The Safest Vehicles Can Lower Your Auto Insurance Costs

car safety ratings

A list of the top car safety ratings has been released by the Insurance Institute for Highway Safety (IIHS) and some of the cars with high scores may surprise the masses. What’s even more surprising is choosing a vehicle that is deemed safe under these ratings can make a huge difference in the amount you pay in full coverage auto insurance costs.

IIHS Car Safety Ratings

This week, the IIHS released its list of new car safety ratings that are considered to be among the safest vehicles on the road. 2013 model vehicles making the IIHS list include:

  • Dodge Dart
  • Hyundai Santa Fe crossover
  • Lexus ES 350 sedan
  • Subaru XV Crosstrek hatchback

The four vehicles were among 132 that were awarded the Top Safety Pick designation. The institute rated vehicles based on overall performance, as well as test crashes evaluating front, side and rear impacts, and rollovers.

Safe Vehicles Reduce Liability and Full Coverage Auto Insurance Cost

Many drivers don’t know that driving a vehicle with high car safety ratings can reduce costs significantly on liability and full coverage auto insurance. Since most insurance companies look at the likelihood of accidents and rollovers when determining the cost of coverage, driving a car that meets the grade can help lower your out-of-pocket expenses.

If a vehicle scores high in the car safety ratings, the cost of coverage is likely to drop. But this is just one of the ways you can reduce your auto insurance costs. Others include:

  • Discounts: One surefire way to reduce full coverage auto insurance costs — which is typically the most financially burdensome type of auto insurance — is to search for auto insurance discounts. Companies offer discounts for everything from good academics to driving your car fewer miles, increasing the likelihood of you finding a great deal on the best auto insurance for your needs.
  • Higher deductible: Another way to lower your auto insurance costs is to increase your deduction amount. The higher your deductible is, the less you will pay in a monthly premium, examine how much a higher deductible could impact your auto insurance costs.
  • Bundle insurance: If you combine your home insurance with your car insurance, your insurer is likely to reward you with lower coverage costs.

Also, keep in mind the importance of always shopping around for coverage with different insurers. Purchasing one of the safest vehicles on the road from the IIHS top car safety ratings, shopping around for coverage and utilizing the tips listed above are undoubtedly the best ways to lower auto insurance costs.

Photo:  Autoviva