Does the kind of car I drive matter to an insurance company?

Many people don't realize the impact that your type of car as on the amount of your premium. The fact is that the type and value of your vehicle is one of the most important factors, along with your age and driving record.

Say you drive a sports car. You might pay significantly more to insure it if it is a type that is favored among thieves and criminals. Also, statistics indicate that people tend to drive sports cars faster and it may have a higher replacement cost than other models. All of these factors can contribute to you paying a higher premium.