Cheapest Cars to Insure
The cheapest cars to insure are the cars that present the lowest risk to insurance companies. Insurance companies base their rates on statistics. If you drive a car that has a low rate of accidents and theft, you'll have a far better chance of finding the cheapest car insurance.
When consumers buy cars, the costs of insurance may be the last thing on their minds. If you're like many drivers, you look for a car that fits your budget and suits your lifestyle, and you probably don't consider the cost to insure your automobile as one of the deciding factors in your purchase. However, your choice of automobile does make a difference in your car insurance rates. If you happen to favour one of the cheapest young driver cars to insure, you'll be rewarded with lower premiums on your vehicle cover.
Cheapest Car Insurance Groups
When you apply for car cover, an insurance company rates your car on a scale of 1 to 20 to determine its level of risk, or the likelihood that the company will have to pay a claim on that vehicle. Based on your rating and the cost to insure the vehicle, your car will be assigned to a group. A high performance sports car will earn a higher rating than a fuel efficient family vehicle. The cheapest cars to insure fall into the low risk insurance groups.
Even if your automobile is classified with the high risk cars, you don't have to settle for a high priced policy just because you don't drive one of the cheapest cars to insure. The car insurance industry is highly competitive, and with so many companies vying for your business, there's no need to accept higher quotes. Compare quotes from several companies to find the cheapest premiums available for the class of cars you like to drive.
All drivers are legally required to insure their automobiles, but you can't count on finding the cheapest policy unless you shop around and take advantage of any available discounts. If you have a clean driving record and you haven't made any claims recently, you may qualify for lower premiums even if you don't drive one of the cheapest cars to insure. Paying a voluntary excess and arranging yearly payments instead of monthly or bi-yearly payments may help you achieve the cheapest possible premiums and make it easier to insure your car properly.
Cars at Risk of Theft
The cheapest cars to insure are the automobiles that most thieves don't fancy. For instance, a minivan has a lower risk of theft than an Alfa Romeo. If your vehicle has a high risk of theft, an insurance company is not likely to offer you the cheapest premiums. If you live in a dangerous postcode and you park your car on the street at night, your automobile may be even more costly to insure.
The cheapest cars to insure are also the most secure. You may be able to compensate for this risk by housing your auto in a locked garage instead of leaving it parked on the street. You can also lower your premiums by fitting your automobile with high performance locks, a tracker or other security devices that make it more difficult to steal.
Increasing the security of your auto and driving one of the cheapest cars to insure may not make a difference if you're in a high risk age group. Experienced drivers between the ages of 50 and 70 enjoy some of the lowest premiums, even if their automobiles aren't necessarily cheaper to insure. If you're under the age of 25, you'll generally pay more for your cover simply by virtue of your age and level of experience.
Solutions for High Risk Cars
Shopping for cheap cover can be a disheartening experience for drivers of high risk vehicles. However, almost any driver can achieve lower premiums with a no claims bonus. This discount applies to drivers who make no claims within a policy period. If you earn a no claims bonus, your cover will be cheaper during the following policy period. Younger drivers who own high risk vehicles can earn a discount of around 10 percent by passing the Pass Plus test. The Pass Plus program is a safety education course that helps new drivers improve their skills.
When you combine your auto cover with another policy through the same insurer, such as your house insurance, you may achieve lower premiums on both policies, no matter what model you drive. You can also achieve lower premiums through a multi-car policy if you have more than one driver in your household. Take advantage of every opportunity to get cheaper coverage, even if you don't drive one of the cheapest cars to insure.