1. 2777 POINTS
    Terry A. McCarthy, CLU, ChFC
    President, Insurance Associates Agency Inc., West Chester, OH
    There is no more reason for a "smart car" to cost more than other cars of similar value or performance characteristics. That said, all cars are measured against the original actuarial expectations and when that experience deviates from expectatiions, the pricing for any car is adjusted upwards or downwards based upon this accumulated experience.
    Answered on November 30, 2015
  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Not necessarily, no. In fact, some companies charge higher premium for larger vehicles such as large SUV's, vans or pickups. These larger vehicles can cause much more damage to people and property than can smaller, ligher vehicles so the liability portion of the policy would be proportionally more expensive than for a smaller one. As for the physical damage portion of the policy, namely Comprehensive and Collision, as my colleague stated earlier, the rate a company charges is based more upon their loss experience with a vehicle than it's relative size and weight. I have not seen a situation where a smaller vehcle receives any sort of a premium surcharge.
    Answered on December 1, 2015
  3. 7647 POINTS
    Mark Bartlett CLCS
    Branch Owner, TWFG Insurance Services, Fremont California and the Greater Bay Area Representing Dozens of Insurance Carriers
    Rating factors go far beyond just the vehicle you drive. Location of where the car is garaged, driving record, age, marital status all come into play when considering rates. Not to mention potential discounts you may qualify for. Many new so called safer cars can be very expensive to insure simply due to the fact they blow apart into many pieces to save your life.
    Answered on January 7, 2016
  4. 29 POINTS
    Igor Sekuloski, CIC, CPIA
    President / CEO, Insurox Group Inc, Garfield, New Jersey
    The answer to this question is yes. The cost of the insurance premium is higher because the value of the "Smart vehicle" is higher and the cost to repair. Usually the parts cost more and the labor as well. Not all repair shops have technique and knowledge to repair "Smart Vehicles".
    Answered on April 5, 2016
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