Expenses with a new car can add up quickly. Car insurance is one thing that everyone has to have, but there are ways to cut the costs which are based on three things – your personal demographics (gender, age, driving history), where you live, and what type of car you purchase.
Check out our tips below to find a vehicle that will be less expensive to insure.
Check the Safety Ratings of the Vehicle
To really save on car insurance, it’s best to purchase a car that has a high safety rating. Vehicles that have more safety features are more likely to qualify for lower premiums and discounts. Be sure to look for recalls on any vehicle you are considering, as some insurance companies won’t insure cars that have recalls on them.
Safety ratings for cars are easy to find. Five stars is the highest safety rating, and one is the lowest. Remember that insurance companies also consider how much damage your vehicle could cause to another car which could increase your liability premium.
Avoid Sports Cars
Any car that has a high performance engine and other speed features are higher to insure. Insurance companies consider you to be more of a risk on the road, as drivers with sportier cars tend to drive faster and be in more accidents. Also, sports cars cost more to replace and repair.
Avoid Luxury Vehicles
Expensive luxury vehicles always have higher insurance costs. The very high repair and replacement costs can increase your insurance premiums significantly. Models such as Rolls Royce, BMW, and Mercedes-Benz have the highest collision and comprehensive insurance losses.
Be Aware of Popular Models among Thieves
How likely it is that your vehicle could be stolen is also plays a role in what you will pay for insurance. Certain vehicles are more popular among thieves. In 2019, the five most stolen vehicles were the Honda Civic, full-size Chevy trucks, full-size Ford trucks, the Honda Accord, and the Toyota Camry.
Compare Insurance Rates before you Buy
Once you have narrowed down the list of cars you like, contact your insurance company and get insurance quotes on each of them. Insurance costs can vary by a few hundred dollars a year depending on the vehicle you purchase. Always shop for insurance the same way you shop for your new car.
While researching your next car to buy might be time-consuming, you could save a lot of money in premiums each year.
Check out our tips below to find a vehicle that will be less expensive to insure.
Check the Safety Ratings of the Vehicle
To really save on car insurance, it’s best to purchase a car that has a high safety rating. Vehicles that have more safety features are more likely to qualify for lower premiums and discounts. Be sure to look for recalls on any vehicle you are considering, as some insurance companies won’t insure cars that have recalls on them.
Safety ratings for cars are easy to find. Five stars is the highest safety rating, and one is the lowest. Remember that insurance companies also consider how much damage your vehicle could cause to another car which could increase your liability premium.
Avoid Sports Cars
Any car that has a high performance engine and other speed features are higher to insure. Insurance companies consider you to be more of a risk on the road, as drivers with sportier cars tend to drive faster and be in more accidents. Also, sports cars cost more to replace and repair.
Avoid Luxury Vehicles
Expensive luxury vehicles always have higher insurance costs. The very high repair and replacement costs can increase your insurance premiums significantly. Models such as Rolls Royce, BMW, and Mercedes-Benz have the highest collision and comprehensive insurance losses.
Be Aware of Popular Models among Thieves
How likely it is that your vehicle could be stolen is also plays a role in what you will pay for insurance. Certain vehicles are more popular among thieves. In 2019, the five most stolen vehicles were the Honda Civic, full-size Chevy trucks, full-size Ford trucks, the Honda Accord, and the Toyota Camry.
Compare Insurance Rates before you Buy
Once you have narrowed down the list of cars you like, contact your insurance company and get insurance quotes on each of them. Insurance costs can vary by a few hundred dollars a year depending on the vehicle you purchase. Always shop for insurance the same way you shop for your new car.
While researching your next car to buy might be time-consuming, you could save a lot of money in premiums each year.
RSS Feed