What Type Of Car Has The Best Insurance Rate?

By Mike Anderson Posted in Car Insurance News

To legally drive within the United States, all motorists are required to carry some form of auto insurance. Car insurance can be quite expensive and costs many motorists a couple hundred dollars per month. Luckily, there are many car factors which auto insurance providers use to determine car insurance rates which can be taken into consideration by car purchasers. This article discusses the key factors the insurance providers take into consideration when determining car insurance premiums.

Value of the Car

The largest driver of car insurance premium costs is the value of the car. Generally speaking, the more expensive the car costs, the more expensive the car insurance premiums will be. This is because in the event the car is stolen or that the car is damaged to a point beyond repair, the car insurance provider will be required to reimburse the insured for the value of the car. Other valuable items, such as a GPS system, will also increase the insurance costs.

Safety Features

Another factor which determines the cost of insuring a car is the amount of safety features within a car. Most cars come with upgradeable options that cost additional money, but increase the car’s safety. These options, which include anti-lock breaks, extra airbags, and a theft prevention security system, help prevent theft, auto accidents, and they lower the potential damage in the event an accident occurs.

Car Statistics

Another factor that car insurance providers use to determine car insurance premiums is historical car statistics. Certain automobiles are much more likely to be stolen or involved in an auto accident. These cars which are un-proportionately stolen or involved in large auto accidents tend to cost much more to insure than average cars.

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