The Cost of Insuring a New Car
More to the sticker price than meets the eye!
Buying a new car can be a very exciting and overwhelming experience. Sorting through options, makes, models and features is enough to make your head spin. Not to mention the financing and car insurance costs. However, being prepared before you shop can help make the buying process quicker and easier for you!
Identifying the ideal car for you.
Before heading out to the car dealership, make a list of what you are looking for in a new car. As you are writing the list, think about the same concerns a car insurance company would consider when quoting you a rate, such as:
- How do you use your car?
- How many passengers do you typically carry?
- How often do you drive your car?
- Where do you drive?
These factors will help you pinpoint the best car for you, while also helping to potentially keep your car insurance premium down.
Features to consider before you buy.
Make a list of all the features and options that are important to you, such as head and leg room, transmission type, engine, trunk size, airbags, security system, anti-lock brakes and other safety features. Car insurance companies often give discounts for some of these items; saving you significant money on your overall quote.
Also, check out auto manufacture’s websites. Many have special pages that let you “shop” for your dream car – giving you the opportunity to select the features that are important to you, while also providing you with the true cost of these “extra perks.”
The cost.
Before you buy you should always factor in all costs involved with buying a new car, including sticker price, gas, maintenance, financing rates, taxes and car insurance.
How much you pay for your car has a powerful effect on your car insurance premium. A luxury car with all the latest safety features will typically cost more to insure than a no-frill economy car, due in part, because the higher-priced car may be more expensive to repair or is more likely to be stolen.
Yet some cars do consistently get better deals on car insurance rates than others. For example, a $14,000 Dodge Neon costs about the same amount to insure as a $34,000 Volvo XC70.
Why, you may ask?
The Volvo tends to receive a bigger insurance discount because it inflicts less damage to other cars in an accident, suffers less damage, has a lower theft rate and protects its passengers better in an accident.
According to one national insurance provider, the Dodge Neon does worse than the average car in all three categories, equaling the reason why it costs so much to insure.
Do your research!
Not only do you need to look at what your new car has to offer, you also need to do some background research as well.
Car insurance premiums are based partly on the price of the vehicle, which affects the replacement cost if it is stolen or “totaled” in an accident. How expensive the vehicle is to repair – including parts and labor – can also impact your insurance rate. In addition, surcharges may apply to vehicles that are frequently stolen or involved in accidents.
To find out if that next dream car might be more than you bargained for, visit Highway Loss Data Institute’s website. Here you will find industry-wide information on injury claims, collision repair costs and theft rates by vehicle model.
Comparison shop before you buy.
Before you make your final decision, visit www.SteveBedgoodAgency.com we’ll find you the best car insurance rate we offer. There, you’ll be able to learn more about us before giving us a call at (231) 744-9099.
Tags: Best Car, Brakes, Buying A New Car, Car Dealership, Car Insurance Companies, Car Insurance Company, Dream Car, Economy Car, Insurance Car, Insurance Costs, Insurance Premium, Leg Room, Luxury Car, Models, Overwhelming Experience, Safety Features, Safety Insurance, Security System, Sticker Price, Transmission Type
November 2nd, 2009 at 8:13 am
Hello,
I’m Steve Bedgood. You made a comment on my Blog. If you’d like to elaborate, I may post it for everyone to read. Just go back to my Blog and say what you had in mind.
Thanks for your interest,
Steve
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January 15th, 2010 at 9:15 pm
Thanks for the nice comments. I checked out your site.
It looks good.
January 15th, 2010 at 9:46 pm
Hi Michelle,
Thank you so much for your kind words.
I have trouble from time to time thinking of new content too.
I looked at your site also. It’s a noble idea, to help us guys not make fools of ourselves.
I read a little. I think, making sure they practice “out loud” would be a good idea. Even though they are well prepared and the speach is well thought out, having practiced it out loud a few times will give them the extra confidence they need, especially if they are not used to speaking publically. (You may have already suggested this. I didn’t read everything you’ve written.
Also, if they have more time, they may want to check in to an organization called Toastmasters International.
Best wishes,
Steve
January 16th, 2010 at 8:50 pm
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January 17th, 2010 at 12:33 pm
Hey just wondering how you went aout setting up your site etc. I’m fairly new to the whole internet thing, Was the platform easy to install
January 17th, 2010 at 6:00 pm
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January 17th, 2010 at 8:10 pm
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Keep up the great posting.
January 17th, 2010 at 10:55 pm
Thank you Steven,
If there’s a subject you’d like covered, just let me know.
Steve
January 17th, 2010 at 10:57 pm
Hi Graig,
Thanks for your nice comment.
If there is a topic you’d like me to cover, just let me know.
Steve
January 17th, 2010 at 11:06 pm
Hi Arthur,
My brother set this up for me. It’s what he does for a living. He’s very reasonable.
His name is Chuck Bedgood. You can reach him at 231-788-2397 or support@muskegoncountybusiness.com. Give him a call and he can set it up so you just have to make entries.
Steve
January 17th, 2010 at 11:12 pm
Porfirio,
Thanks for your kind words. If there is a topic you beleive I could help you with, just let me know.
Steve
January 18th, 2010 at 6:11 pm
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January 21st, 2010 at 3:21 pm
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January 24th, 2010 at 7:27 pm
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January 27th, 2010 at 8:36 am
Thanks Ezekiel,
If there are other car insurance topics that would help you, just let me know.
Steve
January 27th, 2010 at 8:37 am
Thank you Adolph,
If there is a way for me to help you, just let me know.
Steve