Reader’s Question:

I am thinking of buying an SUV. Is it true that SUV insurance costs more?

Sharon

El Paso, TX

When applying for car insurance, insurers check a person’s age, gender, traffic violations history and insurance claims in the past. Additionally, the car’s make and type have a big impact on the rates that will be assessed. Smaller cars which have low performance engines are cheaper to insure as they are less likely to cause significant damage in a crash. Meanwhile, Sports Utility Vehicles (SUV) will generally be more expensive to insure. This is because of the great damage they may cause to other smaller cars. It has also been reported by the Insurance Information Institute that pedestrians hit by SUVs are 300% more likely to suffer serious injuries than if they were hit by a regular sedan. Insurance providers also charge higher premiums when insuring SUVs as the costs to have these types of vehicle repaired or replaced are very expensive.

It is for these reasons why you should weigh your options before you buy that SUV. But if you want to go ahead and buy one, shop for SUV insurance quotes from different companies accredited to operate in your state. This way, you get to know in advance how your rates will be so that you can plan your budget accordingly.