Car insurance: You can't drive without it, so it's in every driver's to find the best coverage that suits their needs. It's commonly understood that newer, more expensive cars deserve greater protection, while older, clunkier vehicles don't as their monetary value has decreased with time.

While the vehicle model isn't the only factor that determines the cost of car insurance — credit score, driving record, gender, age and others are also considered — it is a critical component of the equation. The risks that come with certain vehicles, like the cost of repair in the event of an accident, cannot be justified without a higher costing rate of insurance.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].