Because they have higher repair costs, they tend to be more expensive to insure than other brands. Cars that are expensive to repair will make the owner pay more. If there are too few replacement parts, insurers will want to compensate for this shortage. Family cars and SUVs generally cost less to insure than higher-horsepower high-performance vehicles, Hands says.
Insurance companies base their auto insurance rates based on the risk you represent, as well as on the age, make and model of the car, the optional coverages you choose, and the amount you're willing to pay for any claim (that is, many factors influence an insurance company's decision-making process, and a low insurance score alone wouldn't be the reason you could be denied coverage). Most car owners prefer cheap car insurance because, yes, you might not want to drive a Dodge to get it. There is a chance that a car with more safety features will suffer fewer serious accidents and cost insurance companies less in claims. There are many risks associated with luxury cars, which generally translate into higher car insurance costs.
You'll pay more for car insurance if you drive a luxury vehicle, such as a BMW or Mercedes Benz—that's how car insurance works. Once you know the underlying methodology of auto insurance quotes, the list of the most expensive cars to guarantee isn't surprising. It's pretty obvious why your insurer would want to anticipate the likelihood of you filing insurance claims. Statistically, some car models are involved in more accidents than other models and, therefore, their owners pay higher car policies.
On this site, customers have access to insurance plan quotes from various agencies, such as local or national agencies, branded insurance companies, etc. This website is unique because it is not limited to just one type of insurance provider, but rather offers customers the best deals from many different online insurance companies. In addition to selling your Maserati Quattroporte and exchanging it for a Honda CR-V (one of the cheapest cars to insure), here's how to get cheaper car insurance. He adds that a company will also analyze how often specific cars are stolen, how much they have had to pay in collision claims for specific cars, and how much they have had to pay in accident benefits.
Other factors can affect your car insurance rates more than the vehicle, such as your driving history and even your credit.