Does The Type Of Car Affect Insurance?
16470 POINTSview profileDavid OsgoodAgent, Rural Mutual Insurance Co., Union Grove, WIYes, in most cases. Type of vehicle is just one of many factors that are used in determining your auto insurance premium rate. Each vehicle will have its' own rating factors as determined by the agencies that provide safety data and other vehicle specifications that affect the vehicles repair and valuation amongst other factors.Answered on August 21, 2013flag this answer
37376 POINTSview profileDavid G. Pipes, CLU®, RICP®Business Development Officer, T.D. McNeil Insurance Services, Fresno, CaliforniaActuaries sift through a great deal of data to locate those things that will predict future losses. Certain cars have a higher incidence of losses, they are rated based upon that information. This process is not a prejudicial action but a mathematical one. Occasionally a type of vehicle will have a horrendous loss experience because it might be difficult to match parts or the car is so rare, in which case the companies can deny coverage.Answered on July 9, 2014flag this answer
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