A lot of thought goes into purchasing a new car. Sometimes thoughts are focused on the bells and whistles, the luxury and comforts, or maybe on gas mileage and safety. Regardless, the thought of car insurance isn’t usually at the forefront of consumers’ minds when shopping for a new car. They simply know it comes later—it’s the second step to take after that dream car is in the driveway. 

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That’s a common misconception.  Car insurance is not the same for all cars and, in certain situations, it is a considerable factor when choosing to purchase a new vehicle. 

What Causes Cars to Cost More in Coverage?

There are several influential factors that make cars more expensive to insure. Some of them are quite obvious. For example, the more a car costs to purchase, the more it will cost to insure. An $88,000 Lexus LS 460 will cost considerably more to insure than the new Ford Focus as a higher premium is a necessity for potential repairs.

Car insurance companies also put a lot of emphasis on history when determining rates.  Unfortunately, this history is not completely under the consumer’s control. Of course, your own personal driving history does play a role in the price you pay, but the history of other cars just like yours plays a role too.

Vehicles that teenagers and new drivers typically operate will cost more to insure than similar models. It all comes down to the historical claims made on the type of car.

Location also has a role in the process. Depending on statistics in your area, your auto insurance rate may change. If you live in a high accident area, then you will pay more. That said, though populated cities may often have high accident rates, low mileage also has an effect. The less distance a car is driven, the lower the possibility is of accidents. The cheapest rates will be offered when there is a combination of low mileage and low accident zones. Add your own personal driving history and low historical public claims, and that’s the formula for the cheapest auto insurance rate available.


Most Expensive Cars to Insure:

  • Higher Price Point (Luxury) - Think high-end models
    • Porsche
    • Mercedes Benz
    • Audi
    • BMW
    • Jaguar
  • Many Historical Claims - Many claims on the car model have been made in your location
  • Accident Heavy Location - regardless of car model
  • Accident Heavy Personal Driving Record
  • High Horsepower - speed can increase accidents


Least Expensive Cars to Insure:

  • Low Purchase Price - Think cheaper car models such as the lower end models of:
    • Subaru
    • Honda
    • Ford
    • Hyundai
    • Kia
  • Few Historical Public Claims - Few people in your area have placed claims on the car
  • Low Accident Location
  • Clean Personal Driving Record

Car insurance rates shouldn’t be the only factor in determining your new car purchase—after all, there are many reasons to enjoy your new vehicle—but the rates can be helpful in comparing potential car purchases. Use them to find the best bang for your buck, and the best overall value for you. 

Photo credits (top image): Ford, Lexus, BarbicanMan, Joe Haupt