When calculating the cost of purchasing a new vehicle, there are numerous items to consider beyond the sticker price. Examples of additional cost factors include maintenance costs, fuel efficiency, and the effect on your car insurance. It’s common for an insurance agency to raise your rates when you purchase a new vehicle, but with some preparation you can ensure that you make the most economical purchase to keep insurance costs down.

Keeping Your Rates Low with a New Vehicle

1. Consider a Used Vehicle

There are many financial reasons to choose a slightly used car over a brand new one. Since the value of a new car is higher than a used vehicle of a similar make, it costs the car insurance provider more money to cover the newer vehicle. This translates into higher rates for you. Used vehicles also depreciate much less than a new one after it’s purchased.

2. Check the Safety Rating

Vehicles that receive a high safety rating from the National Highway Traffic Safety Administration will have lower insurance rates. The rating is based on a variety of factors, including the vehicle’s safety features, the likelihood that the driver will get into an accident, and the likelihood that injuries will occur.

3. Decrease Likelihood of Theft

Certain vehicles are more likely to be stolen than others. If the new vehicle you purchase is high on that list, it’ll likely result in higher car insurance costs. Regardless of the vehicle you choose, make sure it comes equipped with anti-theft devices such as a car alarm or LoJack® to help keep the costs down.

4. Opt for More Airbags

Unless you’re considering a vehicle built before 1999, frontal airbags will be a standard feature on your new purchase. However, you’ll need to consider how many different front, rear, and side airbags the vehicle is equipped with. The more there are, the greater your insurance discount will be.

5. Pick a Vehicle with Daytime Running Lights

Before making your purchase, make sure your vehicle’s headlights turn on automatically. These come standard on most newer models, and they’re used to prevent collisions during daytime driving. Your insurance provider will provide a small discount if you have them.

 

 

By following these tips when purchasing a vehicle, you can get the car of your dreams without paying a fortune in car insurance rates. For more ways to save, contact the insurance experts at Hummel & Plum Insurance Agency in Chillicothe, OH. For over 100 years, they have served as the area’s leading insurance agency. Schedule a consultation by calling (740) 773-1620 or learn more online.