Why You have to Pay More for Some Makes of SUVs

A lot of factors influence the insurance premiums:

  • drivers’ and owners’ age, sex, place of residence and their driving record;
  • the coverage which is selected for that case;
  • the driving purpose of the car (business or personal).

That is why different drivers pay different premium for the same car.

The frequent question of the sport utility vehicle (SUV) owners is why they pay more to insure their car than another.

It is because insurers are not taking into account only the factors which are pointed above, they also think over the probability that a particular brand of vehicle will be stolen, vandalized, or involved in an accident; monitor the costliness of repairs; get their information by consulting various claim statistics and expert reports.

Such organizations as The Highway Loss Data Institute index the cost which insurance companies have paid out (on average) for clash, injury, and theft claims for different types of cars. That is why, if the SUV is stolen very often by thieves across the country will probably cost more to insure than the one that is less attractive.

Insurers keep the record of their own experience with claim payouts in addition to the industry wide statistics. For example, if numerous claims regarding a particular make of SUV were paid by one company, it can raise its insurance rates for that type of motor vehicle as compared with another company. That is why, it's important to obtain quotes from different insurance companies before paying for your SUV.

Note: Sometimes the state, but not the insurance company, decides how every vehicle is rated.

We ask you to remember that the explanation above is destined only as a guideline.

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