Is vehicle insurance for a used car more expensive than a new car, or less expensive?
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{ 5 comments… read them below or add one }
Try this site
http://www.usainsurancequotes.net/
here you can get quotes from different companies.
The insurance on a new car is more expensive.
A new car being totalled would cost more to replace for the insurance company.
Also your car insurance would be more expensive if you’re young (like guys under 25) because they statistically have more accidents. Both of my sons pay twice as much as myself but then it goes down when they reach 18 and goes down again when they reach 25.
Also if you have no accident and/or ticket, every year, your rate goes down (and goes up if you have an accident, even a minor one which you should not even report for that reason). I got a speed ticket once in a speed trap (doing 40mph going downhill on a large straight deserted road with a 25mph sign and the cop hiding at the end). I had to pay $130 fine and to get a class so my insurance company would not know about it and raise my rate for years to come.
You rate will be lower for "multiple vehicles" if you insure all the cars in your family with the same insurance company.
If you’re a student, you will have lower rate for complying to some testing, or having good grade and good school attendance, etc…since statistically good students have less accidents.
You rate will be based on statistics, the lower your insurance company thinks that you’re a risk, the lower your rate will be. Like if you commute with your car, your rate will be higher than if you don’t use it every day. How much mileage you have will also influence your rate.
New cars have a higher price tag and are more expensive to insure. Assuming similar make and model. Other factors are gender (females enjoy a lower rate) age (25-60) and past driving record. All factors in the premium price are based on actuarial considerations. An auto insurance agent should be able to to give you the factors that concern you.
There are a lot of factors.
1. Did you take drivers ed? yes-cheaper
2. How old are you?-the older the cheaper
3. Any accidents? Tickets? no-cheaper
4. Married or single? Married-cheaper
5. Full coverage or limited? Limited-cheaper, but it only covers other peoples cars, not yours
6. How much of a deductible you have. The higher the deductible, the cheaper the insurance
7. Type of car, 4 door station wagon is about the cheapest! 2 door sports type is going to be more expensive
8. Used car is probably going to be cheaper
9. Do you use it to go back and forth to work/school? Is it a far drive? If it is you might pay more too
10. Tort, full or limited, full-more expensive
This is just the stuff I can think of off the top of my head, call your insurance agent for more info.
Many things impact your auto insurance cost… The obvious of course: driving record, type of coverage, and the vehicle itself.
However, so does your location, your credit, your age and your education. The same folks the banks want to lend to, tend to be the folks insurance companies wish to insure.