| Just because a car is cheap doesn't mean the | | | | Theft and fraud patterns: Cars that are |
| insurance will be. High-cost cars aren't | | | | frequently stolen are more expensive to |
| always the most expensive to insure either. | | | | insure. Thieves have their favorites based on |
| If you are concerned about high insurance | | | | market demands and interchangeability of |
| rates, you probably shouldn't go out a buy a | | | | parts. The Honda Accord and the Toyota Camry |
| new $33,000 Honda S2000 convertible. And that | | | | are the most frequently stolen cars. If you |
| little inexpensive Volkswagen GTI, listed at | | | | live in an area where there are high auto |
| $22,000, will cost you as much in insurance | | | | theft rates, you could pay more in premiums. |
| as its bigger cousin, the Passat, which costs | | | | Insurance fraud is also on the rise and will |
| twice as much. | | | | result in higher insurance costs, especially |
| | | | if you live in New York, Massachusetts or |
| Looking for cheaper insurance rates? The 2004 | | | | Florida. |
| Chevrolet Aveo and the 2004 Chevrolet | | | | |
| Colorado are among the cheapest 2004 models | | | | Model year, weight and vehicle type: The more |
| to insure. | | | | power you have the higher premiums you will |
| | | | pay. Sports cars, high-performance vehicles |
| The main factor in the cost of insurance for | | | | and luxury cars have the highest losses for |
| certain vehicles is not in the price, but its | | | | vehicle damage and small, light vehicles have |
| claims history. For example, certain cars are | | | | the highest death rates. Passenger vans and |
| proven to be stolen more often. Some have | | | | station wagons have the lowest losses for |
| high repair costs or are in more accidents | | | | vehicle damage. SUV's and trucks will |
| than other cars. There are many factors, not | | | | generally sustain less damage in a collision, |
| just the cost of the car, that affect the | | | | but will cause more damage and higher |
| premiums. | | | | liability claims. |
| | | | |
| Insurance premiums are based on several | | | | Driver demographics: Your age, where you |
| factors, including: | | | | live, your gender, driving record and credit |
| | | | history will affect your premiums. If you |
| The sticker price: a car that costs more to | | | | have a bad driving record, you will pay a lot |
| buy, costs more to replace. | | | | in insurance premiums. If you have a good |
| | | | clean driving record, you'll pay less for |
| Repair costs: Repair costs are skyrocketing | | | | insurance. |
| at nearly double the overall rate of | | | | |
| inflation. There are so many technological | | | | Technological progress: New gadgets and |
| advance included in cars that they are more | | | | doodads in cars will make your premiums |
| expensive to repair. | | | | higher. This is because the cost of repairs |
| | | | is more expensive. |