Car Psychology: Why people choose the car they chose, and how the car affects auto-insurance
Ever wondered why a 55-year-old man suddenly realizes that he needs a sports car, instead of the Honda Odyssey that they have been driving for years? How about why a person would be in tremendous debt just to buy something that depreciates over time? How about why Tiffany decided to buy a Prius, instead of a Mercedes. In this article, we will dive into why people choose the car they chose, and why these types of cars increase the price of your auto insurance.
Status, the Great Salesman
To begin with, let us talk about status. Let us dive in the interesting topic of social hierarchy, and why the need to prove your status is now on steroids because of social media. Cars have become an extension of a person. People then judge how a person is living by the car they are driving, and in terms of Darwinism, the uglier the car you have, the more likely it is that you would not continue your lineage. Of course, that is an exaggerated take on it, but it has some truth to it. The more prestige your car is, the more attractive you become. In a study done by Michael J. Dunn and Robert Searle, they found that women rated the same male more attractive when shown a picture of him next to a prestige car, than a regular car. Now I know what you are thinking, women are superficial; A car should not even help on how attractive a guy is, it should be his personality that helps not material things! But it is primal, women perceive man with a higher status as someone to invest in. It is a timeless question that is answered “can he provide for the family?” Consequently, this also answers why a “mid-life crisis” equates buying a sports car. A car provides a person with confidence, especially when a person is having a crisis. It hacks their place in the social hierarchy, especially when their confidence wanes out. Cars affect a person’s status, for better or for worse. In this era, people can hack their perceived status, especially with material things. People will rent a sports car just to show off to their adoring fans online that they have money, even though they do not. That is why status is one strong motivator of why people choose the car they choose. In addition to the attraction, a car can also represent what a person’s values are. Let us begin with the people who truly value the environment. What better way to represent that a person is environmentally conscious than driving an electric car? For example, California has been proactive when it comes to the environment which equates that most of the people that live there are environmentally conscious. That is why California is leading the way in electric vehicles. Then we have the people who drive the pickup trucks that you need a ladder to get into. A professor of psychology at the University of Houston stated that people who purchase and choose a pick-up truck is “compensating for a lack of power somewhere.” These examples further reinforce the statement that a car is an extension of the person, it is a way for people to express themselves.
How your car affects your auto-insurance
Now let us talk about why your choice of car affects your auto insurance. Sports cars, in particular, tend to increase the premium. First, let us talk about the car itself, insurance companies are generally looking at how much it is going to be to fix the car when something happens. The higher the price of the car is, the more the premium is going to go up. In addition, the more difficult it is to replace the parts are to fix, the higher your premium is going to be. Moreover, the components inside the car also affect how the insurance companies will perceive your car. Cars with high tech equipment, tend to be a strong indication of a higher premium. Which makes Tesla the second highest car to insure. Given its expensive battery, and prestige technology, insurance companies tend to be more cautious with their policies when it comes to electric cars. Electric vehicles cost more to repair, which in turn hurts the company. On average electric cars are ticketed 21% higher than gas cars when it comes to auto insurance. In addition, auto insurance companies also look into the probability of you getting into an accident, because of your new sports car. The faster it can go, the higher your premium is going to be. This is why the Nissan GT-R has the highest price tag when it comes to insurance. The car was meant for speed and with speed, safety goes down, regardless of how good the driver is. Furthermore, having a convertible will also cost you more money. Due to its unique ability to make the roof of your car disappear, it is more inclined to be damaged, vandalized and stolen.
You may be second-guessing your decision on whether or not you want that sports car, or if you should save the world and choose an electric vehicle. We understand, it is expensive to have nice things, but there is a way to save money when it comes to insuring your new toy.
Come to us
Here at Russell Insurance, we will find the best possible way you can have the car that you deserve. We are a family-centered insurance agency, and we will help you save money on auto insurance while driving the car you want. We are independent brokers, which means we are not tied to one insurance company. We have the ability to look for the best options for you. There are multiple ways to save money, and we will intricately design a plan for you to do so. In addition to auto insurance, we also provide multiple products and services that include home insurance, renter insurance, and life insurance. Looking for a plan is stressful, and time-consuming, that is why you can leave it to us! Furthermore, we also provide financial services. We can assist you with your financial needs, and even save you thousands when you switch to an electric vehicle! CONTACT US NOW AND FIND OUT WAYS TO SAVE MONEY! We are located at 2507 Sheridan Street, Hollywood, Florida 33020.