If you are getting ready to go shopping for a new vehicle, you should think about the insurance costs for any vehicle you are interested in purchasing. That way, you will not be surprised by the premium, and you can factor the premium into your budget.
#1: Engine Size
The size of your engine is going to impact your insurance costs. Generally, if you have a larger and more powerful engine, you will face higher insurance costs. This is due to the likelihood of getting into an accident based on data about engine size. If you don't need a turbo engine, save yourself some money and go with a regular-sized engine.
#2: Age of the Vehicle
Next, the age of the vehicle is going to impact your insurance rates as well. Generally, it is going to cost you more if you want to purchase a brand-new vehicle. However, if the vehicle is so old it can become a classic, the insurance costs will go back up again.
If you are looking for a happy medium, look for a two-to-five-year-old vehicle that has depreciated enough in value to ensure a better insurance rate while still giving you all the benefits of a new vehicle.
#3: Safety Features
The safety features that a vehicle comes with will have a direct impact on what you pay for insurance. Some safety features that can help you save money include anti-lock brakes, rearview cameras, anti-theft devices, and tracking devices.
You are generally rewarded for features that decrease your chance of getting into an accident and decrease the likelihood of someone breaking into or stealing your vehicle.
Although this doesn't have as big of an impact as it once did, where the car was made can impact the insurance rates. You may face higher insurance rates if you have a foreign-made vehicle, with the implied assumption that replacement costs will cost more and auto body shops will charge you more to fix your vehicle.
If you want an affordable insurance policy, and you are shopping for a new car, look for a slightly used vehicle with lots of safety features and a smaller engine that is American-made. If you have a vehicle you are interested in, get the VIN and call your auto insurance company. They will be able to give you a premium quote before you buy the vehicle so you can determine if you can afford the vehicle's insurance rate.