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6 Vehicle Qualities That Can Raise Car Insurance Rates

for Bradenton, Sarasota, Lakewood Ranch and Beyond
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Jul 07, 2016

When you’re shopping for a new car, the last thing on your mind is often the insurance you’ll need to operate it. And while auto insurance is impossible to avoid, there are some things you can do to ensure the lowest rates possible.

For instance, did you know that the very features and qualities of your selected vehicle can affect how much you dish out in monthly insurance fees? When shopping around for new transportation you must “know before you go, and these tips from Bradenton Insurance will help you lock in prices that are manageable for your total transportation budget.

1. Safety rating

Not only will highly rated vehicles keep you safer on the road, but they will also assist in securing lower insurance rates. Vehicles certified as being safer will lower the chance of your insurance provider having to pay for passengers’ medical bills, and therefore lowering your overall rate. Safety features to look for when buying a vehicle include:

  • Airbags
  • Automatic seat belts
  • Traction control

2. Price tag

Often more high-end and premium vehicles with higher price tags cost more to insure because repairs and replacements are pricier. If you choose both collision and comprehensive, your insurance company will have to dish out for any body repairs or replacement if stolen or totaled in an accident. This payout is based on the car’s market value, so the higher yours is, the more your insurance will cost.

3. Vehicle size

Typically, the larger the vehicle, the safer it is considered to be and therefore the cheaper it is to insure. Also consider the size of the engine. Cars with considerably high engine to body ratio, such as a sports car, tend to cost more to insure, whereas a smaller vehicle with a V4 engine will be more affordable.

4. Age of car

In essence, the older the vehicle, the more likely it will be considered “totaled” in a car accident. Estimators total a vehicle when the cost of repair needs are higher than the vehicle’s actual worth. And since your old jalopy has been depreciating every year, the older vehicles are more often on the chopping block than newer cars. Since the cost of replacing a new vehicle in this instance is so much higher, collision coverage for newer models are considerably higher.

5. Theft magnets

Some cars are more prone to theft, therefore insurance companies charge more in rates for these types of vehicles. Not only do you not want your car stolen, but you do not want to fork over more for insurance every month than you have to. Be sure to research the top most stolen vehicles before hitting up the sales lot. Also, look for vehicles with anti-theft features that can help lower your rate as well, like automatic locks and an alarm system.

6. Horsepower

If you want a fast-and-furious car, you’re going to pay more to get it insured. Your vehicle’s horsepower is another factor insurance companies take into consideration when issuing rates. The faster and speedier a vehicle, the more prone it is to irresponsible driving. Which in turn, can mean more accidents and a higher price tag to insure. Sports cars are generally one of the highest types of vehicles to cover with an insurance policy.

Other Considerations

Rates differ from vehicle to vehicle and from company to company. When you’re searching for your next vehicle, it’s important to know the qualities of the car itself that will make insurance prices soar. These insurance tips will help you be prepared on your next hunt.

And remember, the best insurance doesn’t necessarily mean the lowest price. You want to make sure you’re getting the best coverage for the cost, and not skimping in areas that may be important in the future. To consult with an independent insurance agent today visit Bradenton Insurance, so we can give you the best coverage at the best cost, and answer all of your questions.

Bradenton Insurance

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