When you are looking to purchase a new or used car, it is strongly recommended that you contact your car insurance company, as well as a few others, to obtain quotes for the type of cars that you are considering purchasing. Many people think that the value or purchase price of the car affects how much your auto insurance policy will be. And while this is one of the factors that can affect it, it is not the only one. You will find that your policy price will vary even when debating between two cars that are similar in price. Here are a few of the factors that affect how much car insurance will be for certain types of cars.
The Size of the Car
The size of the car affects how much insurance will be. Most people do not realize it, but smaller cars typically cost more to afford. This is because those in smaller cars are more likely to be injured in a car accident. Additionally, it often costs more to repair these cars after car accidents, as more damage may be done. If you are looking to keep your car insurance expenses low, a larger car may actually be cheaper to insure than a smaller one.
How Much the Car Costs to Repair
Another key factor that affects how much you will pay when insuring a vehicle is how much the car costs to repair. An insurer keeps records of how much it costs when certain types of cars are involved in accidents. Some cars are more likely to sustain more damage, while other cars may have more expensive parts or parts that require more labor to replace. An insurance company keeps track of all of this information and if a car is expensive to repair, it will be more to insure.
The Likelihood of the Car Getting Stolen
The last factor that affects how much insurance companies charge to insure certain kinds of cars is what the likelihood is of a car getting stolen. Criminals are more likely to steal certain types of cars. These cars may have parts that sell for more or the cars themselves may be easier to steal. Insurance companies track which cars are more likely to get stolen in certain areas and then adjust the cost of insurance based on this risk.
Before purchasing a new vehicle, take the time to obtain auto insurance quotes for the new car. This helps to give you an idea as to what your auto insurance rate will be for the new car, ensuring you can afford the price of the car payment plus auto insurance. Visit a site like http://www.sldins.com for more help.