Car insurance costs may vary for select suvs

Insurance premiums depend on several factors, including your age, sex, place of abode, and drive record; the amount and type of insurance coverage you select; and whether you drive your vehicle primarily for concern or personal purposes. This explains why one driver might pay a different premium than another for the same make of motor vehicle.

But why might it cost you more to insure one sport public utility vehicle (SUV) than another?

In add-on to the factors listed above, insurance companies also:

Consider the likeliness that a specific brand of vehicle will be stolen, vandalized, or involved in an accident
Track the dearness of repairs
Obtain their info by consulting various claim statistics

The main road Loss Data Institute, for illustration, indexes the amount of money insurance companies have paid out (on norm) for hit, injury, and theft claims for various types of motor vehicles. Therefore, the SUV that is most attractive to stealer across the state will likely be more expensive to insure than the one that is stolen least often.

In add-on to these industry wide statistics, insurance companies consider their own experience with claim payouts. For case, if one company has paid numerous claims regarding a specific make of SUV, it may complaint higher insurance rates for that type of SUV than another company would. For that ground, it's wise to obtain quotes from several insurance companies before insuring your SUV.

Note: In some cases, the state, not the insurance company, decides how each vehicle is rated.

Please note that this verbal description/explanation is intended only as a guideline.