SUV Auto Insurance Question

Reader’s Question:

Is it harder to insure SUV’s?

Kyle

New York, NY

Thanks for asking, Kyle.

If you have one, then this might come as bad news to you. SUVs are magnets for high insurance rates! That’s an added burden to having a higher ticket price at dealership and costing a mint to fill up. SUVs cost 10-20% more to insure as compared to regular cars.
Want to know the reason why? It’s really because more often, SUVs can cause more damage to other vehicles during accidents. Such will cause the payout rates for the insurance companies which will definitely increase liability premiums.

Regardless if you are a safe and careful driver, SUVs will have fared much better than their counterparts in most accidents. SUVs feel safer, though it doesn’t really follow that it is safer. About 12% of vehicles on US roads are SUVs because of this. Even if, SUVs can also pose some inherent dangers which include hazards such as greater potential to flip during high-speed turns, collisions, or when avoiding accidents. The center of gravity for SUVs is less balanced which makes them top-heavy since they sit higher off the ground. Roll over accidents are very costly in terms of vehicle repairs and personal medical expense which make them charge higher for SUV auto insurance premiums.

Aside from that, car thieves mostly covet for SUVs which can be very costly for replacement claims! In other words, SUVs are high-risk vehicles for auto insurance companies which will lead them to charge car insurance premiums higher than the other car types.