In today’s escalating prices, car insurance can be really hard on your budget. To get affordable rates seems a daunting task but you can find such a policy if you do some homework and put some time and efforts for it.
Best Car for an Affordable Car Insurance
For those who find it difficult to go through the time consuming process sources such as IIHS, NHTSA and HLDI list the most expensive and the least expensive vehicles to insure. They use various parameters in their research to determine the rankings.
Findings of research and studies
The National Insurance Crime Bureau website publishes its duties of vehicle theft and lists the top stolen vehicles in each state. This list keeps changing every year. The vehicles with the theft claims that are least expensive are Buick LeSabre, Volvo C70 Station Wagon and Mercury Grand Marquis 4-four. Their NICB lists the vehicles that are affordable to insure as below:
1. Fiat Punto
2. Ford Fiesta
3. Volkswagen Polo
4. Peugeot 106
5. Renault Clio
Most of the insurers have a general list of cars that cost less to insure. They are
- Vauxhall Corsa
- Fiat Punto
- Renault Clio
- Ford Fiesta
- Peugeot 107, 206, 207
- VW Polo
- SEAT Ibiza
- Smart
The cars listed above have some commonality. The parts of these cars are cheaper to replace and are easily available and the cars cost less to repair if damaged. The car that can get repaired quickly is a favorite of insurers because it saves them money on providing a courtesy car for the duration of repair to your damaged car. They are happy to offer lower rate on the premium as a reward for it. The listed cars are cheap and the insurers can buy them to replace your car if it is totaled in an accident. This means that the insurer spends much less to replace.
(HLDI) the non-profit organization is closely associated with the Insurance Institute of Highway Safety (IIHS) provides the analysis and publishes their study results on how much it costs to insurance companies to provide cover against collision, injury and theft of cars. These studies are wholly supported by the auto insurance companies. They use the criteria such as the number of doors the car has, the color and the type of car to determine the cost of insuring the cars.
The general rule for Auto Insurance Rate for Cars
The studies reveal that 4 door cars have 93% less chances of being stolen than the 2-door cars. The cars that have safety features fitted have affordable insurance rates. IIHS has list of top safety picks of cars that protect the people in all crashes including front, side and rear crashes. The cars that have electronic stability control also score high. Cars tests have proved that cars with design improvements are safer. Since they will have less chances of getting into accidents and so have less likelihood of a claim. The bottom line here is the cost to the insurer to repair or replace the car and the likelihood of claims.
To decide the car that is affordable to insure in an efficient easy way is to short list a few cars that are not in the worst list for theft and claims.