You Can Save Hundreds of Dollars Every Year in Insurance Payments with This Simple Trick
If you’re looking to purchase a new car, one of the things that you’ll have to address is the amount of auto insurance that you’ll pay.
Yep, it can be a real bummer, especially if you find yourself grouped in a category of high auto insurance premiums.
Fortunately, quite a number of studies have been carried out every year to discover which cars have the least cost in terms of insurance to enable you to make the right decision.
Besides, don’t you think you’re already spending enough money by buying a brand new car?
That being said, it would be important to learn how to save some money in terms of insurance, as well as car maintenance. Those few hundreds of dollars every year can be a massive improvement in your financial structure!
The Choice of Car you select can make your insurance premium much cheaper
Despite there being many factors that determine your car insurance such as your age and the nature of your employment, selecting a car that will not be charged as much by the insurance company will definitely play a big role in the amount of insurance you’ll be paying as well.
To get a better understanding of this, you’ll need to have a rough idea about how the average insurance cost of a car is calculated.
For example, in the United States, the average national cost for auto insurance is about $1600 a year. Additionally, you can spend as little as $1112 every year to insure some of the least expensive cars around.
Additionally, in the study to determine the national average, it was found that the top 10 cheapest cars had affordable yearly insurance premium ranging from $1112 to $1203 per year.
So what does this mean? If you were to buy either of these cars, you would be saving hundreds of dollars from the average insurance premium every year!
That being said, here are the top 10 cars with the cheapest insurance premium:
- Ford Escape SE- $1203
- Subaru Forester 2.5l- $1196
- Jeep Patriot Sport and Buck Encore-$1190
- Jeep Cherokee Sport- $1188
- Subaru Outback 2,5l- $1187
- Jeep Compass- $1183
- Honda CR-V LX- $1170
- Jeep Wrangler Black Bear- $1148
- Jeep Renegade Sport- $1138
- HONDA Odyssey LX- $1112
Which Other Cars Can Save You Money When It Comes to Your Insurance Premium?
The aforementioned data regarding the cheapest cars were derived from the cost of car insurance study 2017 that analyzed some of the highest costing cars to insure, and decided to expand their research to also include the 20 cheapest cars to insure.
Despite the fact that there is also another of the least expensive cars to insure, when taking the time to compare the results, some of the aforementioned cars were also in that least, suggesting that this was a great barometer for the National Average.
Keeping this in mind, here are other cars that fair particularly well in the spectrum of affordable cars to insure. Bear in mind, the cars to be mentioned will cost between $1204 and $1221 per year.
- Ford Edge SE
- Ford F-150 XL
- Honda HR-V LX
- Subaru (XV) Crosstrek 2.0l
- Hyundai Tuscon SE
- Nissan Frontier S
- Fiat 500X Pop
- Honda Pilot LX
- Mazda CX-3
What Are the Factors That Lead to Cheaper Auto Insurance for Your Car?
Interestingly, some of the barometers used to indicate some of the cheaper car insurance premiums can also be used as an indicator that your car will be easier to service and to maintain.
Additionally, it can also be a sure indicator of potential problem areas because of all the data being taken by the company regarding the number of incidents caused by the vehicle, which are then used to factor in the premium rates.
That being said, the more time a certain insurance company insures a particular car, the more data they accumulate regarding that particular car, and the easier it is for them to come up with a fair rate.
However, if they begin to see that there is an increase in the number of accidents or theft incidences, they will then proceed to increase the insurance rates of that particular car.
Conclusively, other factors such as the National Highway Traffic Safety Administration are also vital in helping insurance companies come up with conclusive rates.
More inCar Insurance
Saving That Extra Money and Being Environmentally Friendly the Hybrid Way!
Buying a car is one of the most monumental things that you’ll ever do in your adult life. For starters, not...August 11, 2019
How Rich is Kaley Cuoco Exactly? Her Epic Mediterranean-Style Villa Is a Dead Giveaway
If you’re among the Big Bang Theory fans who were deeply saddened by their favorite comedy TV show finally coming to end after more...August 11, 2019
Tiger Woods’ Massive Superyacht Comes with Some Insane Features and an Unbelievable Price Tag
Last week, the renowned American professional golfer Tiger Woods attended the PGA Championship in New York. While most players arrived at the...August 11, 2019
Jay-Z’s Luxury Car Collection Proves That He Loves His Rides More Than Beyonce
The power couple Beyonce and Jay-Z aren’t only dominating the entertainment industry with their record-breaking album sales and chart-topping songs, but...August 11, 2019
Celebrity Couples Who Have Business Together, Proving Two Is Better Than One
Celebrities are well aware that there will come a time when the spotlight won’t shine on them anymore because the focus...August 11, 2019
Ralph Lauren Once Bought an Ordinary Car, Today It’s the Most Expensive Ride in the World
The renowned American fashion designer Ralph Lauren is known for his eponymous brand, but more importantly, it’s his fascination with collecting vintage cars...August 11, 2019
Holy Sansa! Sophie Turner’s Net Worth After Game of Thrones is Almost Too Good to be True
Isn’t it everyone’s dream to marry the love of their life? While some people may never get to live that dream, Sophie Turner...August 11, 2019
What an Entrance! Khalid Took Coachella By Storm With His Grand Fleet of BMW Cars
One of the reasons why we look up to celebrities is not just for their spectacular talent which allows them to live their dreams...August 11, 2019
The New Phase in Auto Insurance: Are We Going Usage-Based?
With innovation being at the realm of technological advancements, auto insurance companies have been experimenting with new tech releases to improve...August 11, 2019