There are a lot of variables that impact your auto insurance premiums. You may be surprised to know that the type of vehicle that you drive could impact your policy.
Searching for auto insurance can be complicated at times. That’s because not only operating a vehicle is quite a high-risk endeavor, but also because there are a lot of coverage options to consider. When researching auto insurance variables, it’s important to look at information regarding the type of vehicle you are driving. All of these variables factor into the amount that you end up paying for auto insurance. Here is a closer look at different factors that impact auto insurance rates.
Your Car’s Features
It is general knowledge that the make and model of your vehicle can impact your auto insurance rate. You may not be aware that driving a high-end sports car can increase your premium compared to driving a basic sedan. Driving luxury cars are somewhat risky because they require special parts and replacements if they are damaged. Acquiring these parts would be difficult, and it’s not always possible to find them within a couple of days.
Also, many auto shops are not equipped to make repairs on luxury vehicles. You may be forced to find a specialty mechanic who knows how to handle the repairs that your vehicle needs. Traditional cars are considered easier to repair on time because the parts are accessible. If the parts are more accessible in the event of an accident, you won’t have to pay as much for coverage.
Key Safety Features
Your car’s safety rating has a direct impact on your auto insurance premium. In addition to having proper airbags and seatbelts, you may qualify for a discount with some providers if your vehicle has a collision warning system, extra cameras, and innovative features like hands-free calling. This helps ensure that you are safe on the road.
Your Vehicle’s Age
If you have an older vehicle, you may have a long waiting period if you are involved in an accident. It’s often quite difficult to find the correct replacement parts. That’s why many people who own vintage cars keep their driving to a minimum. However, it is also important to note that replacing a newer vehicle may be more expensive because they are valuable. If you have a new car, your comprehensive and collision policies may be expensive.
Your Car Size
Research shows that larger vehicles are considered safer than small models. Having a larger vehicle that is proven to prevent accidents may lower your premium. Pay attention to the size of your engine as well. Replacing a large engine can be complicated. Repairing a large engine is also usually expensive, which means your auto insurance premium may rise if you are involved in an accident.
Finding the right auto insurance policy can be tricky and stressful. However, you will have peace of mind if you have researched all of the possible variables. Having a strong understanding of how the type of vehicle you have may impact your premium can help your decision become easier. If you have any questions, contact our team of auto insurance professionals at Massive Insurance to assist you.