That small car you’re planning to purchase may look “cute” and save money on gas, but when you go online to check for a car insurance quote, that “cute” and gas saver coverage may not be as cheap or affordable as you thought. About that time you become a member in good standing in the Rodney Dangerfield club: No Respect! That said, perhaps it’s time to separate some of the more common “myths” from reality, when it boils down to any type of vehicle insurance.
Less expensive auto insurance for smaller cars are cheaper to insure! The answer is maybe, and it will depend on what is in your policy or not. Some of the minor coverage like uninsured motorist or no-fault insurance along with towing and rental car protection will probably cost the same regardless of the vehicle size.
An automobile insurance quote. Auto insurance quote for any small car purchase will include the “Big 3” – collision, comprehensive, and liability. They’re the three most expensive items on any auto insurance policy. This is where “size” really does matter. Ergo, your vehicle insurance cost could rise exponentially.
However there is one saving caveat in all this frustration as it pertains to small cars or any other size for that matter, and it’s the age of your car. All state DMV’s require only liability coverage, but if the car is new or only a few years old, any sane person will include collision and comprehensive, as well. Yet if you’re driving a vehicle that is 10 years or older, you don’t need collision and comprehensive coverage since the value doesn’t warrant the cost you are still paying. Also, the DMV could care less about you “dumping” either one or both, and you’ll save money in the process.
It’s a fact that smaller and cheaper cars are purchased by those in a lower income bracket, yet are more costly to insure. So it should come as no surprise that larger cars offering more accident protection, will always be on the receiving end of better car insurance quotes.