How Does Your Vehicle Affect Your Car Insurance?

Car insurance can feel complicated sometimes, from what it covers to why we end up paying what we do. That’s why we’re here to break down at least one of these great car insurance unknowns: exactly how what type of car you drive affects what you pay for car insurance. Keep reading to see what details about your car are considered when getting a quote from your insurance company.

How fancy is your car?

Many people already know that the make and model of their car affect their insurance rate. For instance, if you drive a fancy foreign sports car, your rate will likely be higher than your sedan-owning neighbor. Why? Foreign parts are more difficult to acquire and fewer auto shops can perform the repairs you may need. Cars like your neighbor’s sedan are easier to repair and their parts are much more readily available, which means they’ll be paying less for their plan.

Your car’s birthday is important.

If you’re in an accident, the cost of repairs will probably be expensive regardless of what year your car was made. But the cost of replacing a newer, more expensive car is much higher than replacing an older one that has lost value, so your collision coverage rates for a new car will be higher—as will your premium.

How safe is your car?

Your car’s safety rating can factor into how much you’ll pay for car insurance (depending on your provider). Most insurance carriers only rate on basic safety features like airbags and seatbelts. 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, but the truth is most carriers don’t take these features into account. We’re a little different at Elephant—we’ll actually give you a discount on your rate for having them.

Bigger is (sometimes) better.

While we’re on the subject of safety, did you know that larger vehicles are typically considered safer? It may seem counterintuitive, but if you have a large car with a pretty good safety rating, your premium will likely be lower than if you had a smaller car with the same (or similar) safety rating. But again, there’s a catch: the size of your car’s engine could also affect your rate.

Lots of things can affect how much you pay for car insurance each month, but what type of vehicle you drive is one of the big ones. When in doubt, affordable cars with good safety ratings will almost always mean a better rate for your insurance. For more information about how your vehicle can affect your insurance, reach out to us on our online chat feature!