Most people are aware their insurance rates are calculated using a number of variables, such as the length of time they have been driving, the number of accident they have been involved in, the number of moving violations they have, and the city the vehicle is garaged in. But did you know that the make and model of the vehicle you drive is also a variable of that calculation as well?
It is important to keep that in mind when purchasing a new vehicle. When shopping for a new car, most people check out all the features of the vehicle, such as gas mileage, size, comfort, and of course, the stereo, but most people do not think about how much it will cost to insure the vehicle. That should be a major part of your decision when purchasing the car because the make and model of the vehicle can have a big impact on your insurance rates. It may be worth a quick call to your insurance agent to get a premium before you make the purchase.
There are many reasons the make and model of the vehicle have such an impact on your insurance rates. First of all, some cars cost more to repair after an accident than others. For example, high-dollar luxury cars with aluminum body panels cost more to repair than vehicles with sheet metal body panels. Secondly, some cars are more attractive to thieves than others. Thirdly, cars with high horsepower are often very expensive to insure. When they are involved in an accident, it is likely the speed of the car was factor in causing the accident. Lastly, larger vehicles, such as SUV’s are also very expensive to insure. Because they are larger in size than most vehicles, they can cause more damage when involved in an accident.
Bankrate.com has published a list of the ten most expensive cars to insure in the United States. They are as follows:
Mitsubishi Lancer Evolution Mercedes CL Dodge SRT-4 Subaru Impreza WRX Jaguar XK Lexus IS300 Honda S2000 Acura RSX Nissan 350Z Jaguar XJ
Now you know your rates are not just based on your driving record and the area you live in. It is also based on the make and model of the vehicle you drive. Now you know to consider the price of insurance coverage when shopping for a new car prior to making the purchase. If you are interested in finding out what bankrate.com listed as the ten least expensive cars to insure, you can view the list at http://www.bankrate.com/brm/news/auto/autominiguide/insurance2.asp?caret=15.