Farmington, Connecticut
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Farmington, CT 06032

Avoid High Car Insurance Rates by Choosing the Right Vehicle January 25, 2017

Farmington, Hartford County
Avoid High Car Insurance Rates by Choosing the Right Vehicle, Farmington, Connecticut

Before purchasing a new vehicle, consider how it will affect your car insurance rates. When it comes to factors that affect annual premiums, not all car types weigh equally. The experts at North American Underwriters, located in Farmington, CT, want you to understand what goes into calculating your insurance rates so you can save money in the long run.

Auto insurance rates are calculated by actuaries. These number gurus combine multiple factors into their equations to come up with a premium. Here are a few of the components:

  • Age of Vehicle: As with home insurance, age plays a factor on your premiums. Newer vehicles are worth more, so they require higher premiums to cover the cost of repairs in the event of an accident. High-end sports cars can also cause higher rates because they attract higher-risk drivers. However, older vehicles are more likely to be stolen because newer models have advanced security systems. A higher chance of theft can also increase your car insurance rates.
  • car-insuranceType of Engine: The more the horsepower, the higher your car insurance rates will be. The thought process behind this concept is that certain people are attracted to vehicles with larger engines because of their power and speed. For example, it’s common for premiums on expensive sports cars to be high because many of the drivers who purchase such vehicles have a history of risky behavior.
  • Crash Tests: High crash-test ratings can lower your premium. This is common among newer vehicles because of improvements in design. Certain older vehicle models can also have crash test ratings, so research should be done on each car of interest.

You should take these factors into consideration before deciding on a car. By doing your research, you can find a vehicle that meets all of your desires while also getting the best insurance price.

Got your eye on a specific vehicle? Save money by contacting North American Underwriters for a free car insurance quote before you make your purchase. You can reach the Connecticut-based professionals by calling (860) 674-4000 or by visiting their website.

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