How to Choose a Car For Lower Insurance Rates
Buying the right car may save you hundreds of dollars in insurance costs a year. So, if you’re in the market for a new set of wheels and you want lower premiums, take the time to find out which cars are cheaper to insure. What car you drive is almost as important as your driving record, when it comes to your auto insurance rate. Insurers are able to determine what kind of claims you are likely to file in the future based on the vehicle you drive. Compare auto insurance quotes for various brands and models, to get the lowest rates.
Insurers create risk profiles of the average driver of particular models. For instance, they have found most people who drive minivans or small SUVs typically don’t use them to commute to work or drive around at night. Since they tend to be to safe, responsible drivers, all minivan drivers benefit from their cautious reputation when it comes to insurance rates. On the other hand, sport car drivers are considered to be more aggressive drivers, so they will have higher rates. Make sure you apply for several auto insurance quotes to best coverage and price. Once you have a model in mind, here are three other factors to consider when buying a new car:
Car’s Age
If you’re considering buying a new car, remember that the latest model year vehicle is the most expensive one to insure. So, if you’re not in a hurry, wait a few months until the car you want to buy is no longer the newest model on the lot. Buying last year’s model might lower your auto insurance premiums a few hundred dollars a year. However, if you think you will trade in your car for a new model in a few years, you may not save that much money buying last year’s model. On the other hand, if you plan to hold on to your car for more than five years, then the difference of a year between cars in similar condition and mileage will usually be less than $1,000. In most instances, you will have saved more than that amount buying the older model. To get an idea of how much it will cost to insurance a car, apply for auto insurance quotes.
Safety Records
Insurance companies want to insure cars with records requiring fewer and less costly claims. Check the National Highway Traffic Safety Administration tests for safer cars and the National Insurance Crime Bureau’s most-stolen list for vehicles thieves target. You may get a discount if your car has anti-lock brakes, anti-theft devices – alarms and GPS tracking systems, and safety gear — airbags, side airbags and automatic seatbelts. Having these devices may save you 10 percent or more on your premium. Check your prospective vehicles safety records, before you apply for auto insurance quotes.
Older Vehicles
Buying an older car can also help you reduce your auto insurance premium. If you own an older vehicle, you may not have to buy collision and comprehensive coverage. The Insurance Information Institute recommends you can drop this coverage, if your vehicle is worth less than 10 times the premium. Put another way, it does not make sense to pay comprehensive or collision on a car worth less than $1,000, because any claim payment you receive would not substantially exceed your premiums minus the deductible.
Once you have done your research, you are ready to shop around for lower auto insurance rates. You can call agents in your local area, contact insurance companies directly or use InsuranceQuotes.com to instantly get competitive auto insurance quotes from the nation’s leading insurance providers. Simply fill out an online form on InsuranceQuotes.com to find the right insurance coverage at the best possible price. Take the time to protect you and your family today.
