How Does Your Vehicle Affect Your Car Insurance?

Are you happy with the price you pay for your car insurance coverage? Do you even know why you pay what you do? You probably already know that not everyone pays the same price for car insurance. That’s why it is best to shop around and find the right Florida car insurance company for you, not necessarily the one your mom or best friends has. Many factors go into the price you pay, including your driving record and how much coverage you elect. Someone with a poor driving record is going to pay more for their coverage, no matter which insurance carrier they choose. Just the same, if you want an expensive car totally covered in the event of an accident, you’ll pay more each much for your policy.

While many people know these factors, few people know that the actual car you drive affects how much you pay as well. A few of the ways this happens has to do with:

Your car’s value

The make and model of your car affects the insurance rate for covering it. If you drive a foreign luxury sports car, your rate will be higher than someone who drives a sensible sedan. This is because imported parts are more difficult to acquire and fewer auto shops can perform the repairs you may need. An American-made sedan is easier to repair and their parts are much more readily available. Plus, covering your foreign luxury car after a total loss is going to cost your insurance company a lot! 

How old your car is

As stated above, the cost of replacing a new and expensive car is going to be much higher than replacing an older one that has lost value. For this reason, both your collision coverage rates and your premium for a new car will be higher. An older car won’t cost much to pay for if it is totaled.

What safety features your car has

Many times, a car’s safety rating factors into how much a driver pays for insurance coverage. Extra safety features like collision warning systems, backup cameras, and hands-free calling systems can help keep you and other drivers safe on the road and avoid an accident all together. Less accidents means the insurance company pays out less often, and they’ll drop your price for this reason.

Your car’s size

Did you know that larger vehicles are typically considered safer? If you drive a large car with a good safety rating, your premium will likely be lower than if you had a smaller car with the same or similar safety rating. Insurance carriers have done the research and know that drivers who have larger vehicles are less likely to zoom around, cut people off, pull out into traffic, and do other driving maneuvers that cause accidents. As well, family oriented drivers are more likely to drive large vehicles and those drivers tend to be safer than younger drivers in small coupes. 

Hopefully, this helps you better understand how the car you drive will affect the insurance rate you pay. Nearly always, affordable four-door cars with good safety ratings will almost always mean a better insurance rate. Car insurance can feel complicated sometimes, even from a great company like Pronto Insurance. What do you want your insurance to cover and what do you want to pay each month? Reach out to a team member and we’ll break down exactly how we can work out a policy for you.