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FAQ: Auto Insurance Rates Explained
How does my car affect my auto insurance rates?
Does this situation sound familiar? You’ve got your eye on a flashy red sports car, but your spouse is trying to convince you to buy a sensible family sedan. Unfortunately for you, it may be wise to listen to your levelheaded partner. That’s because the flashier your vehicle, the greater your auto insurance rates will be.
Auto insurance protects your finances in the event of a loss. Expensive cars are expensive to repair and even more expensive to replace. As a result, fast, high-performance vehicles are generally more expensive to insure than 4-door family sedans. It makes sense that owners of more expensive cars have to pay higher auto insurance rates— they have more to lose financially in an accident.
Everyone notices a sports car— especially the police! In fact, drivers of flashier cars, especially red ones, are more likely to get cited for speeding and other violations. Speeding tickets on your driving record can have very negative long-term effects on your auto insurance rates. If you want to learn more, check out Speeding & Your Auto Insurance.
Regardless of whether you’re insuring a sports car or a sedan, you can often receive a discount on your auto insurance if your car includes safety features. More importantly, these safety features could save your life in an accident. For more information about the benefits of safety features, take a look at: Is Your Auto Fully Loaded… with Safety Features.
Anti-theft devices are another way you can earn a discount on your auto insurance. Learn more about ways you can save and prevent your car from being stolen in our
Auto Insurance Learning Center.
While we don’t want to dash your dreams of living like a movie star, we do think it’s important to be aware of the hidden costs involved in buying a sports car. Still deciding if it’s worth it? Get a free quote from Esurance to compare auto insurance rates between your fantasy car and a less noticeable one.
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