The type of car you drive heavily influences how much you pay for insurance. Read this article to learn abut how insurance rates change by vehicle type.

Written by Brady Klopfer

Reviewed by Carrie Adkins

Updated on Jun 27, 2022

Table of Contents

Price
Speed
Theft
History
Coverage with Jerry

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There are a lot of factors that impact your car insurance rates. From your location to your

driving history

, auto insurance companies look at a multitude of information to come up with premiums that are accurate and fair.

One of the criteria that car insurance providers rely on is the type of vehicle that you drive. In fact, depending on the vehicle you drive, your car can be the biggest influencer on your

car insurance

rates.

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The price of your type of vehicle

Car insurance companies make money by charging you for their services. They lose money when you have to use their services and they end up paying for your vehicle to be

repaired or replaced

As a result, the more money it costs to repair or replace your vehicle, the more money your provider has to charge you in order to earn a profit. In other words, the more expensive your car, the more expensive your insurance rates.

Front damage to a Jaguar or a Porsche can cost thousands of dollars more than the same kind of damage to a Kia or Honda. Insurance companies have to take this into consideration when determining how much to charge you.

The speed of your type of vehicle

Even if your car is relatively cheap, if it can go fast, the insurance might not be as affordable. Drivers of

sports cars

are more likely to operate their vehicles at high speeds, which increases the odds of an accident occurring.

Any car that is routinely used for more than just basic transportation will likely carry a slightly higher insurance tag. In other words, a $20,000 convertible will probably cost a bit more to insure than a sedan or SUV of the same price.

MORE:

How to figure out what kind of car insurance you need

The possibility of theft

It would seem to follow, then, that it’s very affordable to insure a basic, simple, cheap vehicle. However, a

cheaper car doesn't always mean cheaper insurance

Very common vehicles are

more likely to be stolen

because thieves have a better chance of getting away with stealing a common, nondescript car. The frequency with which your type of vehicle is stolen is taken into account when car insurance companies calculate your rates.

The history of your make and model

Auto insurance companies keep track of how frequently different makes and models are involved in

accidents

. Certain vehicles have dramatically higher accident rates than others.

Not surprisingly, these vehicles tend to carry higher insurance premiums, as auto insurance companies have to make up for the fact that the car is more likely to end up needing repairs or a replacement somewhere down the road.

MORE:

How your credit score affects car insurance rates

Get fair insurance rates for your vehicle with Jerry

All of these factors ultimately play a role when your car insurance provider determines how much to charge you. You shouldn’t let this keep you from purchasing the sports car of your dreams, but it’s certainly something to keep in the back of your mind when shopping for a

new car

Make sure you’re getting the fairest price for your car insurance plan. You can compare your current plan with quotes from top providers with

Jerry

. Jerry is the easiest and most effective way to find a car insurance policy that is customized for you.

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