Are you shopping for a new car? There may be other factors to take into account besides how it drives and which colors you like. Just about everything in your car, including the year, make and model, can affect your rates.
Risk of theft can be a big factor in determining rates. Cars that are consistently on the yearly "Hot Wheels" list of most stolen cars, as compiled by the National Insurance Crime Bureau will cost more to insure. Some of the most popular models to steal include the Honda Accord, the Honda Civic and the Nissan Altima.
You might also want to consider the car's age. Bargain hunters may be drawn to older cars, which have less value to begin with. They are also cheaper to repair and replace, which will affect the rates. Unfortunately, the safety features on older cars may be lacking. "Cars with better safety ratings, and features like airbags and sensors, are cheaper to insure," said Mike.
Some other factors to consider are the car's size. "The rates seem to be more expensive for vehicles that are a little larger. They cause more damage," said Mike. And obviously, a smaller, peppier car with a younger—and maybe less cautious—driver will make some insurers leery.
Two similar cars can get very different rates, so be sure to note the vehicle ID number and contact your insurance agent before your purchase. And if you're in the market for car insurance, call Mike McBride at 503-538-8898 today!
Mike McBride Agency
1548 E FIRST ST., NEWBERG, OR 97132