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The Most Affordable Cars to Insure

Each year, the Highway Loss Data Institute (HLDI) makes a list of the most and least expensive cars to insure. The HLDI takes into account a variety of factors when compiling these lists such as personal injury protection and damage liability. However, the most important factor is collision liability. The following lists of vehicles are the least expensive to insure.

• Small Sports Car-- Pontiac Solstice
• Midsize Luxury SUV--Volvo XC90
• Small SUV-- Jeep Wrangler LWB 2-door
• Midsize Luxury--BMW 3 Series Wagon
• Small Pickups--Dodge Dakota Quad Cab
• Small Four-door--Honda Civic
• Midsize Four-door--Subaru Outback 4WD
• Large Luxury SUV--Land Rover LR3

Consider a used vehicle

There is nothing like the purchase of a brand new car. New cars still have fresh plastic mats directly from the manufacturing plants, as well as the instantly recognizable new car smell. However, there are some drawbacks when purchasing a new vehicle. First, there is the high amount of depreciation. Next and more importantly, is the higher cost of insurance that is associated with new cars.

The rule of thumb is that the more expensive a car is, the more it will cost to insure. While there are some new cars that will be more affordable to carry appropriate auto insurance on than used cars, the majority of new cars will be more expensive then their used counterparts to insure.

Theft

In 2006, there were 1,192,809 motor vehicles reported stolen. This number, while great, is 42,417 fewer than 2005. This year is the third straight year that vehicle theft is on the decline. However, the recovery rate for vehicles continues to decline. According to the National Insurance Crime Bureau statistics, the following list of cars and trucks were the most stolen vehicles of 2006. The frequency of reported theft greatly factors into the calculation of your auto insurance.

Before the purchase of either a new or used vehicle, it is important that you consult with your preferred auto insurance provider or list of potential providers, to see if your choice of vehicle will cost more due to theft. The cars listed below are high on the theft list:

1.  1995 Honda Civic
2.  1991 Honda Accord
3.  1989 Toyota Camry
4.  1997 Ford F-150 Series Pickup
5.  2005 Dodge Ram Pickup
6.  1994 Chevrolet C/K 1500 Pickup
7.  1994 Nissan Sentra
8.  1994 Dodge Caravan
9.  1994 Saturn SL
10. 1990 Acura Integra

What you really pay for a sports car

Sports cars are the most exciting vehicles available for purchase. Usually more fun to drive than typical “family” cars, sports cars are more responsive and faster than a typical car. However, the high sticker price is not the only thing that is expensive about sports cars. First, there is the issue of fuel consumption. Sports cars get lower gas mileage than regular cars. While this may not seem like much at first, given time, the sports car owner surely has to think twice about a cross-country road trip. Next, there is the issue of costly maintenance.

Finally, there is the issue of auto insurance. Sports cars are expensive, fast, and rare. These three factors all add up to a more expensive insurance premium. It is important to consult with an insurance agent to discuss the extra cost you will incur when insuring a sports car.

Consider a hybrid

While most models of hybrids has reached their tax limits. It is still a smart decision to buy a hybrid vehicle. Though you will pay more up front, the long-term benefits far outweigh the initial sticker price. Typical hybrid owners recoup their initial sticker price bump within five years. Hybrid drivers are also eligible for additional discounts with select auto insurance providers because they are less likely to have accidents.

Discounts

If you have your mind made up about a specific make and model of a vehicle regardless of the insurance costs, there are still some ways to save money on your policy. Ask your agent about discounts for theft prevention and recovery devices, additional safety devices, as well as discounts for the good students in your family.