Taking the Confusion out of Car Insurance Buying

If you are looking into insuring another car, get ready to do some research. Car insurance buying has become almost a spectator sport, with excitement around every curve because of all the variables in the game.

Car insurance strategy is necessary to help save you a lot of money over the long term. For instance, it’s helpful to know that sporty cars with big engines are usually more expensive to insure than a car with the highest safety rating, according to Cars Direct. Seems like common sense, but there are some other factors that affect rates many people may not consider. Other research shows that larger the SUV, the larger the higher insurance rates will be. It is more expensive to repair the damage caused by large trucks and SUV’s involved in accidents. Commuter vehicles pose less risk for insurers.

Tools for Research

Smart shoppers know how to use online research tools like consumer review sites. Even car insurance companies have gotten into the act, offering similar useful sites like the Car Insurance Comparitron that will calculate your approximate rate based on a variety of accountable factors including the make, model and year of the car you drive, your driving record and even the color of the car!

A Few Smart Options

It is safe to say that insuring a Jaguar is going to cost more to insure than a Saturn Vue. Some of that increase is related to what underwriters consider “riskier” driving patterns among typical owners. Put it this way: If you have a high-performance engine rumbling beneath your feet, insurers just know that at some point you are just going to put some pedal to the metal.

But that’s normal for widely different cars. When comparing similar cars, insurance costs can vary widely. A comparison of annual fuel costs for sedans by the US Department of Energy shows that operating a 2012 LaCrosse eAssist costs $750 more per year than a 2012 Toyota Prius. If you also save $350 a year (a conservative estimate) on accident protection, you can save more than $5000 dollars during the first five years of ownership by choosing the LaCrosse.

Savings On Purpose

Some suggestions for saving on car insurance from Allison Klein of How Stuff Works, include choosing smaller SUV’s or using your larger SUV as a carpool vehicle. Klein says that insurance companies offer discounts for drivers that rack up fewer miles commuting solo. Making decisions that reduce costs is one way to save on purpose.

Ready To Compare?

The fastest way to compare several auto policies at once is by visiting an insurance comparison site. It is easy to get the rates for several vehicles while researching online. When checking individual cars, compare a variety of companies for coverage. Remember to compare the exact coverage to get an accurate comparison.

Getting The Most Out of Car Insurance Comparison

James Burrows, an agency owner for the past thirty years, says the best way to successfully compare car insurance rates and services is to get everything in writing. You could call your own agent or visit their website to get started, call several company’s toll-free numbers, or visit a car insurance comparison site. While all methods will get you information, visiting a one-stop comparison site is more efficient and will allow you to print everything at one time.

Shopping for a new car with an eye on the budget means you have to compare leasing and finance options, evaluate brands, research performance and more. Saving money on the purchase price and car insurance can bring bigger dividends down the road.

Authored by: Justin Jones Fresh out of college, Justin was a claims adjuster for one of the big three insurance companies. He left three years ago to become an industry watchdog and blogger.

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1 Comment

  1. Kendra
    January 21, 2013 at 3:05 pm — Reply

    What a clever site this is. Look forward to browsing this again again.

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