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Standard personal vehicle insurance has grown over recent years to conform with mainstream America and its driving habits. From the family car and truck, to mini-vans and sport utility vehicles (SUV), insurance companies have different computations for calculating annual premiums.
Different states also have variations on personal vehicles. For example, a vehicle may be considered a high risk sports car in one state because it has only two seats, while another state doesn’t consider it a sports car due to a low horsepower. These variations create substantial difference on rates between states.
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What Affects the Cost of Insuring Personal Vehicles?
Minute details, such as the letters on the back of your personal vehicle next to the car’s name, such as LE, LX, SLE, etc., can have a large impact on your insurance premiums, as the replacement costs will be higher for a more luxurious vehicle or a vehicle with added options. For example, power windows cost more to replace than hand crank windows. On the other hand, anti-lock brakes cost more up front, but lower your insurance premium due to their high performance and control in an accident.
If your car is considered a “High Theft Risk”, again varying from state to state, your basic comprehensive coverage could be higher than on a similar vehicle or in a different state. So be sure to talk to your insurance agent about the different options available to you, including a higher deductible, to reduce your annual premium.
For more information on different types of vehicles, browse the follwoing pages:
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**Auto Insurance Finder is not an insurance broker or carrier. Content on this site is for comparison and informational purposes only. The products and services listed on this site may not be available in all states.
Last Updated: April 09, 2009
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