Why are newer cars harder to insure?
If you have recently bought a car, then you must quickly purchase car insurance. Finding the right policy the car can be quite a hassle and frustrating. And if you own a brand new car, well, prices will tend to be higher. Saying that “new cars are always more expensive to insure” is wrong, but if you rephrase it as “new cars usually are more expensive to insure”, things get closer to the truth. Read the following lines and you will find out why. But do not forget to obtain quotes before applying to any policy.
For all auto insurance companies, make and models of the cars matter a lot. But the model is more important than the year when it was produced. A sleek, super-fast race car is pricier to ensure than a safe family car. And if you drive a spanking new race car, the cost might be a bit spicy. New cars are also the top targets of car thieves. If many new cars were reported stolen, well, the insurance company will rely on those statistics and will charge you extra.
However, new cars may have a good advantage over the older models: safety. In the past, the only safety measure was the seatbelt. Nowadays, cars come equipped with state of the art safety devices and sensors. In many cases, this is a good reason for the insurance companies to lower the rates and make the policy less expensive.
As you may see, things are a bit complicated when it comes to insuring new cars. If it is very valuable and targeted by thieves, you will pay a whole lot more. But you can ask for lower prices if you consider the car safe enough. This is why we recommend you to use quotes and compare prices.
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