Want Lower Car Insurance Premiums? Choose Your Car Carefully

How Vehicles Impact Insurance Premiums 

Although most people are well aware of how their driving record affects their insurance premiums, many don’t realize just how much their vehicle affects the rates as well. Everything about your car, including the year, make, and model impacts the rate you receive. When shopping for auto insurance in Hudson, NY, it’s important to understand how your insurance is determined so that you can choose your next car carefully.
Year, Make, and Model
The age of your car will play a significant role in your insurance premiums. This is because the older your car is, the more value it loses. The less valuable your car, the less expensive it may be to repair or replace, making it cheaper to insure because the risk of a large claim is reduced. However, because some cars hold their value for longer, insuring an older car may be cheaper than insuring a newer car in some cases.
High-end luxury cars usually cost more to insure because they are valuable to begin with. If the car is in an accident and needs repairs, the parts are usually more expensive than economy brands. Thus they will come with a higher insurance premium.
Risk of Theft
Cars are rated on two main factors, which are derived from all of the information above. What it all comes down to is the value of your vehicle and the risk of theft or accidents. Theft statistics will impact comprehensive costs since theft is the most common source of claims against comprehensive coverage. In general, high-end vehicles are more desirable and may be subject to higher rates of theft. However, this isn’t always the case, especially if your new vehicle has added security features – which can help to keep your premiums low!
Keeping your car and finances safe doesn’t have to cost the earth. Secure auto insurance to protect your vehicle and wallet from disaster. Talk to the team at Kneller Agency today.

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