Tips For Choosing A New Car For Lower Insurance Rates

Insurance Blog

When shopping for a car, keep in mind that the cost of insurance must also be factored into your purchase. Fortunately, there are quite a few ways to save.

Call Before You Buy

Some cars are simply cheaper to insure than others. Some of the more expensive-to-insure cars are obvious. Generally, sports and luxury cars require pricier coverage, as does any high-value vehicle whether it be a car or a truck. Certain classic and collector's cars are also going to be more expensive when it comes to insurance coverage.

Not all expensive-to-insure cars are obvious, though. Some may only be more expensive in certain regions, often because they are often the target of thieves and vandals. Color may also affect insurance rates, as can the local driving habits where you live. The only way to know if a car is expensive to insure is to call the agency before you buy. They can tell you which models to avoid at all costs and provide guidance on insurance costs for any specific cars you are considering.

Skip the New Car Lots

Chances are that a brand-new car fresh off the lot is going to cost more to cover than the same care in a slightly older model. Of course, this is with the exception of certain collector's and classic vehicles.

There's another reason brand-new cars are often more to insure. Most drivers must take out financing when purchasing a new car. A financed car must have both comprehensive and liability coverage as required by the financing lender. The lender may also require certain monetary levels of coverage, which can drive up insurance rates. If you purchase a used but new-to-you car, you may be able to pay for it outright. This means you can opt for liability-only insurance or lower levels of comprehensive coverage — thus saving money.

Invest In Money-Saving Features

Certain features may cost more initially on a vehicle, but they can save you a lot of money over time because they equate to lower insurance costs. Anti-theft devices fall into this category. These can include built-in alarms, aftermarket accessories, or devices meant to protect certain components like catalytic converter cages.

Safety features also lend themselves to lower insurance costs, particularly for comprehensive coverage policies. Additional airbags, vehicles with high safety ratings, daytime running lights, and anti-lock brakes are just a few examples of the features that can lead to a reduced rate.

Contact an insurance broker like one at Illinois Insurance Center Inc to learn more about cheap auto insurance options for your new car purchase.

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19 March 2021

Understanding Insurance Rates

About a year ago, I started thinking more seriously about choosing different insurance. I was focusing on all of the different aspects of insurance, and it was really interesting to me to see how much I could save by switching services. It was a lot to process, but before I knew it, I was able to completely overhaul my insurance coverage, and it made a tremendous amount of difference for me. This blog is here to help other people to know what to look for in insurance coverage so that they can enjoy a happier tomorrow. Check out this blog for more information.