Economy Cars More Economical Than Luxury

By Author: Marcus Stalder
Total Articles: 491
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Thinking of purchasing a new car, but unsure about its insurance rates? Make sure you know what to look for in order to anticipate insurance costs; you could save, or spend, thousands of dollars. Your insurance will vary tremendously depending on whether you purchase a high-horsepower sports car or an economical sedan.

The Primary Traits that Affect a Car's Rates

There are a number of factors that determine a car's rates, such as horsepower, safety rating, and theft record. In short, it boils down to this: if lots of people want to drive the car and few can, the insurance will be very high.

The Expensive Cars

Cars included in this include high horsepower coupes, such as the Dodge Viper, Audi R8, Mercedes CL600, Jaguar XKR Portfolio SC, and the Porsche 911 Carerra G2, which is at the top of the list, costing a whopping 2,900 per year to insure (assuming a forty-year-old man with a good driving record is behind the wheel - other risk factors will raise the price higher still). More expensive cars will always suffer from higher premiums, since they have a higher ceiling for costs when the car is totaled. ...
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Specialty automobiles such as Ferraris and Lamborghinis - not that many of us will have the privilege of these problems - suffer from high maintenance costs due to their rare, sometimes handcrafted parts, and requisite specialty mechanics.

More often, insurance rates on performance cars go up because performance can be dangerous. Pushing 500 horsepower is likely going far above posted speed limits and endangering other drivers. This performance is not only dangerous for safety though - it's dangerous because other people want this performance too, and they're more willing to steal the car to get it.

The Economical Cars

The cars with the lowest average insurance premiums are, by contrast, those not known for their sexy drive, brand-name status, or expensive options. Winning the gracious bottom of the price list is the Mazda Tribute I, an SUV. Other quality economical vehicles are the Chrysler Town and Country LX and the Dodge Grand Caravan SE, minivans typically associated with families who have younger children.
Not only are these cars less attractive to thieves and less prone to speeding accidents, their drivers are typically much safer - moms tend to avoid driving aggressively, at peak traffic hours, and late at night, making them much less likely to encounter accidents. The least expensive insurance cars are typically SUVs and minivans, with the exception of the Caravan SE (a wagon) and the GMC Canyon (a truck).

Making Your Decision

Of course, there are more factors involved in auto insurance than the make and model of the vehicle you choose; age, driving record, gender, and a long list of other information affect the cost of your auto insurance premiums. But if you're in the market for a new vehicle and you're aiming to lower your auto insurance rates, consider the following in a prospective vehicle to lower your monthly bills:

- theft record
- horsepower
- sticker-price
- safety rating

While these factors are not set in stone, they will provide a solid guide:

With these features in mind, you'll be much more likely to purchase a car that will meet your needs without breaking the bank.

Try using auto insurance quotes to test out the rates. Auto insurance quotes are always a quick way to save a considerable amount of money.