When you purchase a new car there are one hundred and one models to choose from which ideally will leave you overwhelmed. Well, you must be reasonable enough while selecting a model even if you can afford to buy the best. This is because you will also have to keep the insurance factor in mind, which most of the reckless purchasers tend to forget while choosing a car.
Remember, along with the price of the car will come the cost of insurance, which can be pretty high and vary according to the model you wish to buy.Therefore, your focus should also be on finding the cheapest car to insurewhen making a new car purchase.
At this juncture it may seem to you that this is not a difficult task as there is n-number of websites that will provide you with a list of cheapest cars to insure and help you to choose the most suitable one for you. However, this is not so easy because you will need to consider several other factors as well the make the most prudent and feasible decision.
Follow a list
This is the first thing that you should focus on while shopping for a new car. Ideally, the cost of insurance will vary according to the car cost and at times it may seem to be pretty difficult for you to arrive at a decision. Fortunately, a lot of studies are made every year to enlist the cars that will cost you least in insurance. Such a list will help you in many different ways apart from helping you to make the right choice.
- Since you are already ready to spend a huge sum of money on buying a new car, this list will help you to know the models through which you can save hundreds of dollars each year on insurance cost and even on maintenance of your car.
- The list will also help you to know how your choice of car can make your car insurance expensive or cheap by looking at the different other factors apart from the car itself.
Therefore, such a list that will help you to choose a car that the insurance company will charge you too much will definitely prove to be handy and useful reference tool.
Know the average cost
Right at the outset, you should know about the average cost of car insurance. This idea will help you have a fair idea about the different insurance statistics and in turn help you to choose the right model of the car. According to the reports it is found that:
- The national average cost for car insurance is $1,605 a year
- However, the top ranked “least expensive” car to insure will cost you about $1,112 per year and
- All premiums for all cheapest cars to insure typically ranges from $1,112 to $1,203 per year.
These figures show how much you can save due to lower price of insurance when you buy a car that is least expensive to insure.
Compare with other cars
Do not jump into any conclusions without comparing the insurance cost on other cars and other insurance companies. Sticking to a single car model or an insurance company will limit the peripheries to choose from. Therefore, make sure that you know and compare how much other cars can save on insurance.
According to the data of Insure.com that researched on the annual cost of car insurance in 2017 you will get a fair ideal of such savings. This is a good guide for the National Average expectation for cars costing less on insurance because the research company reviewed about 20 cars of different models including the most expensive cars to insure apart from the cheapest ones. This ensures that this report is comprehensive and will be most helpful for you to make the final choice decisively.
The chronological list of insurance costs of different cars that costs between $1,204 and $1,221 per year on insurance is as follows:
- Mazda CX-3
- Honda Pilot LX
- Fiat 500X Pop
- Nissan Frontier S
- Hyundai Tuscon SE
- Subaru (XV) Crosstrek 2.0l
- Honda HR-V LX
- Ford F-150 XL and
- Ford Edge SE.
When you use the information in this list to choose the cheapest cars to insure you will not only be able to make the right choice but it will also help you in several other ways such as:
- It will prove to be a good indicator of the cheapest cars to service and maintain as well which in turn will help enable you to save hundreds of dollars and
- It will also be an indicator of all the potential problem areas of insurance because the rates of insurance are typically estimated by the insurance company by collecting the data of all the occurrences with the specific car.
It will also indicate how insurance for a car becomes cheap or costly.
- Ideally, an insurance company has to insure hundreds of cars of any particular model in a year. This means that in the end they are the ones who will know best about the frequency in claims and the nature of it as well. If they find a common issue in the particular model of the car, they will cleverly keep it outside the coverage of the insurance policy.
- Moreover, longer the insurance company is in business, more cars will be insured by them. This means they will have more data of the specific type or model of a car which will help them to calculate a fair rate which may be fair for them but not for you. This is because when they notice a spike in incidents such as thefts of that particular for example then they may increase the rate of insurance as well.
- As for those brand new models of which the insurance company has no data, the rate will depend on what the company predicts as threats or performance metrics of the car along with the safety features.
The best way to know about car insurance rates is to refer to the National HighwayTraffic Safety Administration rules and then make a purchase.