Reader’s Question:

We just moved here in Tulsa, Oklahoma and I’m planning to buy a new car and of course, I have to plan for the auto insurance as well. Is it true that getting a less horsepower car can give me a smaller auto-insurance premium?

Liz

Tulsa, OK

Yes, it’s hard to believe that in some cases in Oklahoma, one of the mechanics behind your insurance premium could be as simple as the engine under your car’s hood. If you own a sports car, you are going to pay much high premiums than somebody who drives a little Honda sedan. This is because statistics have shown you are much more likely to get into an accident and either hurt yourself or someone else. These statistics have resulted to considerably high insurance premiums for sports car owners.

Of course, it doesn’t always depend on your horsepower. Drivers of SUV’s and large trucks are the target of higher prices as well. That’s because when one of these large vehicles gets into an accident it’s much easier to injure someone outside of the vehicle or cause severe damage to some structure. This is one of those things people have to live with when owning larger more powerful vehicles. There are ways to try to lower the cost like finding better quotes online. You may also add safety features like an alarm system.

The only true solution in getting cheap car insurance is to get a smaller car but if you are set on having a larger vehicle, then I would say, go online and get multiple quotes. This would give you an idea of what you are going to pay.