Crossover vehicles top the list of low insurance totals
San Francisco, CA -- (SBWIRE) -- 02/01/2013 -- In days past the minivan was the preferred vehicle for family travel. They were also known for the low insurance costs. These days the minivan has been dethroned as the least expensive vehicle to insure. Now here come the crossover vehicles. The wonderful mix of style, room for the whole family, plenty of storage space, and versatility, more and more families have been trading in the old minivan for a new crossover vehicle.
Many car companies that produce a crossover vehicle made the list such as Ford, Kia, Hyundai, and Jeep. With the relative low cost of these vehicles and the view of them as the “family” vehicle the insurance companies keep the rates down. As a “family” vehicle the expectation to be involved in an accident is relatively low. This plus the popularity of these vehicles also means that the cost of parts will be cheaper as well as the cost of labor. Both of these points factor in to the insurance companies equation when figuring out the premium to charge.
Most often the most expensive cars to insure are the ones with the highest price tags. These include many popular names such as Mercedes Benz and Porsche. The reason behind this is the view of these cars being “sports” cars and therefore more likely to be involved in an accident. The more exotic and expensive cars are not produced in the quantity as their less expensive counterparts, so finding the parts to replace anything damaged and the specific knowledge needed to repair them will be more costly. This is a big reason for the insurance companies to charge higher premiums to owners of these vehicles.
These lists were compiled by the website Insure.com. Through nationwide research and evaluation of many different insurance companies such as, Progressive, Allstate, Nationwide, Geico, and Farmers, they have calculated the average costs of car insurance for different vehicles.
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