Do Crash Safety Ratings Affect My Auto Insurance?
When it comes to auto insurance, there are dozens of factors that influence the premium rate consumers have to pay. Auto insurance costs fluctuate based on age, gender, accident record, occupation, location, credit history, vehicle type and miles driven annually. Additionally, the make, model and crash safety ratings of the vehicle can also influence the cost of your auto insurance policy.
Cars with High Crash Safety Ratings Get Lower Auto Insurance Premiums
Amy Danise, Editor of Insure.com stated that “buying a safe car not only makes common sense, but also smart car shoppers can expect to be rewarded with years of lower car insurance premiums.” Who would not want that kind of protection both from collisions and financial expenditures?
How are Safety Ratings Determined?
When it comes to weighing the formula used for generating auto insurance premiums, the crash tests results for a variety of vehicles are all considered. Historically, cars with higher crash test ratings have a better chance of protecting their passengers, meaning they are more than likely to withstand the impact of an accident better than poorly rated vehicles. Insurers will charge less for coverage as in the long run it will cost less to repair the vehicles and to cover passengers injured while riding in a highly rated vehicle.
Buying a new car is a thrilling experience, and aside from the glamor the car provides, you should truly review the crash ratings of a vehicle before deciding what to buy. In the long run, you will save money on your auto insurance by purchasing a safer vehicle with higher crash ratings. Annually the National Highway Traffic Safety Administration (NHTSA) conducts crash tests. The goal is to gauge how well vehicles will protect passengers in both side impact and head on collisions. The ratings from these tests and many others conducted around the nation determine the safety levels of vehicles. The safer the vehicle, the more cost effective your auto insurance rates will be.