You have heard perhaps that the car iteslf has the most profound impact on our auto insurance quotes. The same amount of coverage can cost you different money simply because of owning a different car. Insurance companies have detailed statistic observations regarding each car make and model and rate all the vehicles according to the risk they pose to the insurer. There are different factors involved in this evaluation such as repair costs, accident rates, theft rates, safety features, overall security and others. And what if your particular car make and model is considered as a high risk vehicle and you’re charged with higher rates?
First of all, let’s see which cars tend to get rated as high risk the most. These would include sports cars, muscle cars, small vehicles, luxury vehicles and collectible cars. Each of these types has specific combination of factors that make it more expensive to insure. For example, sports cars tend to get involved in accidents more often as they provoke risky driving style. Luxury cars are very expensive to insure since they require exclusive repair parts and tend to be stolen more often. Small cheap entry level cars aren’t very safe and tend to lack certain security features, which leads to higher medical costs with such cars. Of course, it all depends on a particular make and model but the overall trend is as described.
Tips to get cheap auto insurance for your high risk car
First, locate a provider that specializes in high risk customers. There are different companies that do so and if you’re lucky to have several of them in your state make sure to shop around to get the best rates possible. Also make sure to consider getting as many discounts as you can. If you have two or more cars in the household its better to buy one policy for all of them in order to get a multiple vehicle discount. If you have health or house insurance with the same provider that offers car insurance you should buy everything from this company can offer you lower auto insurance quotes.