Friday, 19 November 2010
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Wondering why SUVs are cheaper to insure?
As you may probably know, many factors are used by insurers in order to determine insurance costs. Unquestionably , the make and model of your car plays an important role. And rightly so. It wouldn't be sensible if all cars need the same amount of insurance cover.
Its common sense to expect that sport and exotic cars are more expensive to insure. Bigger motors produce more horse power and as far as your insurance company is concerned, this would mean higher insurance costs.
But, does this definitely mean that larger vehicles are generally costlier to insure than smaller ones? The answer, believe it or not, is NO. Statistics show that, SUVs are more affordable to insure than most cars. You are almost certainly wondering why?
Ok, there are 2 main reasons, both associated with the type of motorists who usually own such cars. SUVs are normally family vehicles. Its only natural for mothers and fathers who are driving their young children to school or football practice to be more careful on the road. They tend not to drive during the night or in bad weather conditions. What this means, of course, is that SUVs have better "accident history" than some other vehicles. Its much more likely that a young driver will cause a crash with a small and less powerful car, than a mother driving an SUV on her way to the supermarket.
Insurance carriers pay a lot of attention to these statistics. If a specific make and model has a good accident history, than its owners will benefit from lower insurance costs.
Yet another reason why SUVs are less costly to insure is basic safety. Most family autos are packed with safety features, which is certainly one of their primary selling points.
A solid arguing point here is that SUVs aren't really the most ecologically friendly vehicles out there. It will not be a total shock if in the near future insurance companies start giving discount rates to "greener" vehicles. For the moment, having a SUV means that you have a better chance of finding affordable car insurance.
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