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These Models Cost Less to Insure

These Models Cost Less to Insure

The Hidden Cost of New Vehicles

When most people are in the market for a new vehicle, they’re willing to go to great lengths to ensure that they get the best possible deal. They’ll negotiate with the car dealership, search for the best auto loans online, and check out dozens of reviews for every car on their list. This raises the question, why are we are we willing to do whatever it takes to get the lowest prices on our cars, but not our car insurance? Despite ever increasing rates, few of us realize just how costly auto coverage can be, especially for new vehicles. Many people are shocked to see their new premium after purchasing a vehicle, which is why insurance costs should be a major consideration in purchasing a new car. It’s important to remember that your policy will almost certainly increase if you’re trading in an old vehicle for a new one – you’ve been getting off easy with an older car, but that’s all about to change. You can help minimize the sting of increasing premiums by factoring them into your budget before you buy. Here’s a look at the ten cars with the lowest average premiums in 2008 and some tips for new car buyers:

Least Expensive Cars to Insure in 2008

  • Chrysler Town and Country - $940
  • Ford Escape - $1,022
  • GMC Sierra Pickup - $1,026
  • Chevrolet - $1,091
  • Ford Econoline Club Wagon - $1,119
  • Ford Fusion - $1,133
  • Ford F-Series Pickup - $1,156
  • Honda Civic - $1,163
  • Toyota Camry - $1,165
  • Toyota RAV-4 - $1,165

Getting Low Premiums for New Vehicles

  • Cars with smaller engines usually have less expensive insurance and vice versa for those with larger engines. That’s because vehicles with smaller engines drive slower, so they cause fewer accidents and do less damage when they do have one.
  • Of all new vehicles, full sized-family sedans are generally considered the safest and carry the lowest rates. Drivers tend to be slightly older and have children, a part of the population that insurance providers believe are some of the safest drivers.
  • In some cases, American-made vehicles are less expensive to insure because their parts are easier to obtain.
  • Safety ratings play a vital part in determining premiums. Vehicles with five-star safety ratings are much cheaper to insure than comparable vehicles with lower ratings.
  • Finally, susceptibility to theft is also a factor in insurance premiums. Models with a long history of theft typically see higher insurance premiums, even with anti-theft devices installed.
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