What Type of Car Will Lower My Auto Insurance?

Lowering an auto insurance premium is a big deal when trying to cut corners financially, which is why so many people wonder if the type of car they insure will make a difference in the price. The good news is that it will. Lets look at just how this happens.

How Does the Type of Car Make a Difference?

There are several reasons that the type of car you buy affects your auto insurance premium. Lets look at what a few of them are:

  • Some cars are in more accidents. One car that seems to automatically merit a higher auto insurance premium is the fast convertible. Statistics show that it is the leading cause of traffic accidents because it attracts young drivers who love to speed. Also, because it is often more affordable, more people can buy it. As a result, it is likely to cost more.
  • Some cars have a higher history of theft. Cars that are attractive and fun to drive often come with higher premiums because more people want to steal them for joyrides or to sell the parts. As a result, sportier cars tend to cost more than other minivans because of the risk involved in them being stolen.
  • The cars publicity can affect the rates. Most people dont think of this, but you may have a problem finding a lower auto insurance premium for a car that receives a lot of publicity one that celebrities mention often. If the vehicle is popular, then it is more likely to attract thieves as well. As a result, insurance companies typically hike the price for the vehicles popularity.

What Car Can Lower My Auto Insurance?

Aside from the type of car you buy, there are other factors that can make sure that your auto insurance premium isnt too high:

  • Be a low-risk driver. Insurance companies determine the likelihood that youll drive recklessly or pay responsibly based on a number of risk factors, including your driving history, health, age, and credit score. To become a low-risk driver, which lowers your premium, try to keep a good driving record and improve your credit score. Being a little older doesnt hurt either.
  • Drive responsibly over a period of time. Another factor to help lower your rate is to stick with the same company and maintain a good driving record for years. Many companies will offer discount rewards if you show your level of responsibility in this way.

Probably the best way to ensure you will receive a lower auto insurance premium is to consult with several insurance agencies before purchasing the car. However, knowing the type of car that will typically cost less along with other key factors can help you find some of the lowest rates out there.