There are a variety of factors that come into play when determining the insurance rates for your vehicle, from your driving history to your zip code. However, the make and model of your car can also impact your auto insurance premiums. Here’s what you need to know from Cross Creek Insurance about how your vehicle’s make and model can affect your insurance rates. 

Liability VS Comprehensive Insurance 

Liability insurance covers any damage or loss you may inflict on other people or property in the event you are deemed at-fault in a covered event. It is the bare minimum of insurance required by law in Hope Hills, NC, and your make and model of the car will not affect the premium. Liability insurance covers other people’s vehicles and property, not yours. If you are involved in an accident, it doesn’t matter whether you drive an older car or a newer one, because the policy won’t pay for damage to your vehicle. 

If you have comprehensive insurance coverage, when you are involved in a collision, your Cross Creek Insurance collision insurance policy will cover the value of your vehicle. So, driving an older, less expensive vehicle will cost more to cover than a newer, more expensive model. 

Other Factors Involving Make and Model

The make and model of your vehicle typically doesn’t have as much impact on liability premiums compared to other factors such as your driving history, however, the exception is that driving a big, boxy vehicle in Hope Hills, NC can, simply due to the fact that their size and weight can cause more damage to other cars and property.  

Here are some other reasons your vehicles make and model can affect your premiums: 

• More valuable vehicles are more costly to insure 
• Luxury, high-end makes are more expensive to find parts for repairs 
• Certain manufacturers and models offer more personal protection such as anti-lock brakes 
• Certain makes and models are involved in more accidents 
• Makes and models without certain theft-protection features have higher theft rates 

For more information about other factors that may have a significant impact on your auto insurance premiums, call Cross Creek Insurance today!