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Most state laws require that drivers carry insurance. So as a responsible adult, or at least one looking to save money, you've probably wondered about the most and least expensive cars to insure.
Car insurance rates are based on a number of factors including a driver's experience, past accidents, and where you live. But another factor in terms of liability is the car you drive. So which vehicle is going to incur higher rates?
Wonder no more, since it's easy to find out the answer to this question. The bigger question is what does it mean when state law requires insurance?
All states require that drivers show that they're able to cover a certain amount of damage if they're found liable in a motor vehicle accident. Insurance is a very easy way to do this.
The vast majority of states require drivers to carry a certain amount of insurance mandated by law. The coverage required varies by state, but most major insurance companies will know the minimum required by your state.
You can also easily find out the insurance minimums in your state since the information is freely available.
A small handful of states don't require insurance, but that doesn't mean you don't have to pay. Those states require uninsured drivers to post a large bond or otherwise prove an ability to cover liability in an accident.
Those rates may or may not be based on similar factors to insurance. But in all states, driving without sufficient coverage results in a fine and can lead to a suspended license.
Since you're going to have to get insurance, it's good to know which vehicles won't break the bank. Luckily, a website called Insure.com has produced a list of the five least expensive vehicles to insure.They are:
The list isn't entirely comprised of trusty four-door sedans, but there aren't any flashy sportscar-like options either. It makes sense that these all have inexpensive insurance, reports Forbes.
The most expensive cars to insure on Insure.com's list aren't a surprise either. But it's good to know what will run you top-dollar insurance. The most costly cars to insure are all made by the same company:
Mercedes-Benz models round out eight of the top 10 most expensive cars to insure as well. You certainly have to pay extra for that kind of luxury and power.
Of course, if you're in a position to buy a Mercedes-Benz, or any of the sporty cars in the "most expensive" category, you're probably not concerned about high insurance costs. But at least you'll have that knowledge the next time you're in the market for a new car.
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.
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