Why Is Van Insurance Cheaper Than Car?

1. 

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   Ben Guttman

   Sales Manager, Midtown Insurance Group, Baltimore,MD

   Among the many factors that go into calculating the rate are the safety of the vehicle and the odds of it being a total loss in event of an accident. Often larger vehicles such as vans or SUVs are less of a risk than smaller cars when it comes to that.

   Answered on April 23, 2014

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2. 

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   Darald Novak AAI

   Retired Agent and Broker, Self Employed, Albany NY USA

   Than car what? Many rating factors determine the final premium of auto insurance. One significant factor is the credit profile of the applicant(s) and operator(s) and some carriers will not even quote depending on the bizarre, secret formulas they use. The vehicle, be it van, pickup, SUV, compact, sedan, etc may or may not influence the final premium. This is because a policy with statutory coverages only costs nowhere near as much as one with higher limits. Then add the optional coverages such as physical damage (often called comprehensive and collision) and the rating symbol or value of the vehicle can really drive up the premium - especially for applicants and drivers with surchargeable items and "high potential for claims" credit profiles. This inquiry can be answered most accurately by securing a guaranteed quote.

   Answered on October 20, 2016

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