At We Insure Downtown Miami, You Save Money on Car Insurance

What comes to mind when you imagine your next car? A sunny spring day with the sunroof open and your dog sitting beside you? Or perhaps a trip with your partner, hauling mountain bikes to an exciting new trail? These are just a few of the many things to consider when buying a car, but one factor often gets overlooked: the cost of insurance.

But it should be a priority.

Insurance premiums vary significantly between vehicles. While your age, location, and driving history play a role, the car itself is a major factor in determining your rate. Choosing the right car can lead to savings that allow you to upgrade your gear or take more vacations with your pet.

The Price Tag and Your Premium

In general, the more expensive the vehicle, the higher your insurance costs. High-end cars, like Teslas, are known for being expensive to insure, and this is true for many luxury models. The high cost of repairs (replacing a battery pack in a Tesla can cost more than $15,000), limited availability of parts, and the expertise needed for repairs all contribute to the high premiums. This also applies to exotic cars like the Maserati Quattroporte, as well as premium models from Porsche, Mercedes, and BMW.

For more common vehicles from brands like Toyota, Honda, and Ford, the vehicle’s age, model, and trim level tend to play a more significant role in setting insurance rates.

Reliable Cars, Lower Costs

Older vehicles typically cost less to insure because their replacement value is lower than that of newer models. So, if you're opting for a used car, you’re already on the right track to save on insurance.

The make and model are also crucial factors. Certain cars are safer, while others may be more prone to theft. According to a recent survey of insurers, some of the least expensive SUVs to insure include the Honda CR-V and Pilot, along with the Subaru Outback and Ford Escape. For sedans, the Toyota Camry, Prius, and Honda Civic are known for lower rates. Among trucks, the Ford F-150, GMC Sierra, and Chevy Silverado 1500 (in base trim) offer some of the best insurance rates.

Safety Features and Customizations

The safety features on a car can have a major impact on your insurance premium. Options like lane departure warning, blind-spot monitoring, and anti-theft systems can reduce the risk for insurers and help lower your rates. If you're looking at an older model or a base version of a new car, it's worth researching how the absence of advanced safety features might affect your premiums.

Any modifications you make to your car could also increase your insurance costs. Performance upgrades that boost horsepower are an obvious example, but custom paint jobs, expensive wheels, and high-end audio systems can also raise your premiums.

Your Road to Savings

Your local We Insure agent can guide you in finding the best deals on car insurance. Whether it's comparing quotes from a wide range of providers, bundling policies, or uncovering discounts, we’re committed to finding you the best coverage at the best price.

We’ll ensure you’re fully protected without overpaying. After all, a cheap policy isn't a good deal if it leaves you underinsured. Contact your local agent for a fast and free quote today!

Source: Bankrate