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How to Score an Affordable Auto Insurance Premium

When it comes time to insure your ride, your car choice can lead to a more affordable auto insurance premium.

affordable auto insurance

A persistent auto insurance myth is that a red car costs more to insure than a vehicle of another color. This has been debunked, but like most myths, it is grounded in truth.  Your choice of car can affect your premium, and opting for certain cars certainly can lead to an affordable auto insurance rate. From safety features to vintage status, there are a number of characteristics that lead to savings.

How to get an affordable auto insurance premium

Insurance companies favor safe cars

Of all the qualities insurance companies look favorably upon, safety features rank high, and for good reason. Technology advances that make possible for vehicles to assist with actions like parking, lane changes, and monitoring blind spots make it less likely that you will get into a costly accident. Driver distraction accounts for a high number of accidents each year, resulting in injuries and car damages, not to mention the complete loss of many vehicles.

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If you have cheap car insurance in mind, look for a model that has the latest safety features. Fortunately, many of these features are standard in cars at various price points, so you don’t need to limit your search to the most expensive cars. More safety features generally equal more savings.

During the quote process, insurance companies will check how your car stacks up in terms of features, but it will also look at crash test performance, the second component that contributes to a car’s safety rating.  Multiple organization test and rank cars, but the two most important ratings are those given by the National Highway Traffic Safety Administration and the Insurance Institute for Highway Safety.

Security features are beneficial

Beyond insuring your car against damage caused by accidents, companies offer protection against theft. If your car has the latest security features, you also might be able to secure cheap car insurance. There are numerous features that fall into this category such as tamper-resistant passive time delay ignition systems, which require that your car be started within a specified timeframe from the door being unlocked. If the driver doesn’t wait the appropriate amount of time, the car can’t be started for another 90 seconds, which delays a thief from being able to jump in your car and speed away.

Other features such as full cut-off devices and kill switches also fall into this category.  Their usefulness depends on whether they are proven and tamper-resistant. Features that are automatically activated when the ignition is turned off are preferred since you don’t have to remember to take any action upon leaving your car.

In the event that your car is stolen, tracking systems can help police to pinpoint the exaction location of your car, making these important features that can help prevent the need for an insurance claim. Motor vehicle recovery systems transmit stolen car information directly to law enforcement, making recovery even quicker.

Your car may have some or all or some of these features, but the bottom line is that steps you take to avoid auto theft result in low car insurance premiums.

affordable auto insurance

If your car is coveted by thieves, it might cost more to insure.

High-theft cars cost more to insure

Insurance companies clearly want to avoid car theft as it increases the amount they have to pay in claims.  Beyond auto-theft features, you can increase your chance of securing affordable auto insurance by avoiding models that are ranked on the list of most stolen cars. You might assume that a used car has less chance of being stolen, but this is not the case. Often models that might surprise you, such as family sedans, make it to the top of the list.

Reasons that older cars are stolen include a lack of auto-theft features like the ones discussed above. They also may have expensive or in-demand parts.  Auto thieves often disassemble cars so that they can profit from the sale of components.  Catalytic converter theft rates are particularly high, since these parts contain precious metals like platinum.

Classic cars qualify for different insurance

If you own a historic vehicle or one that is designated as classic, you should investigate the possibility of acquiring a different type of insurance. Often classic car owners travel fewer miles per year, using these models for weekend cruises, parades, and car shows.  Those who choose vintage cars are known to be safe drivers as they work even harder than many other drivers to protect their investment of money and restoration time.
Since classic car insurance comes with mileage and other restrictions, check with your provider to see if this type of policy is right for you.  If it is, you will benefit from lower premiums as well.

When you set up a new policy it can seem as if so many factors are out of your control, but the car you choose to drive affects how much you pay. Take these recommendations into consideration when you are ready to secure the most affordable auto insurance for your next vehicle.

Is your vehicle surprisingly cheap or expensive to insure? Have a success story with insurance from AAA? Let us know in the comments section below.

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