Why is Insurance More?

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I get this question all the time....First off what coverage do you have on the '81 Ford?? and the reason it may be a little more expensive is because the ford is a 2 door and those are considered a sporty vehicle which are always going to be a little more and two you have obviously added on extras..the 1996 ...is it a four door?? four door vehicles are considered family type vehicles..or sedans they are always going to be somewhat cheaper..and two the engine on the 81 ford is what is causing it to be more..when we do quotes the system will always ask the cylinders and stuff..or the VIN will match it..something to keep in mind...some factors that effect the premium is cylinders...year of the vehicle..4 or 2 door..engine size..color..and any modifications and of course any safety features..like anti-lock brakes..air bags..ect
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Seems a bit strange. Seems like your daily driver would be rated higher if you are using it go back and forth to work and the other would be pleasure. I used to be in the insurance business (got out!) and there are different factors when it comes to rating. I will take a stab at it, but not "seeing" your policy coverages in front of me on each vehicle it is hard to tell. On the physical damage coverages known has Collision and Comprehensive (other than collision) your vehicle is often assigned a rating symbol. The higher that number is, the higher the premium. Could be that the LTD has a higher rating symbol? If the motor is high performance for that car, they can get you there. If parts are harder to get (since it is older) that can play a factor. Also check your deductibles and make sure they are the same for each vehicle. That is if you are carrying those coverages on both vehicles. Now for the liablility part. If anyone in your household has had any type of moving violation or accident, surcharges can be placed on the driver of that vehicle resulting in a higher premium. If there is one driver and 2 vehicles, the surcharge is placed on one. Usually the highest rated vehicle since Insurance companies LOVE to get the most premium. I am not saying that any of these scenarios are the cause of your differing rates, but those are some factors that will result in rate changes. Also, make sure what the use of the vehicle is being rated for. Maybe they have your Pontiac as pleasure and your other as to and from work? Maybe the best thing to do is sit down with your insurance agent and go over your coverages. Or if that does not work, shop your insurance around. I do not know how things are done in your State, but I have tried to give the advice based on how it is done in my State. Hope this helps some....Show more

There are three possible reasons: 1. the Ford is valued at a "stated amount" or "customizing equipment" charge - resulting in additional premium 2. the symbol on that old Ford is just significantly higher than the Pontiac (and I highly doubt that, from my memory, which is getting worse every day) or 3. the vehicles are classified differently - assuming you're the only driver - that the Ford is classified as your daily driver, and the Pontiac is pleasure use only....Show more

Car insurance has two main parts, liability and collision. Liability is based on how much damage your car can do to other cars. Collision is based on how much it costs to fix your car. I expect the LTD to be high in the liability side because of no anti-lock brakes and that it is a tank. If it gets a dent, the insurance company will just total it and give you $500....Show more

You would have to ask your insurance company to get the real answer, but my guess is that the '81 would be much more expensive to repair or replace than the '96. Also the bigger engine and higher performance may relate to higher risk of accident....Show more