Modest Cars Save On Auto Insurance
When you finally get around to shopping for a new set of wheels, you may be looking for a dream car that looks good, is sleek and fast and probably more than a person can afford right now in this economy. Sure, you don’t want to spend a ridiculous amount of money on a car, but you also can’t get the image of you behind that glossy foreign convertible out of your head.
A new article from InsuranceAgents.com, ‘Most Expensive Cars to Insure: Make and Model Matter,’ illustrates why daydreaming about a fast and expensive car can cost you thousands of dollars in the long run. Drivers who want to save money on their car and their car insurance need to keep in mind that the make and model of their car will affect what they pay for both.
“Some cars yield affordable car insurance; others come with big price tags and big car insurance premiums,” states the article. “Insurers look at your credit history and your driving record when calculating the cost of your car insurance. But the type of car you are driving is another deciding factor and a car insurance agent will set your car insurance premium accordingly.”
The reasons the make and model of your car will define how much you pay for your auto insurance include:
• Replacement factor - The more it costs, the more it’ll cost to replace if it’s destroyed in an accident or is stolen.
• Repairs - Costly cars usually have costly parts. Some inexpensive cars may still have parts that cost a lot to replace.
• Age. If you’re a young driver, you can bet auto insurers will hike up your premium because statistics show that the youth are more inclined to have “lead feet” and speed.
Remember, in hard economic times like the one the country is facing now, everyone is affected. Money is tight, insurance rates are skyrocketing across the country, and job security isn’t what it used to be. If you can afford your car and insurance now, you may not always be able to. Investing in a modest car that isn’t too expensive to fix if it needs to go to the shop will most likely yield the most affordable car insurance. Also, shopping online for auto insurance quotes is another way (probably the fastest and easiest) to save money on premiums.
staff contribution: Meha Ahmad
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