2022 Cars – Insurance Premium
Who doesn’t want a new vehicle? Especially some of the newer 2022 cars coming up for release. If you are looking for a new vehicle, there are some things to keep in mind when it comes to insurance – but first, let’s check out some of the 2022 cars.
2022 Cars
Premium Consideration for 2022 Cars
Price
There is a good chance that the more you pay for your vehicle, the more you will pay in premium. Why? It would take more money to fix or replace your car in the case of an accident or theft. If you were driving a 2010 Toyota tundra & decide to upgrade to a 2022 Toyota tundra – chances are your premium will increase as newer cars simply cost more to insure.
Costs
Something to think about when it comes to repairs is car parts. There are variations between the base model and the high-end model that can cause differences in rates based upon repair costs. Also, depending on the manufacturer of the car, they may use specialized materials that drive up costs.
Another thing that is very cool and up and coming is electric vehicles, like the 2022 Ford Lightning. However, because they are so new and parts cost more, your premium will be higher.
Type of Vehicle
The type of vehicle you drive can also affect the premium. Larger vehicles like SUVs, such as the Jeep Grand Wagoneer, will do more damage to a third party in an accident than a small compact car.
Safety
The great thing about the newest 2022 cars, is the built-in safety features. The safer the vehicle, the less chance for injury for you and your passengers and less chance of paying costly medical bills. For example, the 2022 Acura MDX has a driver-assist feature called AcuraWatch. The car will give you a forward collision warning, automatic emergency braking, lane departure warning, lane-keeping assist, road departure mitigation, a blind-spot information system, and rear cross-traffic alert. Safety features are great on vehicles, but also very costly to repair after an accident.
Theft
As parts become scarcer for vehicles, theft is becoming more commonplace. Make sure that when you purchase insurance you buy physical damage coverage on your new vehicle, also known as comp and collision coverage. In the event your car is stolen, the insurance company will pay to have it replaced. When it comes to premiums, the insurance companies will look at how likely that specific vehicle is to be stolen. The ones that are more likely will go up in premium. According to Bankrate, “Full-size Ford pickup trucks are the most likely cars to be stolen across the U.S., taking the top spot as “most stolen” in 19 states and “second-most stolen” in 13 states.” So if you are looking into the 2022 ford maverick or 2022 ford lightning – that may be something the insurance company will consider.
2022 Cars Recap
There are plenty of variables that go into determining the auto insurance premium, and if you want to learn more, check out that post here. So if you are looking into 2022 cars, good for you! However, now you know what insurance companies take into account when determining premiums. If you are contemplating how much premium will be before you purchase a vehicle, reach out at team@thamsagency.com.