When buying a car, taking into consideration the cost of auto insurance is a wise decision. For a family, making the right investment decision is not always easy. For example, large vehicles such as minivans and SUVs tend to cost more than a small passenger car. Which one is more expensive? That depends on a variety of factors.
Overall Savings – Minivan or SUV?
Most commonly, minivans cost less to insure than the average SUV. The key reason for this is size and value. SUVs tend to be more expensive than minivans. As a result, it usually costs more to repair them and to replace them. Should there be an accident, the insurer might pay less (in most cases) to replace the minivan because of its comparable value.
However, there are many other factors that play a role in this. Before you purchase it and car insurance, consider the following.
SUVs Are Heavier and Riskier
SUVs tend to cost more to insure because of their general size. If an SUV wrecks, the weight of the SUV might cause it to create more damage than if a minivan were in the same situation. Minivans may cause less damage because they weigh less. This chance of more damage from the SUV often causes it to carry a higher insurance risk profile.
Onboard Features Matter
There are many situations in which a minivan can cost more to insure. Your auto insurance is specific to the vehicle itself. Here are a few ways the features on your vehicle play a role.
- A larger engine will often be more expensive to insure.
- If you have a lot of tech on board, such as GPS units, dashboards with touchscreens, and built-in cameras, this might increase the costs as well.
- Vehicles with less security tend to cost more to insure. For example, if your minivan has a security system, but an SUV does not, that can impact the cost of coverage.
Also, consider that drivers themselves play a role. Older drivers, those who have less experience and those with violations on their license are typically going to be more expensive to insure. You may find that auto insurance costs vary significantly by this more than anything to do with the vehicle.
If you need car insurance, request a quote for the vehicle you are thinking about buying. This gives you a very specific level of information. That will minimize your risk of not knowing what to expect from your agent when you buy the vehicle. Your auto insurance agent can offer quotes even before you buy the car.