Does The "Newness" Of Your Car Affect Your Insurance Premium?

Many people believe that new cars cost more to insure than others. The fact is new cars don't automatically cost more to insure. Just like any other vehicle, other factors can determine how much you have to pay for insuring your new car.

Auto Insurance and New Cars

Model year doesn't play a role in your car insurance premium. A current year vehicle fresh off the lot isn't going to equate to a sky high insurance quote. You know what really matters when it comes to insuring a new vehicle?

Make and model – It doesn't matter if it's new or old, if you're driving a model built for speed then odds are your insurance premium will reflect that. A brand-new sports car won't have a high premium because it's new. It'll have a high premium because it's a sports car.

Older sports cars will also come with a higher insurance price tag. If insurance premiums are of a high concern to you, then you should consider looking at models that weren't specifically designed with wild nights on the Autobahn in mind.

This reasoning also applies for all cars that come from a manufacturer known chiefly for producing sports cars in general. Sports driving is risky behavior, and someone who purchases a sports car may plan to engage in that behavior. So, your insurance rate goes up.

Prone to theft – Yes, cars that are most desirable to thieves often come at a higher insurance cost. The thing is, thieves aren't out there targeting current model sedans and luxury cars. The most consistently stolen cars in the United States are mid-size sedans and compacts from the 90s.

There are thieves who steal newer cars, but there are also thieves who steal semi-trucks. Your new car is about as safe from thieves as most others. If you want to know if you have a car that thieves love, check the NHTSA theft database.

Safety features – A car that's inherently less safe costs more to insure than a car with loads of safety features. The good news for you is that many current model cars come with loads, and loads of safety features.

These days, cars come equipped with cameras, sensors, emergency auto-braking, and various other things that make the car, and driving the car, safe. Manufacturers improve on safety features every year. The very designs of the cars have safety in mind. In fact, you may even receive discounts if your new car comes with a ton of safety features.

Don't Let Insurance Fears Keep You From the Car You Want

So fret not and purchase your new car with confidence. Unless you're buying a souped-up sports car with the bare minimum safety features, and a long history of being stolen, then you should be alright as far auto insurance goes.

No matter what kind of car you plan to purchase, always remember to check out several quotes. Different insurers have different criteria. You may find that your new sports car won't cost as much to insure as you feared.

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