Car Insurance Source, Affordable Car Insurance , Car Insurance Companies

Which Cars Have The Lowest Insurance Cost

Most people are looking to save money wherever they can an saving money on car insurance is usually high on everyone’s list, Raising you car insurance deductible as you may know lowers your premium, how much does the kind of car you drive matter with an affordable car insurance rate? The list of cars with the lowest insurance cost may surprise you.

Small economy cars while stingy on gas consumption will disappoint you with insurance premiums. Every year, the Highway Loss Data Institute, analyze the actual insurance losses associated with the most popular vehicle makes and models. Since car insurance companies use comparable kinds of facts to set premiums, the rankings give consumers a look into how their vehicle choices affect their car insurance premiums.

Just like always, the statistics suggest that small cars and speed are an expensive combination for insurers — especially with young drivers behind the wheel.

A rule of thumb is, if the car is fast it will be expensive to insure. If the car is small it will be expensive to insure. If the car is small and fast it may prove to be cost prohibitive to insure, especially if you are less than 25 years old, a young driver in the insurance business

10 Most-Expensive Cars to Insure

These vehicles account for the highest dollar amount of losses for car insurance companies

1. Cadillac Escalade EXT 4WD
2. Subaru Impreza WRX 4WD
3. Hyundai Tiburon
4. Mitsubishi Lancer
5. Scion tC
6. Acura RSX
7. Nissan Sentra SE-R
8. Suzuki Forenza
9. Nissan Sentra/Mitsubishi Eclipse
10. Chevrolet Cobalt two-door

Source: Insurance Institute for Highway Safety

10 Least-Expensive Cars to Insure

These vehicles account for the lowest dollar amount of losses for car insurance companies

1. Ford Five Hundred 4WD (now the Ford Taurus)
2. Buick Rendezvous 4WD
3. Buick Lucerne/Buick Rainier 4WD/Honda Odyssey
4. Ford Freestyle 4WD/Subaru Outback 4WD
5. Buick Rendezvous/Honda Pilot
6. Chrysler Town & Country LWB
7. Honda Pilot 4WD
8. Buick LaCrosse/Chevrolet Uplander/Ford Escape/Volvo V70
9. Dodge Grand Caravan/Ford Freestyle 4WD
10. Ford Explorer 4WD/GMC Sierra 1500 4WD/Toyota Highlander/Toyota Sienna

Source: Insurance Institute for Highway Safety

Keeping you car insurance premiums down can be as easy as narrowing your choices for a new car down to 3 or 4 models and calling your car insurance agent and comparing rates. You will be surprised what you learn. The list of cars with the lowest insurance cost may surprise you.

An Easy Way To Lower Your Car Insurance Premiums

With the rising cost of just about everything, who doesn’t want to find a way to get more affordable car insurance? If you are just learning to drive then taking a certified driver’s education course can be of some benefit in lowering your premiums when you sign on with an insurance company. The company will require a copy of the driver’s education  certificate to verify that you did indeed take the course. Check with the DMV to learn more.

Lower Your Deductible

If you take the time to read enough articles about finding affordable car insurance one piece of advice that you will be given over and over again is that you can lower the premiums you pay by increasing your deductible.

For those who do not know what a deductible is, it is the amount of money that you must pay out of pocket when filing a claim before the insurance company will help you out. The higher amount you are willing to foot the bill for in the event of an accident or any type of altercation your vehicle is involved in, the lower will be the money they will charge you in premiums.

Let us look at an example of this. Let’s say that you have a deductible for 500 dollars. One evening it is raining and you run into a tree and damage the front end of your car.  When you file a claim with the insurance company you have to pay 500 dollars to your insurance provider before they are willing to pay out any money in order for your vehicle to be repaired.

Why a Deductible?

A deductible is in place in order to reduce any fraudulent claims that the insurance company has to deal with. The logic behind it is this- the more you have to pay out in terms of a deductible the less likely you will be to file a claim. This then makes it possible for your premium to be lower.

According to the Insurance Information Institute, if you decide to raise your deductible from $200 or $300 and bump it up to $500 then this can serve to lower your premium by as much as 15 to 30 percent. If you in turn decide to go even higher and raise your deductible to as much as $1000 then your premium can decrease by as much as 40 percent or in some cases, even more. Be aware however that this applies more to newer cars or cars that are only a few years old as opposed to older vehicles. If your car is at least 10 years old or older then you may able to lower your deductible somewhat but the savings will not be as great.

Affordable car insurance can be yours if you find a way to strike a positive balance between the deductible you pay and the premium you pay. Savings can be yours!

Finding An Affordable SR22

It is possible you did not know what an SR22 was. Unfortunately now you have found out. In the simplest of terms an SR-22 is a document that shows proof of financial responsibility and that that provides proof that you are carrying a certain type of liability insurance. You’ll need an SR-22 if police officers caught you driving without insurance, were found guilty of a DUI or DWI or any serious moving violation. This includes accidents while driving without insurance that were your fault or repeat offenses for traffic violations like speeding or careless driving over a short period of time.

In most case you will be required to carry an SR-22 for 3 years. You must carry continuous insurance during the specified period of time before SR-22 status is considered no longer necessary. If your policy lapses or is canceled, your car insurance company is required to notify the state immediately and your license will be suspended again. Tough rules but such is life for the high-risk driver.

SR22 insurance requirements do vary by state. SR22 insurance online in California is simply an online quote for SR22 insurance. Kentucky, Delaware, Minnesota, New Mexico, Pennsylvania and Oklahoma and don’t require SR-22s, but if you have an SR-22 and then decide to move to one of these states, you must continue to meet the requirements of the SR-22 state where the offense was committed. Though the SR-22 standards are similar from state to state, you should always check with your car insurance company or agent to verify SR-22 specifics for your state.

Finding affordable SR22 car insurance can be quite the challenge. Car insurance companies charge exorbitant premiums for high-risk drivers. SR22 insurance rates vary greatly among insurers so you must always do a quote comparison before purchasing your SR22 insurance online. SR22 insurance is not cheap, especially if you are a young driver.

Keep in mind maintaining your SR-22 status is a very serious business. Most states list SR-22 status on your driving record. This is so officers can look and see if you have it. Typically, individual state motor vehicle departments are responsible for enforcing the requirement, but that does not make it any less serious

Car Insurance Companies, See How They Rate

If you were asked to compile a list of car insurance companies could you? How about listing the top rated auto insurance companies throughout the U.S.? A company that is rated high is often a good bet if you are searching for an insurance provider because they have proven their reliability.

There are a variety of factors that go into the process of how a company is rated. As well there is more than one company that is responsible for the rating system. Some of the factors that must be taken into careful consideration are as follows:

·    Price
·    Level of customer satisfaction
·    Financial stability of the company
·    Response time for claims

If you are in the market for a new insurance provider for your vehicle, take a close look first at the agencies that rate companies and then from there devise a list of car insurance companies worth considering.

J.D. Power and Associates

This company takes a close look at what consumers have to say before they create a list of some of the most desirable and highest rated providers of auto insurance. They look at the cost associated with coverage as well as how much variety exists among the policies that companies offer. They also look at how policyholders are billed and how they go about accepting payments. Finally, they consider how easy or difficult it is to reach a representative from the company when a problem arises.

J.D. Power and Associates is considered to be a very reliable source for consumer information on car insurance. They are an independently run company that takes no money from any insurance providers. Two of the companies that commonly rank high according to J.D. Power and Associates include Amica Mutual and USAA.

Department of Insurance in Your State

If you take the time to search online you should be able to find a website that is available for the Department of Insurance in your state. Here you will find a list of some of the most highly ranked car insurance providers in the state where you reside. Be aware however that there are some companies that may not offer policies in your area and therefore will not show up on the list.

Financial Stability

How can you as a consumer determine if an insurance company is financially viable and therefore a safe bet for your insurance needs or not? Check rating companies that provide this information. One of the most well known is Standard and Poor’s.

Bear in mind however that a rating company such as this will provide you with only the financial stability of the company you are considering. You will have to look elsewhere for ratings for customer satisfaction, price of premiums, etc. This information on its own is still a wise gauge for whether the company is one you want to do business with.

List of Car Insurance Companies to Consider

Here we list some of the top rated car insurance companies that you should put at the top of your list. These companies include:

·    USAA
·    Amica
·    State Farm
·    Erie Insurance
·    AAA
·    Allstate
·    Geico
·    Liberty Mutual
·    Progressive