Cars That Keep Insurance Costs Low

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Few consider the cost of insurance when they spring for a brittle sports car or bright red theft magnet. This is unfortunate, because a number of seemingly inconspicuous factors can make your car more likely to be stolen or sustain serious damage in a wreck. Given that insurance rates are based on statistical costs of ownership, understanding these probabilities will give you insight into which cars will be cheaper to insure. Luckily for you, the Highway Data Loss Institute (HDLI) collects such statistics.

When it comes to theft, the flashier cars are predictably targeted. For instance, the utilitarian Buick LeSabre enjoys relatively minimal theft claims, while a convertible Chevrolet Corvette is stolen five times more frequently than the average theft rate. This leads to an interesting fact; four door cars are 93% less likely to receive a theft-related insurance claim than their two door model counterparts. To mitigate the risks involved with theft, the National Insurance Crime Bureau recommends four things: common sense, a warning device, an immobilizing device, and a tracking device.

Of course, theft doesn’t touch on the two insurance costs involved in wrecks: property and personal injury. Cars ranking low in property damage claims are about what you’d expect. Large vehicles like the Ford Excursion, the GMC Safari, and the GMC 2500 usually get the lighter end of any impact due to their weight and strength of frame. Conversely, light, sporty cars like the Subaru Impreza, Porche 911 coupe, and Acura RSX typically garner the most expensive property claims.

You might assume similar trends carry over to personal injury claims, and for the most part they do, though expensive claims come from inexpensive cars rather than fast sporty vehicles. Some of the more expensive injury claims result from accidents involving a Suzuki Esteem, a Kia Rio, or a Mitsubishi Mirage. Inexpensive claims come from more tank-like cars like the GMC Sierra, the Chevrolet Silverado, or the GMC Yukon.

It may sound like the larger, heavier SUVs result in a lower NY car insurance rate, but bear in mind these appraisals only apply to insurance. Other costs like gasoline could offset a lower insurance payment. Hopefully with these guidelines, you can avoid any sticker shock when it comes to insuring your new car.

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