From time to time there are conflicting information about which cars would be more economical to insure. Is it more expensive or cheaper to insure a latest model car? It is not easy to say that insuring a new vehicle is cheaper before looking at all the details. This depends on its value, model, type, safety and security features and they are discussed below as well as how to get cheap insurance for a new automobile.
Is It Cheaper to Insure a New or Used Car?
A couple of year old automobile should still have up to date safety and security features and reasonable value. If they are similar types of cars there may not be much in terms of premium between them. A new auto is probably worth a little more and therefore it may look that insuring a new car would be more expensive. However, if it has improved safety and security features you may get discounts and this will make up for the additional premiums may be required to insure a new auto with higher value.
When it is much older and lost most of its value it may be a good idea to drop collision and comprehensive coverage from your older car insurance. This could save you money but it may not really be as much as you expect. Auto insurers already take these things into account and should be able to offer cheap full coverage car insurance quotes that include collision and comprehensive coverage anyway.
How to Get Affordable Insurance for New Cars
Rates are affected by change of vehicle on the policy when the change is considerable. So here are a few points to keep in mind when you are shopping for a new vehicle and like to keep the insurance costs at bay.
- Let’s say you had a typical sedan and now you have a two door sports car. It wouldn’t be a surprise if the premiums suddenly shoot up to twice the amount. When the chance of an accident increase because of the speed of the new automobile the premiums will increase as well. Large engine size and utility vehicles are other types of cars insurers are not happy much and demand higher premiums. Keep this in mind. Either avoid these types of vehicle or be prepared to pay a lot of money for your new auto insurance.
- Actually, there may be nothing special about your latest model automobile and certainly nothing like sports car or 4×4. And yet you can still face large car insurance premium increase because it is easy to steal. People may think that Porsche and BMW are most stolen cars. However, it was Honda Civic that was topping the lists for most stolen autos for years. Why, because it is a child’s play to break into. It is best to avoid those automobiles. You don’t want to be dealing with an auto theft any time soon anyway.
- You should pay attention to how safe is your latest vehicle. This is important for two reasons. First of all, a safer automobile protects you and your family better in cases of vehicle accidents. They reduce death and injuries substantially. Even simple features like advanced seat belts and air bags can be the difference between surviving a crash and not making. Secondly, safer autos qualifies you for safe car discounts. Check some of the safest automobiles you can buy on that post.
- It becomes even more important to check insurance for new autos first when you are buying it for a teenage driver. They are already high risk and have to pay a lot more for insuring a new auto. So, it is best not to aggravate the problem and buy cheap to insure cars for teenagers.
- The best thing to do is to get several quotes before buying a car and see if underwriters like the car you like. At the end you may not make your decision based on premium quotes but it will help you understand the position and you will be prepared for what is coming. You don’t want to spend all your money and realize that you need a small fortune to buy a new car insurance policy as well.
New Automobile Insurance Rating Score
One of the most effective ways of getting cheap insurance for new cars is to find a vehicle that has lower insurance score. The lower the score is the lower the premiums. The difference in insurance costs can be as much as twice between a car considered high risk and fairly safe one.
Many people prefer smaller and cheaper to insure cars especially in the cities and expensive zip codes. Having a smaller car means that you have a smaller engine and cheaper city auto insurance. Powerful engines allow motorists speed much quickly and drive much faster. That is why possible accidents are likely to be more serious with loss of life and material damages.
Furthermore, automobiles with smaller engines and body is preferred by city residents because it is easy to park and economical to run them. On the other hand, Large and powerful automobiles can be a real problem in the hands of younger, less experienced drivers in terms of accidents and insurance. Younger drivers mainly look at beauty and prestige when they want to buy an auto. However, costs and practicality should always be included in your thinking.
Your personal choices will affect what type of an auto you will pick at the end. However, there is no harm in looking to see if you can get inexpensive insurance for a new vehicle you will love. You can have everything you want from your latest automobile. But you need to be prepared to spend a few hours in front of your laptop checking and comparing details of various cars and for test drives. People usually keep a new vehicle for several years. You don’t want to be paying high premiums in that time for your latest model car because you haven’t done your research carefully.