Car Insurance Rates for a Smart Fortwo

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Here's what you need to know...
  • Finding Smart Fortwo car insurance rates could be a bit of a challenge due to the fact that this car is relatively new to the U.S. market
  • The Fortwo is the second offering from Smart, the Daimler AG Company that also owns Mercedes-Benz
  • Smart Fortwos are designed to be primarily city cars that can carry the driver and one passenger and little else
  • The Fortwo is rather inexpensive with excellent gas mileage, but the insurance rates are not as cheap as you may think

Remember that car insurance is a business based on a certain risk-to-reward ratio. In other words, your car insurance company is rewarded by profits when it invests the money from your premiums in a number of financial vehicles.

At the same time, the company risks losing all of your premium money, plus the profit it has earned if an accident should ever cause you to file a file a claim.

Insurance companies must weigh their risk and reward when determining what type of policy to offer you and how much to charge.

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How does the Smart Fortwo stack up?

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One of the biggest concerns of the Smart Fortwo in the U.S. market revolves around safety issues. The car did fairly well in its first round of crash tests, giving Smart USA a glimmer of hope that the car was safer than most critics claimed.

However, those tests were done using other cars of similar size and weight.

When the Fortwo was tested against larger cars, it did very poorly.

Because the car is so small and lightweight, the second round of testing revealed the possibility of significant injury to any occupants when involved in an accident with a larger vehicle.

The dashboard, steering wheel, and pedals posed significant risk to the driver to the point that fatalities became a real concern.

From an insurance perspective, the safety results tell car insurance companies that the risk posed by the Smart Fortwo is very high.

Do any car insurance companies cover the Smart Fortwo?

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Few auto insurance providers, if any, preclude Smart Fortwo owners from getting coverage. It is important to note that the Smart Fortwo is an Italian car, which means that this vehicle was debuted in Europe before it was sold in the U.S.

Therefore, car insurance companies in other countries might rate the Smart Fortwo differently than insurance providers based in the U.S.

When consumers first go to apply for car insurance quotes, they are asked to supply the vehicle’s make and model or vehicle identification number before they can proceed.

You would immediately know if a car insurance company does not offer insurance on the Smart Fortwo because you would not be able to get information on rates.

Some auto insurance providers specialize in providing coverage for foreign imports, sports cars, or vehicles considered to be a high insurance risk.

Even if you happen to come across a company that does not extend coverage for the Smart Fortwo, you will probably find that this is the exception and not the rule.

What qualities positively affect car insurance rates for the Smart Fortwo?

Mechanic standing in front of car with two wrenches in hand. Car repair.

In terms of collision and comprehensive coverage, one of the things the Fortwo has going for it is that its repair and replacement costs would be relatively low.

Add to that the fact that these cars are still somewhat of a novelty, which keeps their Blue Book value high, and you have a scenario in which a car insurance company could consider the vehicle a total loss and still get by with a reasonable payout.

The car’s small size and light weight frame reduce the potential for property damage in some accidents.

A heavier, full-size sedan might cause significant property damage if it jumps the curb and ends up in someone’s yard, the Smart Fortwo is less likely to do such severe damage.

Is it cheaper to insure the Smart Fortwo compared to other vehicles?

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According to the Insurance Institute for Highway Safety, the 2011 Smart Fortwo has an all around “good” safety rating. The crash and safety tests conducted showed that the Smart Fortwo stood up well during impact.

Smart cars can become significantly damaged during impact, especially when driven at high speeds.

When Smart Fortwo insurance rates are calculated, the neighborhood in which the driver resides will be heavily considered.

Small cars such as the Smart Fortwo can be more easily parked in metropolitan areas, get better gas mileage, and are usually owned by more responsible drivers.

Smart Fortwo drivers that do a lot of highway driving might be more at risk of being involved in dangerous accidents than those that live in more suburban settings.

Overall, Smart Fortwo owners likely get lower insurance quotes than the owners of larger vehicles because of the Fortwo’s size, price, and functionality.

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How do I find out what car insurance for the Smart Fortwo will cost?

The easiest way to find out how much it costs to ensure a Smart Fortwo is to simply call your current insurance provider and ask. They should be able to give you a ballpark estimate.

The car insurance rates in your state will factor into the difference, as will personal factors.

The Smart Fortwo is a niche vehicle that should be well received in America’s larger cities. But since it’s intended to be primarily a city car, those who live in large suburban or sprawling rural environments will probably find it unacceptable for their normal use.

Because the car is new to the market it would be wise for you to check the entire cost of ownership, including car insurance.

Keep in mind that car insurance is required, in some form, in every state of the union.

Most states require drivers to carry policies written by insurance companies licensed to do business in their state. A small number allow drivers to be self-insured if they can prove the financial wherewithal to do so.

When insuring your Fortwo, or any other vehicle for that matter, remember that there is a certain amount of state-mandated coverage you must carry.

Search for car insurance quotes on your Smart Fortwo by entering your ZIP code below!

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