Insurance is such a valuable asset. However, sometimes high rates make us wonder if we could get by without it. If your monthly premium is becoming unaffordable, it’s time to take a critical look at why.
The type of car you drive may translate to higher rates. Regardless of how pristine your driving record may be, some vehicles are simply more expensive to insure. The best way to lower a deductible may be to sell a car and buy a different one.
The Size Dilemma
An article on Kelley Blue Book’s website, “The Most Expensive and Least Expensive Cars to Insure,” discusses how car size affects insurance rates.
According to Kelley Blue Book, insuring a small and sporty car is often expensive. This is because, statistically speaking, the drivers of sporty cars are more likely to drive fast and recklessly. So that means that larger cars must be less expensive to insure, right? Not exactly.
The article says, “A large SUV could drive up the cost of your liability premium — the premium that covers damage to other vehicles involved in [an] accident — because of its potential to inflict a greater amount of damage on other cars.”
This means that medium-sized vehicles, such as sedans or SUV crossovers, often have the lowest insurance rates.
A Note on Sports Cars
If you drive a hot rod, such as a Ford Mustang or a Chevrolet Camaro, prepare for high insurance rates. These vehicles are known for their speed, which makes them more prone to speeding tickets and accidents. If you’re trying to cut back insurance rates, selling the car is one of the few options.
Indy Cash for Cars
Are you ready to sell your car? Head to Indy Cash for Cars. We don’t require appointments, and we can provide a competitively priced estimate within minutes. In addition to offering cash for cars, we also offer cash for trucks, SUVs, motorcycles, and more.
Don’t hesitate to contact www.indycashforcars.com at 800-404-6461 with any questions. We look forward to serving you in Indy.