers also consider the damage they could inflict toward other vehicles and passengers.
Other factors to ensure
Other than the type of vehicle being insured and its unique circumstances to be considered, the cost of an auto policy boils down to things that could lower or heighten its risk of being a liability.
There’s the driver’s record to begin with. If you have a sterling record of no traffic violations, no serious road accidents, no DUI offense, you’d be paying less in auto insurance premiums. Starting out with an empty driving record though can add risk and thus a higher premium could be quoted.
While there’s no established correlation between age and gender and driving record, more mature drivers are known to be less accident-prone than their younger counterparts. In the same way that women drivers also figure in fewer road accidents compared to males. Still, drivers who are separately female and older than 25 pay lower monthly insurance payments.
It also matters to the insurers how you plan to use the vehicle. If you use it on a daily basis to commute to work and other business trips, there’s a higher risk that you’d be involved in accidents.
Remember the chances of the vehicle being stolen? The insurer will have to examine where it’s parked to see how safe or dangerous the place is. The state where you live in may require medical costs, repair costs to be added when you insure your vehicle.
In fact, states have their own minimum liability coverage they require drivers to carry. From there, you can supplement your insurance coverage, which is advisable to boost your liability protection.