Buying Your First Car Insurance Policy
Each brand, make or model car has its own unique features. Even within a class of models, a driver is able to decide what sports or premium package to add with the option of leather seats, navigation system, rims, alarm system, etc. Some buyers prefer luxury or sports cars, while other s are inclined to purchase SUVs and trucks.
Naturally, different models have their own benefits – some vehicles have high safety ratings or great fuel economy (MPGs), while others pack a V8 engine. During the purchase of a car, the driver should research how expensive his car insurance may be, and how to get cheaper car insurance rates?
Sticker Price – Rate Shock
Obviously, if the car costs the insurance company more to replace or repair, then the car insurance quotes are going to be higher. And naturally, expensive luxury cars have higher replacement and repair costs. When getting car insurance quotes, a BMW will cost more to insure than a Honda Civic.
Safety Features Equal Discounts
If a vehicle comes equipped with safety features, your car insurance rate will go down. Features such as airbags for both passengers and drivers, alarm system, traction control, anti-lock brakes, and the newest hi-tech safety features all help lower your rate quote. Insurance companies rationalize that, if an accident occurs, these devices will reduce the severity of injuries and potential damage to your automobile, therefore reducing the amount of any medical injury and repair claims.
For older vehicles, these safety features may not make a difference because a driver is insuring a cheaper, older vehicle, so the auto insurance rates will be low to begin with. Learn more about discount car insurance.
4WD vs. 2WD
Four-wheel-drive (4WD) is a more complex system with more moving parts than the standard two-wheel-drive (2WD) vehicle. In this case, greater complexity leads to a higher probability of some future problem, causing an increase in auto insurance premiums. Just as we’ve mentioned earlier, the higher the price tag for replacement parts and labor, the more the vehicle will cost to insure. 4WD is more expensive to service and repair than 2WD. This is partially why a 4WD Jeep car insurance quote will be more than your average 2WD passenger car.
Likelihood of Theft
Toyotas and Hondas are some of the most sought after vehicles for theft because these vehicles are commonplace and marketable. A car may be easy to steal, valuable on the black market, or it can have valuable parts for the after market. Whatever the case, insurance companies account for the probability of theft based on your car’s make and model, and neighborhood. Insurance companies utilize statistics and historical data to determine the probability of your vehicle being stolen. The higher the chance, the more you will pay for car insurance.
Sports Cars Don’t Get Cheap Car Insurance
Typically, a consumer who purchases a sports car likes and wants to drive fast. Driving at high speeds reduce reaction times and increase the chances of losing control, leading to an increased chance of crashing or causing an accident. Because of this, sports cars are more frequently involved in collisions compared to other automobiles, and insurance companies will make sure you pay for it through higher rates.
Compact cars and sedans of make and model cars that are relatively inexpensive will get you cheap car insurance.
The Type of Driver
The kind of car you drive provides insight into your personality, at least, that is what car insurance companies believe. Certain car models are more favored by “aggressive” drivers and others are favored by “passive” or “conservative” drivers. A Camaro SS, Charger, or Mustang GT, for example, might have higher auto insurance rates than a Toyota Camry or Honda Accord.
Though this model doesn’t necessarily stereotype everyone accurately, insurance companies base their premium rates on historical data, case studies, and assumptions, not exceptions. The positive side of this assumption is that Volvo, Cadillac, or Lexus drivers are considered “safer” drivers who are less likely to file a claim, and therefore will get cheaper car insurance rates.
Compare Online Car Insurance Quotes
Remember, there are many factors that go into determining the cost of your car insurance premiums. The best way of finding the cheapest car insurance rates is to get multiple online quotes at MyCarInsuranceRates.com.
By entering your 5-digit zip code at MyCarInsuranceRates.com, consumers can find and compare car insurance quotes online from the best auto insurance companies in the country, like Nationwide, Allstate, GEICO, Progressive, 21st Century Insurance, Liberty Mutual, State Farm, Farmers, AAA, and AARP. We help you find the best, cheap car insurance available in the U.S.
Start comparing car insurance rates now and begin a car insurance quote to save you money with cheap car insurance.
