Car Insurance for SUVs: What You Need to Know

Sport utility vehicles (SUVs) are among the most popular types of vehicles in the United States. According to Statista, SUVs accounted for 47.4% of the U.S. light vehicle market share in 2020, surpassing sedans, pickups, and minivans. SUVs are appealing to many drivers because they offer more space, comfort, versatility, and performance than other vehicles.

However, owning an SUV also comes with some challenges, especially when it comes to car insurance. Depending on the size, model, safety features, and cost of your SUV, you may pay more or less than the average car insurance rate in the U.S., which is $1,674 per year for full coverage. In this article, we will explain what factors affect your car insurance rates for your SUV, what are the benefits and drawbacks of insuring an SUV, and how to find the best car insurance policy for your needs.

How much does car insurance for SUVs cost?

The cost of car insurance for your SUV depends on several factors, such as:

• The size and model of your SUV
• The safety features and ratings of your SUV
• The cost of repairs and parts for your SUV
• Your driving history and location
• Your coverage limits and deductibles
• Your discounts and claims

Average rates by vehicle size and model

Generally speaking, smaller and cheaper SUVs tend to have lower car insurance rates than larger and more expensive ones. This is because smaller SUVs have lower repair costs, lower theft rates, and higher safety ratings than larger ones. For example, according to ValuePenguin, the cheapest SUV to insure is the Honda CR-V, which costs about $2,346 per year to insure. On the other hand, the most expensive SUV to insure is the Ford Explorer, which costs about $3,587 per year to insure.

However, the size and model of your SUV are not the only factors that determine your car insurance rates. Some SUVs may have higher or lower rates than others within the same size category, depending on their specific features and performance. For example, a luxury SUV like the Tesla Model Y or the Range Rover SV may have higher rates than a standard SUV like the Toyota RAV4 or the Chevrolet Equinox, because of the higher cost of repairs and parts, the lower availability of qualified mechanics, and the higher risk of theft.

How to find the cheapest car insurance for SUVs

The best way to find the cheapest car insurance for your SUV is to compare quotes from different insurance companies. You can use online tools like Way.com to compare quotes from different insurers and buy the most affordable insurance policy for your SUV. You can also use websites like Bankrate or Car and Driver to find out which insurers offer the best rates for different types of SUVs.

Another way to find the cheapest car insurance for your SUV is to take advantage of discounts and savings that may be available to you. Some of the common discounts that you may qualify for are:

• Multi-policy discount: If you bundle your car insurance with other types of insurance, such as home, renters, or life insurance, you may get a lower rate.
• Multi-car discount: If you insure more than one vehicle with the same company, you may get a lower rate.
• Safe driver discount: If you have a clean driving record and no claims for a certain period of time, you may get a lower rate.
• Good student discount: If you are a student or have a student driver in your household who maintains good grades, you may get a lower rate.
• Safety feature discount: If your SUV has advanced safety features, such as anti-lock brakes, airbags, blind-spot detection, or rear cross-traffic alert, you may get a lower rate.
• Low mileage discount: If you drive less than a certain number of miles per year, you may get a lower rate.
• Pay-per-mile discount: If you opt for a pay-per-mile insurance plan, where you pay based on how much you drive, you may get a lower rate.

What are the benefits of car insurance for SUVs?

Car insurance for SUVs provides several benefits that can protect you and your vehicle in case of an accident or other mishap. Some of the benefits are:

Safety features and ratings

SUVs are generally safer than other types of vehicles because they have more space, higher ground clearance, better visibility, and more stability. They also have advanced safety features that can help prevent or mitigate collisions, such as anti-lock brakes, airbags, blind-spot detection, rear cross-traffic alert, lane departure warning, adaptive cruise control, and forward collision warning. These features can not only protect you and your passengers from injuries and damages but also lower your car insurance rates by reducing the likelihood and severity of claims.

SUVs also have high safety ratings from organizations like the Insurance Institute for Highway Safety (IIHS) and the National Highway Traffic Safety Administration (NHTSA). These ratings measure how well a vehicle performs in various crash tests and how well it protects its occupants from harm. The higher the rating, the safer the vehicle. For example, according to IIHS, some of the safest SUVs in 2020 were the Mazda CX-3, the Hyundai Kona, the Subaru Forester, and the Volvo XC40.

Liability and collision coverage

Liability and collision coverage are two types of car insurance that are mandatory in most states. Liability coverage pays for the damages and injuries that you cause to other people or property in an accident. Collision coverage pays for the repairs or replacement of your own vehicle in an accident. Having these types of coverage can protect you from financial losses and legal consequences if you are involved in an accident with your SUV.

SUVs can benefit from having liability and collision coverage because they are heavier and more powerful than other vehicles. This means that they can cause more damage and injuries to others in an accident. It also means that they can sustain more damage themselves in an accident. Having adequate liability and collision coverage can help you cover these costs and avoid paying out of pocket.

Comprehensive and gap coverage

Comprehensive and gap coverage are two types of car insurance that are optional but recommended for SUV owners. Comprehensive coverage pays for the repairs or replacement of your vehicle in case of non-collision events, such as theft, vandalism, fire, flood, hail, or animal damage. Gap coverage pays for the difference between what you owe on your vehicle loan or lease and what your vehicle is worth at the time of a total loss.

SUVs can benefit from having comprehensive and gap coverage because they are more expensive and more attractive to thieves than other vehicles. This means that they have a higher risk of being stolen or damaged by non-collision events. It also means that they have a higher depreciation rate than other vehicles. Having comprehensive and gap coverage can help you cover these costs and avoid paying more than what your vehicle is worth.

What are the drawbacks of car insurance for SUVs?

Car insurance for SUVs also has some drawbacks that can make it more expensive or less convenient than car insurance for other vehicles. Some of the drawbacks are:

Higher repair costs and premiums

SUVs are more expensive to repair than other vehicles because they have more complex parts, more advanced technology, and more specialized mechanics. For example, according to CarMD, the average repair cost for an SUV in 2019 was $920, compared to $861 for a sedan and $794 for a minivan. These higher repair costs can translate into higher car insurance premiums, as insurers charge more to cover these expenses.

SUVs also have higher premiums because they have higher liability limits than other vehicles. Liability limits are the maximum amount that your insurer will pay for the damages and injuries that you cause to others in an accident. The higher the limit, the higher the premium. SUVs have higher liability limits because they can cause more damage and injuries to others in an accident, as we mentioned earlier. For example, according to Insure.com, the average liability premium for an SUV in 2020 was $611, compared to $587 for a sedan and $568 for a minivan.

Higher risk of rollovers and thefts

SUVs are more prone to rollovers than other vehicles because they have a higher center of gravity, a narrower track width, and a longer wheelbase. Rollovers are one of the most dangerous types of accidents, as they can cause severe injuries and fatalities to the occupants of the vehicle. According to NHTSA, rollovers accounted for 35% of all passenger vehicle fatalities in 2010, and SUVs had the highest rollover rate among all vehicle types.

SUVs are also more likely to be stolen than other vehicles because they are more valuable and more in demand. According to NHTSA, SUVs accounted for 19% of all vehicle thefts in 2019, and luxury SUVs had the highest theft rate among all vehicle types. According to Forbes, some of the most stolen SUVs in 2019 were the Land Rover Range Rover, the Cadillac Escalade, the GMC Yukon, and the Infiniti QX80.

Environmental impact and fuel efficiency

SUVs are less eco-friendly and less fuel-efficient than other vehicles because they emit more greenhouse gases, consume more gasoline, and occupy more space. According to EPA, SUVs emitted an average of 436 grams of carbon dioxide per mile in 2019, compared to 359 grams for sedans and 373 grams for minivans. SUVs also consumed an average of 21 miles per gallon in 2019, compared to 28 miles per gallon for sedans and 23 miles per gallon for minivans.

SUVs also take up more space than other vehicles, which can contribute to traffic congestion, parking difficulties, and urban sprawl. According to Edmunds, the average length of an SUV in 2019 was 187 inches, compared to 177 inches for a sedan and 182 inches for a minivan. The average width of an SUV in 2019 was 76 inches, compared to 71 inches for a sedan and 74 inches for a minivan.

Car Insurance FAQs

Here are some of the most frequently asked questions about car insurance for SUVs:

Do I need car insurance for my SUV?

Yes, you need car insurance for your SUV if you want to drive it legally on public roads. Car insurance is mandatory in most states, except New Hampshire and Virginia, where you can opt out by paying a fee or posting a bond. However, even if you live in these states, it is highly recommended that you get car insurance for your SUV to protect yourself from financial losses and legal consequences in case of an accident.

How can I lower my car insurance rates for my SUV?

There are several ways you can lower your car insurance rates for your SUV, such as:

• Shopping around and comparing quotes from different insurers
• Choosing a smaller and cheaper SUV with high safety ratings
• Installing anti-theft devices and tracking systems on your SUV
• Driving safely and avoiding accidents and violations
• Raising your deductibles and lowering your coverage limits
• Taking advantage of discounts and savings offered by your insurer
• Paying your premiums annually or biannually instead of monthly
• Improving your credit score and maintaining a good payment history

What are the best car insurance companies for SUVs?

The best car insurance companies for SUVs are the ones that offer the best coverage, service, and price for your specific needs and preferences. However, some of the most popular and reputable car insurance companies for SUVs are:

• Progressive: Progressive offers low rates, discounts, and customized coverage for SUVs. It also has a pay-per-mile program called Snapshot that can help you save money based on how much you drive.
• GEICO: GEICO offers competitive rates, discounts, and online tools for SUVs. It also has a high customer satisfaction rating and a strong financial strength rating.
• State Farm: State Farm offers comprehensive coverage, discounts, and local agents for SUVs. It also has a usage-based program called Drive Safe & Save that can help you save money based on your driving habits.
• Allstate: Allstate offers quality coverage, discounts, and rewards for SUVs. It also has a usage-based program called Drivewise that can help you save money and earn cash back based on your driving performance.

How often should I compare car insurance quotes for my SUV?

You should compare car insurance quotes for your SUV at least once a year or whenever you experience a major life change, such as:

• Buying or selling your SUV
• Moving to a new address or state
• Getting married or divorced
• Adding or removing a driver from your policy
• Changing your driving habits or mileage
• Renewing or switching your policy

Comparing car insurance quotes for your SUV can help you find the best deal, save money, and avoid overpaying for your coverage.

What are some tips for driving an SUV safely?

Driving an SUV safely can help you avoid accidents, injuries, damages, and claims that can increase your car insurance rates. Some of the tips for driving an SUV safely are:

• Adjust your seat, mirrors, and steering wheel to have a comfortable and clear view of the road
• Check your blind spots and use your turn signals before changing lanes or turning
• Keep a safe distance from other vehicles and brake gradually to avoid rear-end collisions
• Avoid sudden steering or braking maneuvers that can cause rollovers or skidding
• Use low-beam headlights and fog lights in low-visibility conditions
• Park carefully and use a backup camera or sensors to avoid hitting obstacles or pedestrians
• Maintain your SUV regularly and check your tires, brakes, fluids, and lights before driving

How does leasing or financing an SUV affect my car insurance?

Leasing or financing an SUV can affect your car insurance in several ways, such as:

• Increasing your coverage requirements: If you lease or finance your SUV, you may be required by your lender or lessor to have higher liability limits and full coverage (collision and comprehensive) on your policy. This can increase your car insurance rates compared to having minimum liability coverage only.
• Increasing your coverage options: If you lease or finance your SUV, you may want to consider adding gap coverage or new car replacement coverage to your policy. These types of coverage can help you pay off your loan or lease balance if your SUV is totaled in an accident. This can save you from paying out of pocket for the difference between what you owe and what your SUV is worth.
• Increasing your deductible options: If you lease or finance your SUV, you may have more flexibility in choosing your deductibles for collision and comprehensive coverage. A deductible is the amount you pay before your insurer pays for the rest of the claim. Choosing a higher deductible can lower your car insurance rates, but it also means that you will pay more in case of a claim.

Conclusion

Car insurance for SUVs is a complex topic that involves many factors, benefits, drawbacks, and questions. However, by doing some research, comparing quotes, choosing the right coverage, taking advantage of discounts, and driving safely, you can find the best car insurance policy for your SUV that suits your needs and budget.