Insurance Rates for New Cars
When looking for the right car to invest in, you probably consider many factors, such as the color, comfort, and price. However, it is also important to consider how the car you choose will affect your auto insurance rates. Failing to think about auto insurance premiums when buying a new car can lead to thousands of extra dollars spent each year.
One of the biggest determining factors when figuring out auto insurance premiums is the size of your car. Smaller cars tend to be more expensive to insure, since they tend to be driven by young, risky drivers, leading to more accidents and higher claim rates. Larger cars tend to be driven by older, more experienced drivers, which can lead to lower premiums. However, since large cars will also cause much more serious damage to other vehicles during a crash, it can also cause the premiums to increase.
Insurance companies will also look at the cost of a car when determining the auto insurance costs. Since cars that have a higher value tend to cost more to fix, they will come with higher insurance rates. If you are looking for a way to help save some money on your auto insurance premiums, look for a less expensive car.
The engine in the vehicle will also have an impact on the cost of your auto insurance. Cars that have more horsepower are likelier to be driven fast, making them more expensive to insure. Lower horsepower cars can help you save some money on your premiums.
Contact the insurance professionals at Steve Wilk Insurance Agency in Lombard, Illinois for more information on the least expensive cars to insure. We will work with you to ensure that you have the right amount of auto insurance, all at the right price for your budget.