You\u2019ve done your due diligence, researched all the vehicles with Five-Star Safety Ratings, and chosen a Top Safety Pick as your new ride. Good for you. Protecting yourself and your family on the road is wise and commendable.<\/p>\n
Better yet, you can\u2019t wait to call up your auto insurance agent<\/a> and inform him of the wise choice you\u2019ve made so he can gleefully announce the big savings that await you and your new ride. Hopefully, part of your initial research included conferring with your insurer to discuss how much lower your car insurance premiums would be, if you bought a safer car.<\/p>\n This, unfortunately, tends to be a common error made by some new car buyers who wrongly assume that safer vehicles mean big savings on their insurance rates. This isn\u2019t necessarily the case because, all things considered, there are other factors that influence your auto insurance premiums and paying more for a Top Safety Pick doesn\u2019t automatically translate into annual savings on your car insurance<\/a>.<\/p>\n Factors you may also want to take into account are:<\/p>\n Don\u2019t simply judge the vehicle by its safety rating. Keep in mind, the higher the price tag, the more it will cost you to insure. And, as with all new cars, you\u2019ll be required to carry collision and comprehensive insurance, both of which will raise your premium since your auto insurance company will have to pay out the vehicle\u2019s market value if it\u2019s stolen or you total it.<\/p>\n It goes without saying that new vehicles today have become quite expensive to repair or replace because many of their components are comprised of more costly materials. For that reason, collision and comprehensive, which cover your vehicle for damage sustained in accidents, theft, storms and vandalism can be relatively higher.<\/p>\n The history or reputation of the vehicle with other drivers is an important consideration with auto insurance companies. The type of driver associated with the vehicle you\u2019ve chosen can typically dictate how an insurer will set the premiums \u2013 high or low. Mini vans, for example, are mostly driven by parents or soccer moms to transport kids. As a result, they tend to be fairly inexpensive to insure.<\/p>\n1. Market value of the vehicle<\/h2>\n
2. Expense of repairing the vehicle<\/h2>\n
3. Overall reputation of the vehicle<\/h2>\n