If you’re interested in buying a car, or are looking for insurance for your car that won’t cost a ton in the long run, there are several things you may want to consider, including the make, year, and size of your car, and how much horsepower it has.
I) How Much Horsepower Does a Car Have
Of course it’s common sense that cars with higher horsepower will require more money to insure, because these cars are favored by drivers who like to drive fast and may be inclined towards reckless behavior and prone to accidents.
2) How Common is the Make and Model of a Car
Even though it may seem that nondescript, dependable cars might be quite cheap to insure, this is not always the case. There are some very common, very safe-seeming cars, such as some Honda and Toyota models made in the 90’s, that might cause insurance premiums go up simply because their parts are widely used and durable, making them more likely to be stolen than other cars. The 1995 Honda Civic, for instance, which is a popular, durable model and has sold year after year, has many parts that can be harvested and sold to car owners looking for repairs, and has repeatedly topped lists of “most stolen cars” in recent years.
3) Is Old Cheaper than New
Many people believe that newer cars will be more expensive to insure than older cars, but this is not necessarily the case. Some older cars may lack such basic safety features as crumple zones and anti-lock brakes, which will make a make the health costs of a crash much riskier for an insurance company.
4) Is Smaller Better
Although many believe that smaller cars are likely to cost less because they are more maneuverable, many smaller models might not actually cost you less in insurance. Smaller cars are not only at risk for sustaining more damage during a crash, and thus requiring more repair costs, but smaller, more maneuverable cars are more often involved in crashes than bigger cars simply because they are going faster. A mid-sized car, such as a small van or sedan is often the best size for a low rate. Remember to take into account what type of person (and their habits) usually buys a certain size of car. The driver of a minivan is most likely going to be more cautious, slow, and thus cost less money sports-car drivers.
You should also take into account other details, such as location and weather when you’re buying a car. Although some location factors will up your premium no matter what, such as the likelihood of icy roads in northern states or the likelihood of damage from hurricanes or other storms, some cars might do better in some places than others. A car with four wheel drive might get better insurance if you live in the mountains or a snowy area, while a car that has sophisticated anti-theft protection might cost less in a bigger city or in Texas or California, where cars are often stolen to be sold across the border.
The best approach is to thoroughly research the car you are considering buying, and its strength and weaknesses. How will the insurance company view such a car? Are there known flaws that they will want to compensate for? Also consider your location and weather conditions. Finally, remember to drive safely and responsibly – your personal record is by far the most defining aspect of your car insurance costs.
Mark McCrell is an auto aficionado who loves to drive his 1974 Buick LaSabre around town and write about all things auto. He currently blogs for the website AutoInsuranceQuotes, which specializes in auto insurance tips.