If my new car is safer to drive, why is the cost of my insurance more expensive?

My new car has a bunch of safety features. It parks itself, there are countless airbags, etc., etc. I thought my insurance rate would go down when I added the car to my policy, but this car costs more to insure than my old, less safe car. Why is that?

Answer
“Cars are getting more and more safety features every year, and while the features are fantastic, they can be expensive to repair.
If you compare the insurance premium of your old car and your new car side by side, the cost of bodily injury liability and property damage liability is probably about the same. You may even be paying less now for liability.
However, it is the cost of comprehensive coverage and collision coverage that will be much higher.
The new safety features tend to be computerized, which means you may need a mechanic who specializes in your car if it is in an accident. The cost of parts and labor tends to be higher with new features as well.
As the car gets old and there are more parts readily available, you will see the cost of the physical damage insurance decrease. “
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Shannon Martin
Answered on May 06, 2021
Shannon is an expert in personal lines liability insurance with 13 + years of insurance industry experience. She also served as a special insurance liaison to AARP members for 6 of those years. She is a graduate of UL Lafayette and currently resides in NY with her family. Shannon is also an amateur juggler, ukulele player, and is a time travel paradox theory enthusiast.
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