The type and model of the car can determine the insurance cost of insuring a car. This aspect is vital from a young student’s point of view who is planning to buy his/her first car. With the cost of insuring cars owned by youngsters at an all-time high, it is vital to make a choice amongst the cheaper automobiles with less premium. One might be often misled with the idea that costlier the car, costlier is the insurance cost. Well, insuring a Ferrari or a BMW is not that expensive, since there are many other factors other than the car itself that decide the insurance cost.
Factors that Affect Insurance Quote
Details of the Car
- Many of the auto insurance companies grade the safety standards of the car on the basis of its details, like capacity of the engine, steering wheel technology that has been used, breaking systems, etc.
- The logic behind checking all these technological factors is that the better the technology, better are the safety standards of the car. Better safety standards of the car mean that there is a lower chance of the car ending up in an accident.
- In many cases, the reviews of automobile engineers and other technicians are also taken into consideration in order to assess the safety standards of the car. Hence, better and optimized safety standards makes the car insurance inexpensive.
- Many a time, the cost also depends on the modifications regarding the safety of the vehicle. Hence if you want the cheapest vehicle insurance on a heavy-duty and high-speed car, then you can also have some modifications done.
- Cars that are cheap to insure are also very cheap to repair is a principle that is followed by the insurance companies.
- A low cost of repair makes the cost of insurance lower. It means that the spare parts and repair services of your car must be readily available and must also be cheap.
- The cheapest insured cars, most of the time, have readily available car repair services.
- Good quality and well-developed security systems are, many a time, considered to be important factors for the assessment of the car while insuring it.
- Better security systems mean that there is a very low probability that the car would be stolen. Thus, the cars that are cheap to insure have very well-developed alarm and security systems.
- Based upon the specifications, like engine capacity of the car, safety standards, and repair cost, insurance companies have divided the cars into insurance groups. Thus the insurance group to which your car belongs is also important.
- The cheap cars to insure for first time drivers thus belong to the group of easy to drive cars, that have a lower engine output and are more controllable.
- If a first time driver opts for a very high-capacity car, then the cost of insurance is going to rise up.
Experience of the Driver
- As mentioned above, the experience of the driver and the capacity of the car are two key factors that determine the cost of insurance, hence less experienced drivers would get the auto insurance quotes expensive, as compared to the quotes of the experienced drivers, which are reasonable and cheap.
- Cars to insure for first time drivers are thus, usually expensive.
- If we look at the engine specifications, then the cheap cars for new drivers include the ones that have a low engine output, less acceleration, and better safety standards.
Some of the other factors that make the car insurance cheap include, the average daily usage of the car, the locality that you stay in, the quality of roads, and infrastructure in your city or town.
Cars that are Cheap to Insure
According to some of the prominent car insurance companies, the following are the cheapest cars to insure.
- Chevrolet Spark
- Kia Rio
- Renault Twingo
- Vauxhall Corsa Hatchback
- Volkswagen Up
- Hyundai i10
To sum it up, if you are looking for cars that have inexpensive insurance costs, then it would be best for you to look for a car with high safety standards and your driving experience. Another factor that you must certainly consider is the cost of spare parts and the cost of repairs. Thus in short, the car that suits you definitely has suitable insurance terms and conditions.