Why Type of Car Matters for the Cost of Insurance

hi this is Dan Whedon I'm a nasty recognized Insurance expert and today we're going to talk about which cars cost most or least when it comes to auto insurance now when I first got out of college and and my very first time of insuring my own car somebody told me somewhere that red cars were more costly to ensure than any other color or that sports cars in and of themselves were more costly the reality is is that neither of those are true what is true is that insurance is related to specific factors that are going to take take your cost up or down and I'm going to give some of those to you right now number one the liability the cost for your auto liability Remains the Same regardless of the vehicle the reason is because it doesn't matter what vehicles out there if you hit somebody and you're liable for damage or you you injure somebody the car makes no difference so your liability rate Remains the Same throughout so does any medical payments personal injury protection or uninsured motorist the place that makes the biggest difference is the physical damage you've probably heard comprehensive and collision comprehensive and collision is about your vehicle not a third parties not somebody else it's the cost to repair or replace your vehicle the higher the cost of that vehicle the more expensive it is the more your insurance is going to be so yes if you have a sports car that's a fifty thousand dollar sports car it is going to cost more but if your sports car comes from about 1980 Something and is not that valuable anymore you probably may not even want to ensure the physical damage but if you do it's going to be very low physical damage is all about the value the existing value of that vehicle and as we know as soon as you drive it off the lot the value of it does go down so over the course of years your physical damage on that vehicle will go down so think of luxury cars high-valued sports cars high performance cars those are all expensive cars those will cost more than your regular sedans your Coupes or you know some of those hand-me-down cars that that have worked their way down through the family this has been Dan Whedon today we've been talking about cars and the cost of insurance we'll see you next time thank you foreign

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