Whether you bought a new car or you have ol’ reliable carting you around, you need car insurance that offers complete coverage at a good price. But before you decide on your vehicle, you should always consider what factors affect your car insurance rates.
There are a myriad of vehicle factors that impact insurance, ultimately guiding your thinking when investing in your new ride. From how quick it is, to how long it’s been around, there are several vehicle factors to consider to end up with low insurance costs.
Here are five of the big ones you can change.
1. The cost of modifications
You always want your car to look like it came fresh from the shop, even if you have had it for a while. But be wary of what type of upgrades you want to add to your vehicle. Some modifications could trigger a spike in your insurance when you least expect it.
For example, if you make adjustments to improve your car’s horsepower, prepare to pay a higher premium for it.
On the other hand, should you decide to go hybrid and make your car environmentally friendly, insurance costs won’t necessarily change. Depending on the hybrid, hybrid vehicles use state-of-the-art electronic components and parts which are costly to repair and may impact insurance costs.
Always check to see how modifications raise or lower your car insurance before buying them!
2. Size matters
You will find that larger cars are safer than smaller vehicles when it comes to accidents, so those cars are more likely to receive lower premiums and high safety ratings. When it comes to engines, however, larger is not always better—power is not a directly rateable factor. What factors affect your car insurance rates tend to centre on safety features, not performance.
3. Body style
If your vehicle is a two-door or four-door, this will also be a determinant of your insurance cost. If your vehicle is large and carries many passengers, chances are your costs for third-party liability coverage will be higher.
Contrary to popular belief, two-door vehicles aren’t inherently more expensive, so getting a four-door sedan isn’t a straight shot to lower your car insurance. However, engine size and model risk rating are factors, and many two-doors yield high rates due to these categories.
4. Car trim
When considering trim levels, wondering how flashy you want your vehicle exterior or interior to look, remember these come at a cost:
- Custom graphics
- Specific brand of material for your interior
- Special paint
- Custom rims
- New suspension
- Window tinting
- Upgraded exhaust
- Upgraded stereo
They all look nice, but that also increases the cost to replace your car. As a result, collision and comprehensive coverage costs will increase. If you want your car to look flashy, be prepared to pay flashy insurance costs in order to keep it covered and maintained. What factors affect your car insurance rates outside of safety often have to do with the cost of repairs, so make sure you’re willing to pay higher premiums before you upgrade your vehicle!
5. Model and age lower car insurance the most
The type of car you buy can influence insurance costs. It is widely considered that if your car is an older model, you should get better savings on your insurance.
Furthermore, if your car is a younger model, you could pay higher collision coverage rates should you meet in an accident. Older vehicles, although cheaper to fix, could still return a high premium depending on the rate group the vehicle belongs to. Rate group is determined by the collision statistic history of that model of vehicle.
If you’ve considered all this and are looking for good vehicle coverage, contact aha insurance today and see the light when it comes to your insurance!
