subject: Finding Cheap Auto Insurance Often Depends On What Vehicle You Drive [print this page] Finding Cheap Auto Insurance Often Depends On What Vehicle You Drive
One of the factors you should keep in mind when buying a new vehicle is whether or not you can get auto cheap insurance for it. Because insurance fees are a significant price of ownership issue it could be useful to choose a car that comes with lesser premiums.
Insurance firms arrive at insurance rates utilizing reams and reams of stats that analyze things like number of incidents, cost associated with those accidents, age of drivers, location of drivers, etc... and what type of vehicles are involved with those accidents. From these stats they can determine which types of cars are more or less likely to be involved in insurance claims and they will adjust their rates based on this analysis.
For the 2010 model year, the least costly cars to insure, according InsWeb, are:
Kia Sedona
Mazda Mazda5
Ford Escape
Hyundai Santa Fe
Mercury Mariner
Chrysler PT Cruiser
Ford Explorer
Subaru Outback
Kia Optima
Chevrolet Equinox
On the flip side, the most expensive to insure 2010 models are:
Acura ZDX
Audi TTS
Audi A5
Cadillac Escalade
Chevrolet Corvette
BMW Z4
Lexus SC
Jaguar XF
Cadillac STS
Dodge Challenger
Of course, the very first thing that jumps out at you from these lists would be that the more expensive a vehicle is the more unlikely you are of obtaining cheap auto insurance. Most of the vehicles in the most expensive to insure list cost over $40,000 then again, if you can afford the car you should be able to afford the insurance.
Insurance premiums are impacted by more than just the cost of the vehicle.
1- Loss history - reflects a specific model's involvement in insurance claims. Obviously it isn't the cars fault if it has an accident but rather it is the driver's fault. However, certain cars attract certain, higher risk drivers. That is why high performance cars are usually more costly to insure. Oddly enough, because inexpensive cars usually have younger drivers because of their affordibility, they tend not to be the cheapest to insure as a result of extra risk brought by younger drivers.
2- Repair costs - it is simply less expensive to repair some models more than others. The price and availability of spares is important. I am sure you noticed that most of the vehicles with higher insurance costs are import models.
3- Safety equipment - Vehicle stability control and side air bags are just examples of safety features that will reduce claims from injuries and contribute to reduced insurance premiums.
4- Security options - Automobiles with good alarms or automobile location devices are less likely to be stolen.
Therefore before choosing your new car go over the above list and if getting cheap auto insurance is essential then buy accordingly. Keep in mind however, that these lists are always changing so be certain that you're looking at up-to-date data .
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