Why does insurance price matter if the car isn't full coverage?

I don't understand why my insurance on my 2016 Honda hire than my 2002 Honda. Both cars or only liability coverage. I own both. I don't understand.

It is down to how likely you are to crash it.
It also reflects the amount of damage you can do.
Insurance works on probability.

Quite simply, the 2016 model Honda has a much higher value than the 2002 model. Thing about it. Higher the value, higher the insurance coverage cost. That's an insurance industry standard.

Other posters may not get your question. Also you are spelling higher incorrectly.
Interesting question. List the models and engine size.
Do you own both cars? If so then that is not really one being higher than the other, but an allocation of the total price of the policy. A person with two cars, A is 2200 per year and car B is 600 per year. If you the person sold car B, the policy, adding back any multi car discount would be around 2200 per year. If they dropped Car A, the policy would be around 2200 per year.
If you went from car older to car newer, ie only own the new car, the only reason for that might be it is a sports car, or is larger, so causes more damage to other cars?

The insurers will have figures on how likely each car is to be involved in an accident which could result in them having to pay out. They must feel that the 2016 is more likely to produce a claim. This claims experience is just one of many actuarial facts that they use to determine the price

One is at higher risk of causing more damage to someone else's property. Weight, size, model, etc makes a difference.

Ask your insurer to explain.

Put simply, when you use the same insurance company and insure multiple vehicles, then they give you a multi-car discount, which is usually around 10% for 2 and 20% to 30% for 3 or more. Or, if you also have your homeowners/renters insurance with the company, once again they give you a multi-policy discount.

Now you do understand that liability will pay nothing on your vehicles which is good, but, did you pay cash for the 2016? Or is the 2016 a leased vehicle? If leased or has a loan, then you must also carry collision and comprehensive for the 2016.

You'd need to be specific in what kind of insurance you have on both cars, and frankly, if you do not have full collision coverage on the 2016 car, you're an idiot.

Also, unless you bought the 2016 car for cash in full, your car loan agreement almost certainly requires you to carry full coverage on the 2016 car as long as there's still a loan balance on that car.

For more details, talk with an insurance agent.

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