What Makes A Car Cheaper to Insurance?
Car insurance companies do look at the kind of car you drive. As you might imagine, some cars are cheaper to repair, tend to have few accidents, and get repaired faster. All of these factors will impact an insurance company's bottom line, and of course, your premium bill. Here are some factors that car insurance companies look at when they decide how to price insurance for a specific model of auto.
The design of the car impacts rates, because auto insurance companies want to know how expensive that potential repair bill will be. Car repair bills rise because of intensive labor, or needing more skilled repairmen. Also, if more parts need to be replaced, then the bill will be more expensive.
Technology that makes your car safer, and helps you avoid accidents, will also have a favorable outcome on your final insurance premium. Anti-lock brakes or other accident avoidance technology will be a good investment. Other technology that protects your car from being stolen will also be considered. Car alarms and other devices to theft-proof your car are good investments, especially if you buy a car that insurance companies believe is more likely to be stolen or if you life in an area where car theft is common.
One other factor that most of us would not consider, is if the car is an imported or domestic vehicle. Imported cars may require imported parts. Imported parts may be more expensive, but also may be harder to obtain. If the local body shop needs to order parts, then your car will sit in the shop longer. If your insurance policy covers you for a rental car, then you will need to keep that for weeks instead of days.
Where Can You Research Safer Cars?
The Insurance Institute for Highway Safety is a great resource for research. Of course, you want a safer car for to protect yourself and your family. Having a lower car insurance premium will be an added benefit.
Is that All There Is To Consider?
Of course the safety of your car is not the only factor that car insurance companies factor in when they decide how much you pay! You age, where you live, marital status, your driving record, and even your credit report are factored in. Insurance companies will also consider how you use your car. A middle aged housewife who uses her car to shop twice a week may very well pay less than a younger salesperson who logs 500 miles a week. Of course, if the salesperson has a great driving record, he or she may do better than a housewife who has experienced an accident or tickets in the past year.
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