This paper studies the error behavior of low-cost inertial sensors in dynamic conditions. After proposing a method for error observations per sensor (i.e., gyroscope or accelerometer) and axes, their properties are estimated via the methodology of generalized method of wavelet moments. The developed model parameters are compared with those obtained under static conditions. Then, an attempt is presented to link the parameters of the established model to the dynamic of the vehicle. It is found that a linear relation explains a large portion of the exhibited variability. These findings suggest that the static methods employed for the calibration of inertial sensors could be improved when exploiting such a relationship.