The Car You Drive Has A Huge Impact On Your Insurance Quote. Here’s Why

2 Mins read


The bigger the car, the higher the quote: image source

We all understand that insurance companies base their premium quotes on risk. The more risk involved in your driving lifestyle, the higher the premium. That’s because the insurance company is liable to pay an enormous bill if something goes wrong. If you crash the car, they’ll pay out to both you and the other party involved. If the car is stolen, they’ll pay for the replacement. Naturally, the more risk involved, the higher your insurance bill.

You probably already know one or two factors that affect your insurance quote. Your age, your profession, and your location. But today, we’re focusing on the car itself. You may not realise it, but the make and model of your car goes a long way to determining your quote. That’s because some cars are more hazardous than others. Insurers group every new car into a ‘bracket’ based on risk. The lower the risk, the lower your quote. Before you buy your next car, take a long, hard look at where yours sits. Here’s a full breakdown of how your car is assessed by insurers.

Safety rating

Every new car is put through independent crash testing to determine its safety. The Euro NCAP tests return a star rating out of five, and a percentage total. The safest car on the road, for example, is the Volvo V40. It returned the highest ever Euro NCAP percentage rating. The safer your car, the lower your chance of injury. In fact, modern technology actually reduces your likelihood of crashing at all. The V40 has sophisticated computers onboard that perform evasive steering and braking for you. When crashes and injury are less likely, your insurance quote goes down. The Volvo is just one vehicle with incredible safety ratings. Click here for more cars that suit your safety bracket.

Size of the vehicle

This rule is based on a simple law of physics. The bigger your vehicle, the more damage it will do in a crash. Large, heavy vehicles will leave lasting marks on a third party, leaving your insurance company liable. The bigger the car, the higher the insurance bracket. Insurers also take into account the size of your engine. A super-charged V8, for example, allows the driver to go much faster. That puts them in a riskier position on the road. The bigger the engine, the bigger your bill.

Age of the car

Brand new cars have a higher insurance price tag. It’s that simple. The reason for this is that older cars are usually ‘written off’ in a big accident. Ie, the cost of repair is higher than the value of the car. It makes it worthless to fix. So, most older cars are then dumped for scrap. With new cars, owners will want to have the vehicle repaired. That means a call to the insurance company who have to foot the bill. That’s why we advise opting for a second-hand model if you’re looking for cheaper insurance.

As you can see, the make and model of your car has a significant impact on the insurance quote. If you’re on a budget, choose yours carefully!


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