Consumers Should Shop Auto Insurance Rates before Buying a Car
Consumers Should Shop Auto Insurance Rates before Buying a Car
Some vehicles can cost fifty percent more to insure. Rates can vary by year, make, model, and sub model. It will always be in a consumer's best interest to shop their auto insurance rates prior to purchasing a new vehicle. Prices are generally higher on two door models compared to four door cars. High performance is also a large factor in determining the premium for your policy. Historically, a larger percentage of high performance vehicles have been involved in accidents when compared to vehicles that are not high performance vehicles, thus driving the insurance rates up.
Rates also increase depending on the cost of the vehicle. Whenever you have comprehensive or collision coverage on your policy the rates will parallel the cost of the vehicle. It is understandable that the insurance company will need to collect a higher premium for more expensive vehicles since in the event of a loss the insurance company will be on the hook for the value of the vehicle.
Consumers that are going to be financing their next vehicle will be required to carry comprehensive and collision coverage for the entire term of the auto loan. Consumers that would not purchase a vehicle without knowing what the monthly payments would be should not purchase a vehicle without knowing the monthly insurance rates. Insurance agents are more than happy to provide new customers with quotes on the vehicles that they are interested in possibly purchasing.
It is also recommended that while getting quotes on auto insurance that the customer requests quotes from multiple insurance agencies and companies. The difference in rates between companies is significant.