Sport utility vehicles, aka SUVs, are an awesome compromise for those who want the functionality and persona of a truck but need the practicality of a mini-van. However, the sticker price and insurance premiums can be higher. This makes it less awesome for your piggy bank.
Finding the right coverage that won’t break the bank can be difficult. Inndependent insurance agents can help you get the most bang for your buck. They’ll walk you through top options to find an SUV policy that fits your needs and budget.
What Is SUV Insurance?
SUV insurance is basically car insurance for your sport utility vehicle. SUVs are larger and more expensive than your typical car. Coverage is designed to protect with the cost and features of an SUV in mind.
Does My SUV Need Specialized Insurance?
SUV insurance is pretty close to regular car insurance. Premiums and coverage may differ from a standard car policy due to several risk factors.
Risks and reasons for SUV insurance:
- Size: SUVs are larger than normal vehicles and can cause more damage during a collision, resulting in more expensive bills.
- Rolling risk: SUVs sit higher off the ground than a typical car and are more likely to roll.
- Expensive repairs: Repair costs for SUVs can be more expensive than those for a standard car.
Who Needs SUV Insurance?
There’s no universal definition of what qualifies a vehicle as an SUV. But key features can include off-road capabilities and raised ground clearance.
Insurance carriers will most likely have a list of makes and models that they have identified as SUVs. If your vehicle is on that list, then you will need SUV insurance.
What Does SUV Insurance Cover?
Just like typical car insurance, SUV insurance provides general collision and liability coverage. Most full coverage SUV insurance will include a combination of the following:
- Liability or no-fault insurance coverage: This will pay for any bodily injury and property damage to someone else or their vehicle and/or property as a result of an accident.
- Collision coverage: This will pay for any damage that your vehicle sustains during an accident.
- Comprehensive coverage: This will pay for vandalism, theft, and other damage that could happen to your vehicle outside of an accident.
While these are the typical offerings of insurance, there is a variety of additional protection that can be added. It’s best to work with your agent to determine what else you need in your SUV policy.
How Does SUV Insurance Differ for an Old vs. New Car?
When car shopping, there are two factors that will play a role in the price of premiums.
- Safety: Since newer SUVs come with more safety features than their predecessors, a new SUV can be less expensive to insure.
- Value: An older vehicle won’t cost as much, so is cheaper to replace. This could make an older SUV less expensive to insure.
The best way to determine whether an old or new SUV is going to save you money is to provide a list of options to an agent. They’ll be able to go through each vehicle with comparative insurance quotes.
How Much Does SUV Insurance Cost?
In general, SUV insurance is more expensive than typical car insurance. This is because there are a number of additional factors that insurance companies take into consideration when insuring an SUV.
- Safety: While it may seem like you’re safer driving an SUV, in fact, you’re not. As we mentioned earlier, SUVs have a raised center of gravity, making them more likely to roll.
- Age of the car: Over the years, SUVs have become more popular and therefore companies have built them smarter and sturdier. Remember, safety matters, so the more unsafe your car, the more of a risk you are on the road.
- Injury potential: In the event of an accident, you and your passengers are likely to suffer worse injuries in an SUV than a sedan. It all comes back to that high center of gravity.
- Target for auto theft: Unfortunately, SUVs are prime targets for theft. Seeing as SUVs are more expensive than sedans, they are targeted more often by thieves expecting to find more expensive things inside.
- Expense to repair: Expensive cars are expensive to fix. In the case of an accident, the bills will be higher to fix your SUV.
How Can I Save Money on My SUV Insurance?
Independent insurance agents can help you find the ideal rates for your SUV. If you’re shopping around for a new SUV, there are some things you can do to help lower your potential premium.
- Install safety measures: Things like airbags, anti-lock brakes, parking sensors, and anti-theft alarms can help lower your premium.
- Set a high deductible: The higher your deductible, the lower your rate. Make sure you can afford it, but go as high as you can (and we don’t say that often).
- Compare quotes: You want to look into at least three different quotes before deciding which one to choose. Independent agents will be able to help you find the best SUV insurance quotes available.
- Have good credit: Your credit score can affect your insurance premium. Be sure to maintain a healthy one.
- Purchase an SUV that is cheaper to insure: Certain SUVs can have lower premiums due to a number of factors.
These are currently the cheapest SUVs to insure.
How to Find SUV Insurance Quotes
Awesome independent insurance agents will review your needs and help you evaluate which type of SUV insurance makes the most sense for you. They'll also compare policies and quotes from multiple insurance carriers to make sure you’re properly protected. So you’ll have that going for you.
The Benefits of an Independent Agent
Insurance policies are complex, and searching through options can be confusing, time-consuming and frustrating. An independent agent's role is to simplify the process.
They’ll make sure you get the right coverage that meets your unique needs and will break down all the jargon, so you understand exactly what you're getting.