• Enter your Zip Code

  
  

  Do you currently have auto insurance?
  Yes No
  

Does Age or Make of Car Affect Insurance Premiums?

Your age and the make of your vehicle greatly affect your car insurance premium. However, if you compare multiple quotes and inquire about discounts, you can save money on your car insurance. Choosing the right insurance company for your situation and vehicle is not as easy as some people make it out to be. The wrong company will not only charge you more than you deserve, but will also leave you financially vulnerable in the event of an accident. This is why it is imperative that you research and compare a variety of insurance carriers.

Spend the same amount of time choosing an insurance company as you did comparing and choosing a vehicle. Once you have found the right insurance company, your premium is calculated. There are multiple factors used to calculate this cost including age and type of vehicle.

Age

Teenage drivers:  When drivers first get behind the wheel for themselves at 16, they are more likely to be involved in a collision than any other age group. This is exactly why teenagers pay more for insurance than other drivers do. After a few years of experience, their rates go down. Typically, at age 25, drivers are no longer charged more for insurance due to their age. This is because after nine years of real-world experience, drivers are statistically less likely to be involved in collisions.

Mature drivers:  Much like when a driver turns 25, discounts are also available for elderly drivers. This is because as drivers reach a certain age, they tend to spend less time on the road. This is also because experienced, mature drivers are less likely to be involved in risky activities like racing and aggressive driving. Be sure to discuss with your insurance provider the rules and regulations regarding mature driver discounts.

Vehicle

The make of your vehicle is also extremely important in calculating the cost of your insurance premium. Below is a list of common vehicles and their typical insurance costs.

Hybrids:  Hybrid drivers are safe drivers. They are involved in very few collisions and as a result, pay less in insurance premiums than other drivers do. They may also qualify for additional "green" discounts depending on the insurance provider.

Sports cars:  Sports cars are simply the most expensive cars to insure. This is because sports cars not only cost more to buy and repair than traditional cars, but also because the sports car driver is more likely to be involved in a costly collision than a family car, or hybrid driver. The only exception is when the sports car is a second vehicle or show car.

Family cars:  Drivers who purchase family cars such as minivans or station wagons don't typically list performance and speed as the reason they chose their specific models. Safety and price are the most common reasons for buying these types of vehicles. As a result, family car drivers pay less in insurance premiums because they are seldom involved in collisions due to aggressive driving.

SUVs:  While most SUVs are statistically safer than smaller economical cars, they can still be expensive to insure. This is because a new SUV is expensive. If it is involved in a collision, it costs the insurance company more to repair than a small car. Therefore, unless it is an older, less expensive model, SUV drivers can expect to pay high insurance costs.

Imports:  The main variables that affect imported vehicles are cost and repairs. Like sports cars and SUVs, the higher the sticker price, the higher the insurance costs. However, for some imported vehicles, repairs are what really affect insurance premiums. For example, if your vehicle features rare or expensive parts, then you can expect to pay a high insurance premium. This is especially true for vehicles that recommend only using original parts. There are exceptions to this rule as well. Some imports are inexpensive, popular, and easy to repair. A simple rule of thumb is that the cheaper the parts, the cheaper the insurance.