Buying a Car with Insurance Premiums in Mind
Optimal protection in an accident is just one reason to purchase a safe car. Your car insurance rates could also be lowered by owning one as well. The following are somethings you should look for in choosing a safer car; these things may also qualify you for some lower premiums.
Newer is usually better
Newer cars tend to have more safety features. If you have the means, you might want to start there. Some of these characteristics include keyless locks, shoulder harnesses, airbags, and car alarms. You will generally be better off by choosing more safety features included as standard. Most insurance companies will usually offer a better premium where the insured vehicle has these features. However, you can always talk to your car insurance agent about adding some of these features later, and your premiums may be re-adjusted if you notify the insurer that you have added these features.
Higher risk equals higher premiums
Four door cars are usually better for safety than two door models, and you should consider that when shopping for a car. The younger crowd might consider four doors less exciting, but in an accident, these cars are usually safer. Some two door cars such as sports cars also generally boast higher horsepower engines which means higher premiums. If you’re insuring a teenage driver, premiums are usually higher as teens are generally considered higher risk drivers; you might want to choose a car with features that will earn a discount to offset this.
Ex-rental and ex-company cars
Cars that have been used in businesses and as rental cars will usually have a higher mileage, may not be as well maintained or mayhave been driven excessively. Therefore they may not likely qualify as being particularly safe. While there are exceptions to this, you should be cautious when buying a car that falls into the above categories.
Think like a car thief
How likely is your new car to be stolen? This will affect your premiums. A sports car with a high performance engine will be more prone to car theft, and may therefore cost more to insure.
Shop smart
You have to be satisfied with the car you buy at the end of the day, and there will obviously be budget constraints that impact your purchase. However, you can usually obtain lower premiums on your insurance if you get what insurers consider a ‘safe’ car – namely, one that is likely to be reliable and not driven in a ‘risky’ fashion – which means that high performance, modified cars and older cars will cost you.
If you are already shopping for a car and comparing car insurance premiums, consider the safety features of different cars and check how they may affect your insurance premium. This way you can find a safe car and try to keep your premiums down.
This article contains general advice about car insurance. The author has not taken into account your financial situation or needs and you should consider whether the advice provided is appropriate for your own circumstances before relying on it.
Filed Under: Insurance Tips
