Lower Your Car Insurance Premium When Car Shopping

Safety

The safer your vehicle, the more discount opportunities you’ll have for your auto insurance. Many car insurance carriers offer discounted rates if your car has certain safety features, such as anti-lock brakes, anti-theft devices, motion sensors, lane assist technology and GPS tracking devices. When shopping for a new vehicle, look for cars that have these features to save on your policy.

Engine Size

Typically, accident rates are higher among cars that have bigger, stronger engines and therefore can achieve higher speeds. When car shopping, keep engine size in mind, as buying a car with a bigger engine may increase your premiums due to the way insurance companies perceive your accident risk.

Older Cars

Collision and comprehensive coverage are two common and popular policy types that pay for different types of damage to your vehicle. However, if you purchase an older car, these coverage types may not be as important. Older cars are typically lower in value than newer models, so if you purchase a car that is worth less than your deductible and your annual premiums combined, it may make more sense financially to drop collision and comprehensive coverage to save money on your policy.

Who’s Driving the Car

More experienced drivers will usually pay lower premiums than younger, less experienced drivers. If you are insuring a teen driver on your new vehicle, you may end up with higher premiums. However, some carriers will offer discounts for teens who maintain good driving habits, like completing a safe driving course, so there are still opportunities to save on your policy.