If you are investing in a car for practical reasons of being able to conveniently transport you and your family from point A to B, then issues like car brand and design features may not matter that much. You will probably be more concerned about running costs like fuel consumption and servicing. Car Insurance Comparison online should be another important aspect to consider as it can impact your finances in different ways. If you are looking to minimize insurance costs, then here is what you should look out for when making a car choice.
Older vehicles are typically cheaper to insure in any country. This is because they are valued cheaper and you have more flexibility in choosing what level of cover to take up. The cheapest option is to just take up liability coverage and drop collision and comprehensive cover. This can substantially reduce your insurance premiums. It also makes sense when the level of premiums you pay is worth almost as much as the value of the vehicle. When choosing an older car, be sure to check on mechanical issues so you do not have to spend even more trying to cover repairs and maintenance.
Lower-powered vehicles are cheaper to insure as they are considered less risky. Even if you accelerate, chances are you will not achieve risky levels of speed that can often lead to devastating accidents. There are many car models, particularly hatchbacks, that are suitable for city and motorway driving, yet set a sensible limit on maximum achievable speeds that insurers like.
No Luxury Brands
High-end brands like Rolls Royce and Mercedes Benz are expensive to insure. Not because they get into many accidents, but rather the high cost of repairs that may need to be covered should an accident occur. Not to mention that owners of such cars like to keep them pristine. That means even very minor damage will likely result in them insisting on repairs being made. Opting to drive a luxury brand car, even if it is an older model, means insurers will have to pay out more for repairs, which drives up premiums.
Vehicles with good safety ratings and come equipped with safety features like reverse parking cameras, tracking, and anti-theft devices will receive lower premiums. Many insurers will offer safety discounts that can reduce the cost of your car insurance. Anything that enhances the safety of passengers, reduces the risk of collisions and property damage will help here. Be careful when buying a used car. Many are recalled models whose defaults may not have been corrected. Look into the history of the model you are considering buying and ensure that if there was a recall, the problem was fixed.
Crime Prone Models
Some car models are popularly targeted by criminals for theft. Enquire with your local police or insurers to find out which models are most targeted so you can focus on alternative options. Especially, if you lack secure parking. This may increase the likelihood the vehicle will be stolen or vandalized for parts. Your premiums will likely also be higher due to the comprehensive cover component that also covers theft.