How Much Will The Type Of Car Affect My Cheap Auto Insurance Premium?

By Sharon Gibson Posted in Car Insurance News



Have you ever shopped around for insurance and wondered if you could save some money on your premiums? One way to do this is to take a look at the kind of car your are driving. The type of car being insured has a big impact on how much you are paying.

Sports Cars

A good rule of thumb is the less expensive a car is to buy the less you will pay in insurance. A higher performance car will put more of a dent in your wallet. This is also true for cars that have a high rate of theft and cars that are expensive to fix. Insurance companies balance the amount you are paying with the amount they will have to pay if something happens. If it will cost a lot to replace your car or fix any damage, you will see it in your premiums.

New Cars vs. Old Cars

The older a car is the less expensive it will be to insure. This goes along with the more pay for the car the more you will pay for insurance. Be careful though because some of the older model cars do not have the safety features that insurance companies will give discounts for. Automatic seat belts, airbags, and anti-lock brakes are all eligible for discounts.

Does Color Matter

Many people think that if you buy a red sports car you will have to pay more. This is not true. Your insurance premiums will be affected by the style of the car, but not the color. So even though your premiums may be more each year it is because of the car is a high performance vehicle. When shopping for car insurance keep these few things in mind and you will be able to keep your money in your pocket and not in the pockets of the insurance company!

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  3. Does Engine Size Affect Cheaper Car Insurance For Young Drivers?
  4. How Do I Save Money On Cheap Car Insurance For New Driver?
  5. What is The Impact of Vehicle Theft on Low Cost Car Insurance?






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