Insurance is a must have for every driver. It not only secures the driver from extra spending in case of the car accident, but also will repair your car if it is damaged. There is a number of factors that influence the price for car insurance. They include driving history of the car owner, his age, location, number of accidents and fines, driving habits and even the car you have. Despite the fact what your driving experience is and where you live, your car insurance premium rates may climb up or down depending on your vehicle. There are some variants of the cheapest cars to insure.
It is true that some vehicles not only lower the price for premiums, but even make it as cheap as possible. These are cars that correspond with some requirements of the insurance companies:
- Their power is one of the major factors in making the cost of insurance. According to the Highway Loss Data Institute high horsepower vehicles get into the accidents much more often, so most of insurance companies lower the cost of premiums for small 4-cylinder engine cars, the ones with two-wheel drive or horsepower between 70 and 100.
- The value of the car is also extremely important. It is useless to ask for a cheap insurance driving a luxurious vehicle that cost a fortune. The cheapest cars to insure are far from being expensive. Insurance companies calculate the risks connected with your coverage and take into account the total cost of the vehicle if it gets in the accident. Moreover, the price for repairs and the cost of its parts are incredibly important as well, as all the expenses are considered by the insurers.
- The size of car is critical too. It is interesting that SUVs and trucks are considered to have lower injury claims than small cars. That is why insurance companies make great discounts for midsize sedans rather than for compact cars. But everything differs in various companies.
- Car security also belongs to the features that lower the price of car insurance. The security rating is denoted by different letters and insurance companies prefer E or A categories as they are filled with various devices to protect the car such as high security locks, alarms, immobilizers etc.
These are common categories that characterize the cheapest cars to insure. According to the statistics of insurance companies such relatively cheap and safe automobiles like Toyota Yaris, Kio Rio, Volkswagen Up!, Hyundai i10, Renault Sandero belong to the cars that recently have been estimated the cheapest to insure.
Watch this video to find out the best features of the cheapest cars to insure: