Shopping for a new car may be fun and exciting but we all know the bottom line comes down to cost. Not just the price of the vehicle but also what it costs to insure it. The insurance premium you carry is an important factor but you should consider other findings when looking for a quote that might save you some money.
There are certain cars that are surprisingly expensive to insure. Back in the day, I would give the example of the Ford Escort and the Ford Explorer. The Escort cost more to insure which was surprising since the vehicle was about two-thirds of the cost.
The simple example that I would give is to picture an accident between and Escort and a tree while going 5 MPH. The Escort would have a LOT of damage from a minor collision. That same accident in the Explorer would result in a scratch on the bumper and a big "Oops!" from the driver. Nothing more.
There are many more factors that go into a rate, but that is a snapshot to explain why it isn't just the price of the vehicle.
Consider a package deal. Combining home owners, life and car insurance could save you a good deal. Discounts such as safety devices on the car (air bags, daytime running lights, passive alarm, VIN Etching), good credit rating, good student credit, safe driving courses and if the car is a hybrid/electric car. Try increasing your deductible or paying your policy in a lump sum to reduce the premium as well. Each of these can save you premium dollars.
Always shop and compare the insurance costs of vehicles. It's surprising to know the fact that a more expensive car may be cheaper to insure! Insurance companies estimate many things when determining the insurance rates for specific vehicles. Factors that affect the premium are: accidents by vehicle model, cost of repairs for each vehicle, claims for injuries and cost to insurers if the car is a total loss.
Typically, the safer the vehicle, the lower the cost is to insure that same vehicle. Drivers of a minivan are less likely to be in an accident as those who may drive a souped-up sports car. But the minivan cost for parts and labor may be more than the sports car. Every car has a different rating with the insurance companies.
The task may seem daunting but with the ease of shopping around, and taking the time to look into a car, may save you money even before you get to the car dealership!
Rob Lawrence provides insurance resources as a part of the insurance quote service at http://www.insurancelevel.com/auto-insurance.cfm
Click here to get "cheap car insurance quotes" that will provide you with a comparison on your insurance from top companies who are competing to earn your business.
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Robert B. Lawrence
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