American culture attributes the car we drive to our persona – defining our values, our sense of style, and to some extent, our eccentricities. It’s the reason that Corvette owners wave to each other, and why everyone feels the need to catch a look to see who’s driving the Hummer. In the same manner, the car we drive also determines how much we pay for car insurance. Easily an afterthought to the monthly car loan payment, many owners are “car-broke” because of their insurance costs and don’t even know it.

Are you driving one of the most expensive cars to insure?

Factors That Determine Car Insurance Rates

There are a handful of factors that determine how much a person pays for insurance, including gender, age, driving record, location of residence, annual driving mileage, credit scores (in most states), and most importantly, the car we drive. Although common-sense holds that the more expensive a car, the more expensive the insurance, this is not always the case. Insurance rates differ greatly between makes and models. If a car performs well in crash tests, it’s not frequently stolen, and has additional safety or anti-theft devices, it will generally cost less to insure it. On the other hand, if your car is flashier, attractive to thieves, and doesn’t wow anyone in the crash tests, it will cost more to insure.