DENVER -- A new report shows SUV’s and trucks are cheaper to insure than cars.
This, even though SUV’s and trucks tend to cost more than sedans.
InsuranceQuotes.com looked at the 20 most popular vehicles sold this year and got their rates.
The Ford Explorer topped the list of the best insurance deals. But another Ford model, the Focus, scored the worst.
An Explorer is sleek, shiny and about double the cost of a new Focus.
But its insurance is actually cheaper.
“I use to work in trauma. I’m a nurse, so I can tell you a person in a smaller vehicle is going to be messed up a lot more than someone in those big things,” says Mary, who didn’t want to give her last name.
Mary isn’t surprised by an Insurance Quotes report that shows an Explorer that sells for $34,345 costs an average of $1,300 a year to insure. While the Focus at $18,045 costs $100 more at $1,400 annually.
Insurance Quotes used a hypothetical driver of a 45-year-old married woman with a clean driving record, with $100,000 coverage for bodily injury, $100,000 property damage and a $500 deductible.
The best rates went to the Explorer and seven other SUV’s or trucks.
The most expensive rates went to sedans, including Honda Civic, Toyota Corolla and the Focus.
“It’s not necessarily big versus small though. What insurance company is looking at is what is the crash worthiness for that vehicle? How popular is it with thieves and how expensive is it to repair and rebuild?” says insurance industry expert Carole Walker.
She also says rates are highly individualized.
“It’ll still be based on a variety of risk factors: your own risk, your age, where you live and how you drive,” she says.
Mary says by that account, her rates are probably pretty low.
“I’m kind of boring,” she laughs.
Walker recommends going to the Insurance Institute for Highway Safety’s website. It shows how well vehicles of every make and model tested in crashes.