Strategies to Take When Your Car Is Not Covered by Insurance

Insurers often charge more for certain types of vehicles. But can they say no to insuring you just because of the car you drive? According to experts, the answer is yes. Insurers don’t want to take risks that might cost them money. For example, they might not cover cars easily stolen in your area. Some insurers might not want to cover you if you have a fancy sports car or a rare collector’s car.

Insurance companies consider many things when deciding what cars to cover and how much to charge. They also consider your overall risk, like your age, gender, driving record, and sometimes your credit score. Where you live matters too. If you live in a busy area with lots of accidents, insurers see you as riskier to insure than someone in a quieter place. And each type of car, whether a powerful sports car or a regular SUV, has its own level of risk.

Easily Stolen Vehicles

In some states, insurers stopped accepting applications for specific model years of Hyundai and Kia cars because they were quickly stolen. People shared videos online showing how to start and drive these cars without the keys.

Insurers may also worry about other car models that often get stolen, especially when combined with specific driver characteristics. For instance, insurers might not want to give you a policy if you’re a high-risk driver with a Corvette. Experts say insurers may also see collector’s items and historical cars as too risky to insure.

According to the National Insurance Crime Bureau (NICB), vehicle thefts in the United States have gone over one million for the first time since 2008. This is because used car prices are high, making theft more tempting. Thieves are also stealing catalytic converters from cars because they contain valuable metals. This can affect your insurance premium or even make it hard to get a policy for specific cars, especially ones like pickup trucks with more ground clearance, which makes stealing parts easier.