Before you even start shopping for auto insurance, the car you choose to drive has a major impact on your potential premiums. Insurance companies meticulously track data on every make and model, and this information directly influences the cost of your policy.
One of the primary factors insurers consider is the vehicle’s safety record. Cars that perform well in crash tests and are equipped with advanced safety features are generally cheaper to insure. These features not only protect the occupants but also reduce the likelihood of expensive injury claims.
The cost of repairs is another critical element. Vehicles with expensive parts or that require specialized labor to fix will inevitably have higher insurance premiums. This is why luxury cars and high-performance sports cars are so costly to insure. Before you buy a car, it’s a good idea to research the average repair costs for that model.
Insurers also look at the likelihood of theft. Cars that are frequently targeted by thieves will have higher comprehensive coverage rates. You can check the National Insurance Crime Bureau’s “Hot Wheels” report to see which vehicles are most commonly stolen.
Finally, the car’s overall value plays a role. A more expensive car will cost more to replace if it’s totaled, leading to higher collision and comprehensive premiums.
By considering these factors when you purchase a vehicle, you can set yourself up for more affordable auto insurance from the start.