The Idea Zone

What Kind of Car Gets the Best Deal in Insurance Premiums?

If you are somebody that cares about expenses, the amount of car insurance premium will factor into the choice of your car. Some cars always require a higher insurance premium than others, and a number of factors determine the premium.

Luxury cars always incur higher insurance premiums. There a few reasons for this. For one, luxury cars cost a fortune to repair; some cars need to be shipped to their countries of origin to get them repaired. Even where local repair is possible, every single part of a luxury car, however insignificant, comes with a large price tag which the car insurance provider has to bear. So they charge you for that extra financial risk; a Mustang or a Corvette will cost you much more than a cool sedan. A Ferrari or a Lamborghini? – well, if you can afford one, you probably don’t have to worry about insurance; nevertheless, it is going to be a lot.

The other reason for the higher premium is that these are race cars; their engines don’t run too well below 80 mph! At those speeds, these expensive, fast cars are much more likely to get into an accident than a sedate sedan. Thus the premium gets bigger.

While the above factors are offset by the fact that these high end cars also come with many safety precautions, it is also a fact that most normal safety features on which the premiums depend also come with most mid to low priced cars these days. In the US, there will be very few cars without Anti lock braking, air bags, and other safety features of the usual variety.

So, if insurance premium is a matter of concern, a compact or a sedan is the best choice. These are comfortable cars, they take you from point A to point B, and they don’t cost an arm and a leg on insurance.