{"id":5824,"date":"2022-11-27T07:43:00","date_gmt":"2022-11-27T07:43:00","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=5824"},"modified":"2024-05-10T15:32:26","modified_gmt":"2024-05-10T15:32:26","slug":"insurance-rates-by-car","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/auto\/insurance-rates-by-car\/","title":{"rendered":"A Guide to Understanding Insurance Rates By Car"},"content":{"rendered":"\n
What if you were paying higher rates for your insurance policy and you didn’t even know it?<\/p>\n\n\n\n
All drivers want lower rates, but most drivers don’t know which factors affect how much they pay. These drivers may end up asking a question: do rates vary by car?<\/p>\n\n\n\n
Yes, rates vary by car, so what you drive affects how much you have to pay. That\u2019s why it might be a good idea to think about the cost of auto insurance<\/a> before purchasing a specific vehicle. Now may also be the best time to see if another insurer can provide you with a better deal.<\/p>\n\n\n\n In order to get the cheapest, you need to know more about how insurers set prices based on what you drive.<\/p>\n\n\n\n How much you pay for your auto policy depends in part on what kind of car you drive. More expensive vehicles are typically more expensive to insure, and vehicles with certain safety features may be less expensive to insure.<\/p>\n\n\n\n At first, it might seem unfair that more expensive cars are more expensive to insure. But this is a major factor because if you get into a big accident and need a new car, the company will have to pay that much more to replace your vehicle.<\/p>\n\n\n\n The short story is that your average sports cars are less expensive to insure than, say, a Toyota Camry. Now, let’s take a closer look at how auto rates vary by what kind of car you are driving.<\/p>\n\n\n\n Some of the cheapest cars to insure by make<\/a> include:<\/p>\n\n\n\n If you are mostly looking for a lower premium, keep in mind that American-made, non-luxury brands are typically cheaper to insure. Foreign cars and luxury cars, meanwhile, require you pay an added cost on your coverage. This is one of the reasons you should always think long and hard before you buy a new vehicle!<\/p>\n\n\n\n As of 2021, the least expensive model to insure was the Chrysler Voyager L, which had an annual yearly cost of $1,272 in premiums.<\/p>\n\n\n\n Some of the most expensive cars to insure by make include<\/p>\n\n\n\n These are the kinds of cars that always turn heads. But if you’re about to become a new driver of one of these cars, keep in mind that the quotes you get may be higher than you were expecting.<\/p>\n\n\n\n In some cases, an experienced agent may be able to tell you more about how much it will cost to insure a prospective new car. By having that conversation sooner rather than later, you may be able to save yourself an annoying headache and more than a few dollars!<\/p>\n\n\n\n These makes of cars are typically more expensive because it costs more to repair them if you\u2019re in an accident. Therefore, insurers charge more for your premiums to account for this. Regardless of which type of coverage you get (whether it’s just minimum liability coverage or a full-coverage policy), you will see a rate increase compared to the auto premiums you normally pay.<\/p>\n\n\n\n It\u2019s also worth noting that you really can\u2019t afford to only have liability when you have an expensive new car. That\u2019s because if you are in an accident that is someone else\u2019s fault, their liability may not be high enough to pay for the damages. And, of course, if you cause an accident, liability wouldn\u2019t pay\u2026you\u2019d need collision coverage for that.<\/p>\n\n\n\n What car, though, would be most expensive for you to insure? As of 2021, the most expensive model to insure was the Maserati Quattroporte S GranSport, which had an annual yearly cost of $4,823 in premiums.<\/p>\n\n\n\n Technically, there are a variety of things that make cars more or less expensive to insure. For example, we previously touched on how the presence of certain safety features could reduce the costs of coverage.<\/p>\n\n\n\n Mostly, though, what affects the cost of your auto policy revolves around two factors: where the car was made and how much the car costs. By understanding more about both of these factors and how they work, you may be able to save money and better navigate the confusing world of car insurance.<\/p>\n\n\n\n Why do foreign vehicles cost more to insure? Simply put, they require foreign parts. This means if you get into an accident and file a claim, it will be more expensive for the carrier to repair your vehicle. Therefore, the carrier passes the added cost around in the form of higher car rates. This is something that drivers of foreign cars discover almost right away because even basic repairs and maintenance of their cars require importing parts from some very exotic places.<\/p>\n\n\n\n Even if you drive a domestic car, you may pay higher insurance premiums<\/a> if the car is expensive for the same reasons we outlined above. Whereas a cheaper car is cheaper to repair or replace, more expensive cars cost more. This naturally leads to higher costs for the driver. In some cases, you may need more specialized insurance, such as getting classic car insurance<\/a> for your vintage vehicle. Therefore, while it shouldn\u2019t be your only consideration, it may be worth considering buying a cheaper car if you would like your policy to be cheaper as well.<\/p>\n\n\nDoes Car Insurance Depend on the Type of Car?<\/a><\/h2>\n\n\n\n
Cheapest Rates by Car<\/a><\/h3>\n\n\n\n
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Most Expensive Rates by Car<\/a><\/h3>\n\n\n\n
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Why Are These Cars So Expensive to Insure?<\/a><\/h3>\n\n\n\n
What Makes a Car More Expensive to Insure?<\/a><\/h2>\n\n\n\n
Where the Car Was Made<\/a><\/h3>\n\n\n\n
How Much the Car Costs<\/a><\/h3>\n\n\n\n