You went for a test drive and fell in love-good gas mileage, affordable price, nice dash, and the car handles great. But other factors should weigh in when buying a new car like insurance rates. Generally, more expensive cars are more expensive to insure, since repairs tend to be more costly and luxury vehicles are often a target for theft. So how can you reduce insurance costs and still buy a car you like?
Choosing the right car
You don’t have to choose the most humble-looking car on the lot. You can look for a number of car features that can positively affect insurance rates, such as safety and anti-theft features.
Safety features can help lower premiums
Safety enhancements can keep your insurance costs low because they can make collisions less likely and, in the case of occurrence, less serious. Some car manufacturers list certain features as being standard while others list them as optional and charge extra for them. Check if the following safety features are standard or optional when you shop:
- Front and side curtain airbags
- Telescoping or collapsible steering wheel to reduce driver injury
- Adjustable head restraints
- Daytime running lights
- Anti-lock brakes
Anti-theft protection can shave car insurance costs too
You can add anti-theft devices to make your vehicle harder to steal, such as an immobilizer. It’s an electronic device that stops thieves from starting your vehicle without the key. Other anti-theft devices include steering wheel locks, a car alarm, tracking system, and/or parts marking.
What should my car insurance include?
The idea of car insurance is to protect you and others involved in a collision. But there are layers of coverage, some mandatory, and options you can add to pad your policy against additional risks and related costs.
Liability insurance (mandatory)
Personal injury insurance will cover medical expenses.
Collision insurance (optional)
Collision insurance will help cover the costs of any damage to your car, including repairs or replacement.
Comprehensive insurance (optional)
Comprehensive insurance coverage extends to protect your car against theft, vandalism and other risks (i.e. weather-related damage).
Still unclear what to look for in your car policy? An independent insurance broker can help you to find the best coverage.