Cars With Lowest Insurance Rates

Many often wonder about how they can reduce their insurance rates after they purchase a car. There are several tips to cut your costs after you’ve purchased a car, like passing a safety-driving course or switching insurance companies, but these can either cost money or be a hassle. One way to have a low insurance premium is to purchase cars with lowest insurance rates around. Other ways to reduce your insurance costs — maintaining a good driving record, moving to a safer area, and so on, take time and won’t save you money immediately.

Purchase Pre-Owned When Looking for Cars with Lowest Insurance Rates

Tip No. 1: cars that are pre-owned — formerly called “used” or “old” — are cheaper in just about every way. Not only do brand new cars often shed 20 percent of their value when you drive them off the lot, they also are a higher risk because they are prone to more damage. Vehicles that aren’t worth much are generally cheaper than new cars, and therefore fit in the category of cars with lowest insurance rates. Of course, you don’t want an old clunker that is going to cost you more in repairs than buying a brand new car. But you do want to try to find something that’s cheaper in cost, repairs and car insurance. If you do buy a new car, try to find one with good safety features. Some new cars should be considered safer than older cars because of the new features companies are putting in.

How Companies Choose the Cars With Lowest Insurance Rates

Generally, companies start by considering the sale price of the vehicle, and then factor in the car’s history. Flashy red cars and sporty, young-looking vehicles will almost always have higher premiums, since they’re more noticeable and more prone to being pulled over by the police. They’re also cast with the same stereotype as young people — who often are known as being more careless yet more prone to buy a sports vehicle. Flashy vehicles are also more likely to be broken into, since they’re more noticeable and wanted. Insurance companies will also factor in how much the car is driven every year, so if you purchase a pre-owned vehicle that’s been driven a lot, make sure to tell your agent if you plan to drive much less and if you live close to work.

Finding an Objective Source to tell you about Cars With Lowest Insurance Rates

Almost any car dealer will tell you that their car is reliable, safe and will give you a good insurance rate. Of course, that’s their job — to promote their vehicles and to sell them to you. One place you can go to for an objective source on cars with lowest insurance rates is the Insurance Bureau of Canada. The laws in Canada aren’t the same as they are in the U.S., but the bureau does rank cars. A 100 ranking is average, so a car that ranks 80 will definitely not be the car you’re looking for. You can also look up satisfaction ratings in Consumer Reports. Consumer Reports will generally review vehicles based on safety, and not as much regarding insurance premiums. However, the overall safety of a car will affect its insurance ratings.What if you still want to trim premium costs? Other ways to reduce your premium include: raising your deductible, axing the collision coverage and keeping only the liability, installing some type of safety feature that would deter thieves, and getting a job closer to work. Go to the top of the page and enter your zip code to receive your free car insurance quote today.