Why do some car models cost more to insure than others?

By HUB SmartCoverage Team on December 8th, 2017

Insurance companies calculate your insurance premiums based on the level of risk that you pose as a customer. And, while your driving record and habits play a large part in this equation, so does the car you chose to insure. Put simply, the higher the risk your car poses, the higher your auto insurance premiums will be. Here are some factors that can cause your vehicle to be classified as higher risk.

Safety rating

Since, as mentioned above, the level of risk your car proves to have, the higher your premiums can be, it only makes sense that the safety rating of the vehicle you are trying to insurance plays a major role. Simply put, the safer the car is, the less you will have to pay for your auto insurance. This safety rating is a big thing to keep in mind when buying a new car. If you do have a car that is considered to be higher risk, there are sometimes safety features that you can have installed that will get you a discount on your premiums.

Possibility of theft

Much like the safety rating, the theft rating is a major factor in evaluating your vehicle’s risk. Keep in mind that it is not just the expensive and flashy cars that fall victim to theft, but also those which are more common, and easier to steal. A good way to check up on the theft rate of your vehicle or of a vehicle that you are looking to buy is to look at the IBC website. Every year the Insurance Bureau of Canada puts forth a list of the most stolen vehicles in Canada, which they break down by province.


You’ve probably heard it said that red cars are more to ensure than others. Well, that statement specifically doesn’t exactly hold any water, but the notion is correct. While paint colour does not impact your insurance premiums, a number of other features can cause your premiums to rise. This ties partially into the theft factor, as “flashy” cars can be a great target for thieves. Aside from the theft rate, flashy cars can also give the notion that the driver may be one of high-risk. Flashy cars tend to say that the driver may be a little more reckless on the road. While this is not always the case, think of how many times you have seen a flashy sports car speeding down the highway, or revving its engine and showing off?

Repair costs

Some cars are inherently more to repair than others. Whether that is due to rare or expensive parts or the notion that it takes speciality mechanics to work on the vehicle. Foreign and luxury cars tend to fall victim to this often, as parts are harder to come by, and the repairs require special expertise than say a commonplace Honda Civic.

No matter what kind of vehicle you are trying to ensure, it is always best to shop around to find the best possible price for the coverage you require.

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