Why insurance premiums are different for SUVs

Author:
Craig Montgomery

With military-like precision, SUVs are rolling down our roads and highways in staggering numbers. From small crossovers to intimidating truck-like behemoths, SUVs have become the go-to vehicles for American families.

In the process, they are pushing the traditional four-door sedan back into the 20th Century.

In fact, automotive research showsSUVs outsold sedans by 2-to-1 in the USA in just the past year. And here’s the most surprising fun fact — Porsche, that sports car icon, now sees its small Macan SUV outsell all its other models combined.

So what’s up here?  What does this shifting landscape mean for my annual premium on auto insurance? And what’s the difference in insurance coverage between my new Jeep Cherokee and my old-school Toyota Camry?

We all believe SUVs are safer. We know they offer more comfort for our families and more space for our stuff. We know they often feature more technology, more utility and, when optioned, the stability of all-wheel drive. And we also know, alas, our fuel economy suffers.

why suv's insurance premiums differ?

Surprisingly, some SUVs are less expensive to insure. (Well, sort of.) Because SUVs offer inherent safety factors, it may cost less to protect against personal injury and medical payments should you or family members become injured in an accident. But SUVs typically cost more to purchase and — because they are larger and heavier than cars — can do more damage. And that means we suggest you carry higher liability limits and collision coverage.

In the end, you will probably pay slightly more to insure your SUV. But as we say in the insurance industry, your mileage may vary.  Montgomery will always recommend the policy you need rather than the one that costs less.

In the end, you will probably pay slightly more to insure your SUV. But as we say in the insurance industry, your mileage may vary. Montgomery will always recommend the policy you need rather than the one that costs less.

AsSUVs are commonly classified as subcompact, crossover, mid-size and full-size, the weight and cost of your rolling living room will go a long way toward determining your annual premium. So does your driving history, deductible choices, your home state and many more factors. 

Yes, your SUV insurance IS different — but to see how, consult with yourMontgomery agent for your no-cost, no-obligation auto insurance quote. Then ask how you can save even more by bundling.  No matter what you drive, we’ll make your protection — and your insurance premium savings — a priority. Call us today at 610-565-8280.

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From the start of your relationship with a Montgomery agent, your insurance strategy is always monitored, always evaluated for efficiency and always subject to a cost-effective adjustment when needed.  It’s why our clients — our friends and neighbors in the Delaware Valley — have invested their trust and faith in us for more than 75 years.

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