Buying a Car That Has Cheap Car Insurance
If you’re shopping around for a car, take these tips in mind: with a little research, you can buy a car that is more affordable to insure than similar models. Here’s how.
Insurance companies use certain measures to determine auto insurance rates for vehicles. They look at:
- A car’s safety ratings
- How cheap or expensive repair parts are
- The likelihood this model will be stolen
If a car model is brand new and there is no history by which an insurer can assess these characteristics, they will use the MSRP, or sticker price of the car to determine its price in insurance.
High performance or sports cars tend to have higher auto insurance premiums, while family vehicles (which usually have higher safety ratings) are cheaper to insure. Color of the car has no bearing on its premium, despite the rumors.
If a car is frequently stolen, it will cost more to insure, like the Cadillac Escalade.
What to Look for in a New Car
While any new car will be more expensive to insure than its older counterparts, there are a few ways you can save on car insurance. First, look at safety ratings. A quick look at a site likeEdmunds.com or similar will net you more than enough results to study. Find a few models that rank high for safety.
Then get quotes for different models. You can use our built in Quote Generator to get quotes for any type of model vehicle from multiple car insurance companies.
Factor in the cost of the insurance in with what you budget to pay for the car. If you have to have that H2, know that it will cost you more to insure. Don’t be caught by surprise after you buy your car and you find out that insurance costs an arm and a leg!
