Auto and Car Insurance

In what ways does buying a car affect car insurance premiums?

I'm looking at buying or leasing a new car and am wondering how that'll affect my car insurance premium. Also, which features in a new car affect the premium. I have heard about red paint and sports cars causing higher premiums, but are there any other factors?

Public Comments

1. It depends on a number of things. The type of car - sports cars will cost more than sedans or mini-vans. Safety Equipment - air bags, anti-lock breaks, anti-theft devices, etc. will all lower the cost. The area you live in - areas are rated by zip code, and areas that have higher rates for accidents cost more. Where you park also affects your rates. You save money having a garage vs. parking it on the street or in a lot. Of course your age, gender, and driving record will affect your premiums too. You need to get quotes from several insurance companies in your area to be sure you are getting the best rates. Different companies have different discounts which can be pretty significant. Good Luck!
2. The car affects the premium. New cars are worth more than cars several years old, so they cost more than older ones. High priced cars cost more because the potential loss is much greater than for that of lower priced cars. Sports cars cost more because they're supposed to have more accidents. I'm not sure that's true, but that's what the people who set the rates think. Also, cars that are stolen alot have high premiums. You also affect the premium. Do you have a good driving record? That lowers premiums somewhat. If you're middle aged or older, your premiums are usually lower because older people are considered safer drivers than young ones. I'm not sure that's true, but again, that's what the people who set the rates think. Hope this helps ya. A site I've recommended in the past would be... http://insurance.deal4-you.com Hope that helps.