What type of used car would offer me the cheapest car insurance?
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Asked April 22, 2014
Of course a new car has more expensive and higher rates of insurance while used or old car has lower. Several factors like safety features, theft rate, quality of auto parts, interior and exterior of car and many others. Some time it also depends on car brand but in rare cases.
Answered April 11, 2015 by caryferguson
There are two main areas to look at if you want the least expensive car to insure, but the type of coverage is also a source of savings. The rule of thumb is that the less you pay for a car, the lower your premiums will be, with further adjustments available through demographics and personal insurance options.
Pay cash for the car, if you can. This allows you to drop collision and comprehensive coverage's which are required by most lenders. You will be responsible for repairing your own car or replacing stolen items, but can save a tremendous amount on premiums. Paying cash for a car will not help you credit score, but it does remove the potential for losses. If you drive a cheap enough car, it may be more practical to buy another car than to attempt repairs.
A 4-door car is always less expensive to insure than the same car in a 2-door model. For insurance companies, the number of passenger doors describes the type of vehicle, where 4 doors translates into family car and 2 doors means it's a sports car. Similarly, the smaller the engine size, the lower your premiums. For insurance companies, lowering the potential for speeding or other shenanigans also reduces the cost of insuring the car.
Safety features count. It is much cheaper to insure a car with side impact airbags than one with only a safety belt. Safety features that save you money include anti-lock brakes, electronic stability control, airbags, and even some types of on-board computer system. Again, reducing the potential risks is the name of the game when it comes to saving money on car insurance.
Your own statistics will affect the cost, as well. Drivers over 25 receive an automatic discount, for example, as well as people with a college degree. Many occupations are also given discounts, including emergency service workers, military, and professional occupations such as architects and lawyers. Getting a free online car insurance quote from an independent broker like this website can help you find the most discounts available to you.
Answered April 22, 2014 by Anonymous