New Car Prices: Factor in Insurance Premiums

Seems a few of you are in the market this time of year for a new vehicle, we have received a few emails asking about final payments on new cars and we found a bunch of people are forgetting to factor in what the monthly insurance is going to cost along with the payment of the vehicle. Here are a few steps you don’t want to forget when shopping for a new car.
When in the market for a different vehicle and looking at new car prices, people should consider how much their insurance premiums could change; this factor could make a good deal seem better or that sporty dream not worth the actual price.
When getting new car prices, people should know how the insurers determine their rates. Many insurance companies use actuaries that rate cars on a wide variety of factors to determine their risk. This risk assessment is used to decide the cost of comprehensive and collision coverage by the company. They set these rates in order to minimize the insurer’s risk.
The Insurance Services Office (ISO) is the primary actuary company used. They assign each vehicle a risk number and the insurer then decides how to use that number in their policies. Though these numbers are not made available to the public, a person can get estimates from insurers to get an idea of what one vehicle may cost to insure over another.
If a person is looking for the lowest new car prices when all factors are considered, they should stay away from sport or high performance cars. These are generally more expensive to repair if in an accident. They may also attract more moving violations and automobile thieves. Cheaper, more modest vehicles cost less to repair and as such, may not be as expensive to insure.
People should also consider safety features. Automatic seat belts, airbags, anti-lock breaks, and other features can make premiums cheaper because they assist in lowering the payouts on hospital bills if in an accident. Anti-theft systems are also helpful in preventing theft. SUVs are rated as high performance and sports cars and are usually more expensive than other types of vehicles. They generally cause more damage to other cars if in a collision.
For help deciding the final number if your in the market for a new vehicle check out this site gives prospective buyers the tools to shop for new car prices with ease and convenience by investigating performance, exploring features, and making comparisons online before stepping onto the sales floor of a car dealership – with confidence and clear purchasing goals.