Cars with Cheap Insurance
Cars with cheap insurance bills are still hot commodities, both in the new car and used car markets. As petrol prices fluctuate and as base prices for auto insurance vacillate, finding cars that are both cheap to drive and cheap to insure are always in high demand. Both common sense and the risk group ratings make selecting a cheap-insurance car fairly easy. They are usually the smaller, economical models that get great fuel mileage with smaller engines and lighter gross vehicle weight.
Even third-party cover, the protection level that meets minimal standards to drive legally in the UK, has premiums based on vehicle risk bands. Those smaller cars, above, rate in the lowest-risk areas, for they are easier to control and avoid accidents, and they cause less damage upon impact. Since insurance is entirely about protecting against risk, the lower the risk factors a car has, the less the insurance provider charges to protect it.
As noted above, an auto mobile’s horsepower in an engine plays a large role in determining final premium quotes. Insurance companies are conservative by nature: They don’t like lots of risk. Therefore, the larger the engine and heavier the engine and car, the greater the damage the motorcar can do when it hits something. The heavier and faster the car, the longer it takes to stop it and harder it is to avoid a hazard. Those relate directly to accident occurrences, whether the insured person is responsible or not.
If you want to save money on buying a car and operating a car, concentrate on those cars with cheap insurance. You can obtain a list through any insurance carrier or the Insurance Group Rating Panel or perhaps the Associate of British Insurers, one of the Panel’s member organisations. Target your car purchasing options to vehicles to those in groups 1 through 10 with the best options near the lowest numbers, and you will keep your day-to-day expenses much lower than a for a higher-risk vehicle.
Cost of insurance includes costs within insurance – cost factors involved in risk projections, not just the cost of premiums. Computed costs relate to repair expenses, replacement values and liability estimates based on statistics for each car make and model.
Vintage and luxury cars costs more to buy than an average personal-use vehicle. Import and kit cars often cost more to repair than an average group 1 auto mobile, for example. When car models are rare, parts for them are rare as well. Rarity influences costs of parts and of labour. Higher price scales transmute to higher financial obligation and risk for the insurance company. As any one knows, higher risks means higher premiums. Parts for an Italian import that costs hundreds of thousands of pounds can’t be repaired at just any body shop. It has to be taken to specialists who invariably charge very high prices for imported parts and very high rates for the specialised labour. If those high-risk, high-value cars get stolen, the insurance company is responsible for paying a huge amount of money. That financial risk is reflected in the charges to protect against that investment loss.
Cars with cheap insurance cost less to buy and replace, cost less to operate, for they have smaller engines and are kinder at the fuel pump, and they cost less to repair and lower liability charges.
Vehicle security is very important, not only to the motorists who need those auto mobiles but to the insurance companies that have to pay to repair break-in damage or remit a large percentage of the vehicle’s depreciated value if stolen. Car theft and car vandalism are both on the rise in the UK, including the low-value cars. High-profile vehicles are always high-risk vehicles, but even the car used for just errands around town are being stolen and taken apart for their engine blocks and parts. Upgrading the security of your vehicle is very important. Parking your car in a locked garage at night, installing car alarms, if not already on-board, that are approved by your insurance company and several other security devices that are used conscientiously and consistently will increase your vehicle’s security and vastly reduce its chance of getting vandalised or stolen. Those reduced risks can reduce your premiums for any make or model of auto mobile.
Consider each of these factors when deciding which car to buy. Remember the general correlation, for it holds true time and again: The smaller the car and the cheaper its new-car purchase price, the better it’s chance of being a group 1 auto. Those with low risk evaluations are the cars with cheap insurance. Compare quotes for those economy cars for the best benefit package for the cheapest insurance price.