The main attraction in SUV’s is the fact that you can go off road without fear due to its ruggedness. What does NOT usually occur to you is what you might have to pay as insurance rates for such features. Painfully, most SUV owners pay a lot more than they would if they knew a few things. There’s a reason for everything and we’ll show you those that make SUV’s insurance-unfriendly along with tips to help you spend less…
The risk associated with giving you the level of coverage you demand is what generally determines how much you pay as rate. If your friend is considered a better risk than you by a factor of 50%, your friend’s rate should be lower than yours by that same factor. So let’s see in which ways sport utility vehicles pose a bigger risk to insurers before we go into ways to reduce that risk…
1. Common sense tells you that an SUV will do more damage than a small vehicle if there’s a collision. This is because they have more rugged designs and features. If the collision involves smaller vehicles, the passengers in those other vehicles are, therefore, exposed to greater danger.
2. These vehicles are generally NOT considered as safe as cars. For example, they have a higher center of gravity which makes them more susceptible to somersaulting than cars.
3. If there’s need to repair an SUV, it would be at a greater cost.
4. Many of them seem to catch the fancy of thieving rats. A high theft rate is bad for a vehicle since it makes owners pay a lot more in auto insurance rates.
So what can you do to reduce your rates?
1. Raise your deductible.
2. Do NOT make claims on little stuff. This should entitle you to a No Claims Bonus with time.
3. Make sure your credit rating is excellent before applying for your policy.
4. Make sure your SUV is always parked in a garage.
5. Make sure you have all the recommended safety equipment.
6. Even among SUV’s, some cost a lot more to insure than others. Getting this piece of information might be very helpful while shopping for an SUV.
7. Make sure you maintain an excellent driving record.
8. If you have other vehicles, try insuring this one with the same insurer. Even though this gives you the benefit of a multi vehicle discount, it’s by NO means guaranteed to save you more than you will if you get very good rates from various insurers for each vehicle. Therefore, it’s a good idea to compare what you’ll save from a multi vehicle discount with what you’ll save by getting the best rate quotes on each vehicle from different insurers.
9. If you’re a married man, have your SUV insured in your wife’s name and be named the secondary driver. Don’t forget that all other things being equal, a woman will get a lower rate than a man.
10. Obtain and compare quotes from as many insurance companies as you can. Each insurance company has its own loss history, underwriting experience and expertise. Don’t be surprised to find an insurer that will save you over $1,000 in premium dollars.
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Tags: auto insurance, autos, insurance, suv insurance