Hatchback Car Insurance

Everyone knows that hatchback cars are economically priced, great on gas and perfect for getting you where you need to go, but many people do not know what they need to know about insuring a hatchback. In the following information, you will learn the basics of hatchback car insurance. 

While hatchback cars are cheaper to buy than most vehicles, they are not necessarily cheaper to insure — but they can be.

Size Does Matter

There are several characteristics of hatchback cars that keep car insurance costs low. For instance, hatchbacks are typically smaller in size than most other vehicles. Because hatchbacks are smaller, hatchback drivers are less likely to cause serious damage to another person, their vehicle or their property, in the event of an accident. Therefore, insurance companies view hatchbacks as less of a risk than say, a massive sport utility vehicle because there is less of a chance that they will have to cover someone else’s expenses, if the policyholder is involved in a collision.

Mr. Fix it

Another factor that affects your car insurance premiums is the cost of repairs for the vehicle — which is good news for hatchback owners. Because of the size, hatchbacks are much cheaper to repair and maintenance than most other vehicles. Therefore, if the car is damaged in an accident — the insurance company does not need to pay a lot of money to get the car fixed. Insurance companies view vehicles that are difficult or expensive to repair as a higher risk, which increases the premium. However, cars that are easily repaired, such as a hatchback — will cost less to insure.

Joy Riding

Insurance companies also look at the probability of the car being stolen. Cars that run a higher risk of being stolen include luxury vehicles, sports cars and convertibles. While hatchbacks make great cars, they are not frequently targeted by thieves who are looking to joy ride. Therefore, insurance rates may be cheaper for hatchback owners because the risk of having the car stolen (and needing to be replaced by the insurance company) is very low. In addition, insurance companies charge higher premiums for sportier vehicles that are preferred by younger drivers (who may have less experience behind the wheel). Younger drivers typically, drive faster, which increases the risk of an accident. In addition, hatchbacks are normally not a teenage driver’s first choice and even if a teen does drive a hatchback, they are not likely to race these cars. Therefore, insurance companies place a lower risk on these cars because they are not typically used for joy riding.

Hatchback cars are still a popular choice for smart consumers because not only are they cheaper to purchase than most vehicles, but the repair costs and insurance premiums are typically lower, as well. If you own a hatchback or are interested in purchasing one, it is a good idea to shop around for the cheapest insurance. Comparing rates for your hatchback is a great way to get an economically priced vehicle with super, cheap insurance rates.

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