Why Some Cars Cost More to Insure Than Others

You know that your driving record, credit history, age, and other factors affect how much you pay when your car insurance bill comes in – but why do some makes and models cost more to cover? When you’re looking at West Palm Beach used cars, this is one of the factors worth considering so you can purchase a vehicle that fits your budget.

Odyssey to Civic Si

Let’s look at two models from the same manufacturer, Honda: the sensible, family-friendly Odyssey minivan and the sleek, sporty Civic Si. Assuming all things are equal – safety features, reliability, warranties, etc. – why does the Odyssey make the list of cheapest cars to insure while the Civic lands on the most expensive list?

The Civic Si is a small, zippy car. While you may drive it responsibly, it is capable of zooming in and out of traffic in ways your insurance company finds too risky! And it comes in two-door options, which are always more expensive to cover. Following stereotypes, and demographic data, they assign less risk to the Odyssey, typically driven by parents with kids onboard.

What other factors do insurers look at?

Risk of theft. Some cars are more attractive to thieves. The National Insurance Crime Bureau issues a “Hot Wheels” report of the top 10 most-stolen vehicles in the US. Hondas rank high (not to pick on Hondas – they’re terrific! Thieves agree, unfortunately). Since theft results in a claim, your insurer will likely demand a higher premium.

Value

The worth of your vehicle matters. If anything happens, your insurer has to compensate you.

Cost of repairs

If your car costs more to repair, it will also likely cost more to insure.

Safety

The presence of safety features in modern cars will drive your insurance costs down. From airbags to anti-collision systems, the safer you are, the less you’ll pay!

The average cost of car insurance in Florida is just under $1100. The factors we mentioned will bring it up or down, but the best way to offset this cost is to get the best deal from the get-go. Stop by Palm Beach Auto Sales Outlet for the car you want – and a price you can afford going forward.