Larger vehicles, including trucks and SUVs, are generally more expensive to insure. However, small crossover SUVs have some of the cheapest rates, even compared to compact vehicles. SUVs are generally cheaper to insure than a sedan, but it depends on the size of the SUV and the sedan you compare it to. You may be surprised that certain SUVs are cheaper to insure than other vehicles, including sedans.
This observation often depends on the size of SUV you want to buy. Not surprisingly, certain brands, models, and brands are cheaper than others. Because of this, in some cases, the sedan will be cheaper to insure. Minivans and small SUVs are, on average, the least expensive cars to insure compared to other vehicles.
Plus, large sedans have the most expensive car insurance in the industry. You have the option to increase the IDV when purchasing or renewing your car insurance policy. However, increasing the IDV will increase the premium. Similarly, reducing the IDV will lower the premium, but that will reduce the amount of your claim.
Therefore, it is not true that all SUVs are more expensive to insure than sedans, since the insurance premium depends on the approximate market value of the vehicle and is not based on the type of vehicle. From small cars to luxury sedans and SUVs, they come with different engine capacities, designs, accessories, etc. If you've always driven sedans out of fear of higher insurance premiums, you might be surprised to find that not all SUVs have a higher insurance price. If you weigh benefits and cost in the sedan versus SUV insurance debate, it's worth knowing which vehicle will cost the most to buy and insure.
If you're making money with your sedan using it as a commercial vehicle, be prepared to shell out extra money to insure it. Sports utility vehicles (SUVs) have become a credible alternative to sedans, offering the smooth ride and features that the latter boast of. Perhaps, surprisingly, in many cases, an SUV is less expensive to insure than a sedan, but it often depends on the size of SUV you are looking at, as well as the sedan you compare it to. After all, a two-seater sedan with a sports engine is riskier than a Subaru Forester bought by a mother to take her children back and forth between sports.
With the price gap between SUVs and sedans narrowing, the gap in the insurance premium for sedans and SUVs is also narrowing. We analyzed the numbers for SUV insurance rates and found that, in many cases, a compact SUV costs less to insure than a comparable sedan. Before you take the plunge and buy an SUV or opt for a sedan to save on premiums, you need to know how the type of car you drive affects insurance premiums, and you also need to realize that it's not the sole determinant of your premium. You don't have to drive a European SUV to see your premiums go up, insuring a Ford Expedition, Toyota Sequoia or Infiniti QX80 will almost always cost more than a sedan.
If your sedan has an engine with a lower cubic capacity, it will cost less than the one with a higher cubic capacity. The trade logo shown above belongs to ACKO Technology & Services Pvt Ltd and is used under license by ACKO General insurance Limited. However, when it comes to cars that are more beneficial to your liability insurance premiums, cars such as luxury sedans tend to have the upper hand.