Compare-autoinsurance.org (https://compare-autoinsurance.org/) is a top auto insurance brokerage website, providing car insurance quotes online from trustworthy agencies all over the United States. This website presents the main car-related factors that influence premiums.
When purchasing auto insurance, the vehicle’s model and features play a pivotal role. The exact sub-model will influence how much the owner has to pay. When determining premiums, insurance companies take into consideration the following aspects;
The retail price of the car. Usually, luxury, exotic, collectible and classic cars are expensive to buy and have higher premiums. Cars that are cheap to purchase have lower insurance rates.
The cost of repairs. Cars that are expensive to repair will make the owner pay more. If there are very few replacement parts, the insurers will want to compensate for this scarcity.
Type of car. Family vehicles are more likely driven by responsible parents who consider safety to be a top priority. These cars tend to be equipped with multiple safety devices and are also in high-demand, with numerous spare parts available.
Safety devices. Sophisticated safety devices and crash avoidance features installed on different car models, can lower their insurance rates. However, if those safety devices and features are too expensive to repair, it can increase the cost of the premium, instead of lowering.
Engine size and power. Cars with big, powerful engines are more expensive to insure. Also, they tend to be more expensive to repair.
Fuel economy. Fuel efficient car models are cheaper to insure. Small engine cars or hybrid models are usually driven by drivers that respect the speed limits and are less likely to cause accidents.
Theft rates. How often a car model is stolen can have an impact on car policy rates. Some models are targeted by thieves more often, so insurers will probably charge a higher premium on those models.
Accident statistics. Some car models are statistically involved in more accidents than other models, and thus their owners pay higher car policies.
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