The reason insurance for SUVs tends to be higher than for other types of vehicles is because SUVs are generally larger than most cars on the road and therefore inflict more damage when they hit other vehicles. Also SUV’s tend to have less maneuverability than smaller vehicles, which can sometimes make it harder to avoid an accident under tight circumstances. Add in the higher susceptibility of SUVs to rollovers and it’s no surprise that SUV insurance can cost up to 20% more than the average. Fortunately there are steps you can take to help bring those premiums down as low as possible:
Raise Your Deductible
The higher your deductible the lower your insurance rates will be, while at the same time enabling you to maintain the same total liability coverage. For example raising your deductible to a thousand dollars from around three hundred can cut your premiums by as much as forty percent! Of course this also means that if you get into an accident you will have to pay more out of your own pocket, but the savings on premiums will probably make it still profitable. Best of all, if you drive carefully and avoid any accidents then the savings are all yours!
Take Advantage of Multi-Policy Discounts
It is quite common for insurance companies to offer discounts to those customers who have more than one policy with them. Something as simple as combining your home and auto insurance policies so that both fall under the same insurer can save you as much twelve to fifteen percent on each.
Take Advantage of All Discounts
While the bad news is that SUV’s come with extra insurance expenses, the good news is that the discounts that come with any vehicle insurance regardless of model are usually also available to SUV owners. Most insurers give automatic discounts to drivers who install safety and anti-theft devices. If you have a good driving record that can also lead to lower premiums. These discounts are usually not large, but they do add up.
Compare and Contrast
Like with any other product, there is simply no substitute for shopping around. Companies can vary widely in determining what they consider the enhanced risk of SUVs to be worth, and it can be surprising to discover how much variance there can be. The best way to get the best buy is to go looking for it, and with virtually all insurers having websites these days you may not even have to leave your house to find the best buy.