Buying a new car is an exciting event for most people but don’t let the new car insurance that goes with it spoil the fun. Whatever new vehicle you’re buying, it’s a good idea to look into the insurance rates that go with it before you make your decision.
If you happen to choose a make of vehicle that is a popular target of thieves, then unfortunately this will increase the insurance rates of that vehicle. You can check the Top Ten List of Stolen Vehicles that is compiled by the Insurance Bureau of Canada (IBC) every year. The more difficult it is to steal your car, the lower the insurance rates will be. Installing a theft deterrent system can qualify you for an insurance discount with some insurers.
Besides possible theft, another factor influencing insurance rates is the frequency and average cost of collision claims for the various makes and models. Maybe the car you’re thinking of buying is more expensive than average to repair. Maintenance and repair costs will not only affect your insurance rates but also cost you more to own it so definitely an important factor to consider.
New cars come with many optional features these days for your added comfort and/or safety. Choosing some of the extra safety features such as additional air bags, lane change warning devices, and automatic emergency braking systems, can have a positive effect on your insurance rates as well as better protect you and your loved ones in case of an accident.
While a brand new car holds a special appeal to many of us, choosing a relatively new but ‘previously owned’ vehicle will be cheaper to buy and cheaper to insure. If you do go this route, stick with newer used cars, since they come with more up-to-date safety features that will help keep your insurance rates lower.
Whether you’ve already bought a new car or you’re still shopping, feel free to get some no-obligation car insurance quotes from the insurance experts at Mitchell and Whale Insurance Brokers. Contact us at 1-800-731-2228 or firstname.lastname@example.org. We’d be happy to help you save money on car insurance.
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