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Obama Compares SUVs to Model Ts

President Obama grabbed some headlines recently after touring a car plant in California, where he was quoted as saying “The 1908 Model T – think about this – the 1908 Model T earned better gas mileage than the typical SUV in 2008. Think about that:  100 years later, and we’re getting worse gas mileage, not better, on SUVs.”

Some critics have maintained that the President’s comparisons are unfair, as the 1909 Model T was much lighter and less powerful.  Furthermore, the modern-day SUV has a number of features that weren’t even invented in 1909, such as improved safety equipment, emission controls, antilock brakes and more.  Still, the President’s comments echo the way many people feel about SUVs – including your insurance company.  The reality is that you can expect to pay more if you are an SUV owner, not only in gas but in insurance coverage as well.

SUVs and Auto Insurance Costs

If you own an SUV, you can generally expect to pay a higher price for your auto insurance coverage than you would if you had a car.  In fact, research has shown that SUV coverage costs about 10-20% more than the coverage for other automobiles.  This is largely because SUVs are so large and powerful, which means you will cause more damage to the other vehicle if you are in an accident than you would if you were driving a car.  Since this means your insurance company will have to pay out more to make the necessary repairs, your insurance rates are increased.

Guzzling Gas in Your SUV

SUVs will also hurt your pocketbook when it comes to fuel mileage.  While critics may find Obama’s comparison to the Model T to be unfair, this doesn’t change the fact that most SUVs are far less fuel efficient than most other vehicles on the road.  Although we have recently experienced a huge break at the pumps, gas still is not cheap and paying to fuel up your SUV can become quite costly.  Therefore, if you are in the market for purchasing a new vehicle and finances are tight, you might want to avoid purchasing an SUV.