SUV Insurance Rates
When someone buys a SUV, he is thinking of ruggedness, power and ability to do the impossible. What doesn’t typically come to mind is what you may need to pay in the form of insurance rates for these features. Unfortunately, many sport utility vehicle owners end up paying a lot more than what they might if they only knew some relevant things. In this article we will discuss why insuring a SUV costs a lot more and what measures we can take to pay less…
The insurance that you pay is directly proportional to the risk that is perceived by your insurer in you. That means if your insurer assumes that you will cost him 50 or 55% more than Mr. X or Y, then it is for sure that your rates will be 50 or 55% more than Mr. X. Therefore, let’s take a look at the risks involved while insuring a SUV:
SUV Insurance Rates and Risks
- When involved in an accident, SUVs inflict a lot more damage when compared with other cars. This is because of their rugged built and designs, and as a result of which cause more damage to other vehicles and sometimes passengers too.
- When compared with cars, SUVs are not so safe. They are more likely to somersault due to high center of gravity.
- Due to their stylish nature, they are more prone to theft.
- Repairing a sport utility vehicle is pretty expensive.
So what steps should you take to reduce your SUV insurance rates?
- First of all, raise your deductible.
- Try to keep up with an excellent credit rating.
- Make sure not to claim on little stuff. With time this will enable you to a ‘No Claims Bonus’.
- Try to maintain an outstanding driving record.
- Make it a point to always park your SUV in a garage.
- Make it a point to have all the safety equipments that’s been recommended.
- Even amongst sports utility vehicles, some can cost quite a lot to insure. Therefore make sure to check before you make payments for your SUV.
- Those who are married can insure their vehicle in the name of their spouse. It is a known fact that when compared with men, women get better rates of auto insurance.
- If you own other vehicles, then make sure to insure your SUV with the same insurer. This will help you in getting a multi-vehicle discount, but sometimes it’s possible to save more money if you choose a different insurer. Therefore, it is always a good idea to compare offers or rates from other insurers as well.
- Try to get as much quotes as you can from different insurance companies, this way you can compare the rates. Each one of the insurance companies come with their own expertise, loss history and underwriting experience. Who knows, you can get SUV Insurance Rates that can help you save over thousand bucks.