Mini Vans are a popular transportation choice for many families since they are among the least expensive types of vehicles for which to obtain the mandatory automobile insurance coverage mandated by every U.S. state. While luxury automobiles and sports cars can easily run over $3,000 in annual insurance expenditures, the average cost to insure a mini van is $1100. An insurance industry study found that the least expensive mini vans to insure included the Toyota Sienna LE, the Dodge Grand Caravan SXT, the Jeep Compass Sport and the Jeep Patriot Sport.
The kind of individual who tends to choose a mini van as their main vehicle is a contributing factor to mini vans being the most affordable car to insure. Parents with children who want safe and reliable transportation are among the leading customers of this popular automobile category and are viewed by insurance companies as being in a lower risk category for their driving habits and accident rates. Insurance companies can offer more moderate premium rates for mini vans because statistics prove that their risk of actually having to pay out money in accident claims involving this type of vehicle is greatly reduced.
Another reason why automobile insurance tends to be less expensive for mini vans than other car categories is that mini vans offer more protection because of their size for drivers and passengers who do get involved in accidents. In addition, unlike SUVs which are comparable in size, mini vans perform better on the road and have not demonstrated the same ease of rolling over in crashes that often happen with SUVs. Insurance companies rate mini vans as being safer to drive in addition to causing less serious injuries if a collision does occur. In the past several years, all mini vans have begun featuring airbags on front, back and side panels for additional safety. This means that insurance companies have a lower risk factor of having to pay extensive medical claims for personal injuries sustained in accidents and they can pass along their savings to their customers in the form of lower insurance rates.
Other Factors Impacting Costs
Mini van drivers who have a no-accident driving record for the past three years and no at-fault accident claims can also enjoy additional discounts when applying for automobile insurance. Insuring a mini van and another vehicle in the same household also decreases insurance premiums using a multi-car discount. Teachers and others in unions or professional organizations can often participate in a group discount. When selecting a mini van, choose a model that has a high safety performance rating and includes as many safety and anti-theft features as possible to help obtain the most attractive insurance premium rates.
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