Likewise the big difference are between types of vehicle, so between a midsize sedan and a Crossover SUV, or a compact car and a minivan rather than between makes of similar cars. So if you’re wondering why your auto insurance is expensive, there is likely more to it than just your choice of vehicle.
Actually, the rate could change if even one of the following factors is different:
ZEBRA CAR INSURANCE ESTIMATES DRIVER
According to ValuePenguin, larger SUVs such as the Ford Explorer or the Toyota Highlander are among the most expensive SUVs to insure.Ĭompared to the smaller SUVs with a lower sticker price, getting a policy for these larger SUVs could cost more.Ĭonsidering the range of figures given here that impact the cost of your auto insurance, it’s clear why it is so important to keep in mind that the numbers quoted here are only average for a specific driver type. Larger trucks and SUVs can actually push up the premiums for this part of your coverage. However, when it comes to cars that are more beneficial for your liability insurance premiums, cars like luxury sedans tend to have the advantage. For instance, you can see the impact of this on your specific vehicle using our car insurance calculator tool.Īs well as minivans and trucks, compact SUVs like the Honda CR-V or the Toyota RAV4 tend to have the relatively beneficial impact on your collision insurance premiums. These factors in turn will have different impacts on different types of coverage. Insurers will look at things such as the potential cost to repair, the safety record of the vehicle, the chances it could be stolen, and how much damage it could cause to other people’s property. The car you drive is obviously a key factor that affects your insurance rate, but there’s a variety of additional factors to do with your vehicle that impact your premiums. So, it isn’t really the case that all SUVs are cheaper than all sedans when it comes to getting an auto policy. If you look at the list there aren’t many larger, 7-seater style SUVs in these comparisons. The second is that that doesn’t go for all types of SUVs. Average insurance rates are usually based on a quote for a hypothetical driver who may have little in common with your own coverage needs. Of course, there are a few things to keep in mind here. In terms of a percentage for what you’ll pay on top of the cost for the car, compact SUVs again come out as the better value. The cheapest compact sedan of those analyzed starts $16,975 is the cheapest option among sedans, setting you back $1,372. For instance according to The Zebra, a policy for one of the most affordable compact SUVs, the Honda CR-V, the example average annual premium is just over $1,200. Taken as a percentage of the sticker price, the cost of these vehicles seem cheaper still. According to Value Penguin the average rate for a small SUV is $2,700 compared to $3,114 for a compact car and $3,120 for a midsize sedan. In fact, certain types of SUVs can wind up having lower premiums than sedans.
The lowest rates for the Ford Explorer was higher at $1,923 per year but the average rate was $3,587.Ĭomparing auto insurance premiums very generally between sedans and SUVs, the cheapest premiums you could find would probably be for a utility vehicle. While this range is reasonably indicative of these types of SUV, the numbers can go up further for larger vehicles. How much will an SUV cost to insure? That depends on the type of SUV you drive, but also the specifics of your quote.Īccording to The Zebra, who based quotes on a 30 year old single male with a good driving record, reports annual coverage rates of between $1,222 and $1,427 for a Toyota RAV4.įor the same vehicle, and a similar 30 year old male driver, but living in New York, Chicago, Los Angeles or Dallas, the rate with the cheapest insurer was higher at $1,744, according to Value Penguin. were SUVs, while cars account for just 26 percent.Īs more people swap sedans for utility vehicles does that also mean higher auto insurance premiums? After all, more expensive cars cost more to insure in theory, but is the case for SUVs versus sedans – and which types of SUVs are the cheapest to insure? According to IHS Markit 42 percent of vehicles sold in the U.S. If you recently bought a brand new vehicle, it’s most likely that you drive an SUV.
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