Lowest Insurance Rates for Your Car

March 21, 2012

Its almost that time of the year where I have to pay my semi-annual car insurance bill. I dread it, mostly because I am the reason behind why the rate is as high as it is.  Well, its a combination of my need for speed (speeding tickets), a car accident, and a newer, fancier car. All of this results in classifying me a high risk driver.

When you’re looking for the lowest insurance rates for your car, there’s more to finding a great price than just company-specific discounts. Considering that you probably aren’t looking to drive a historic fixer-upper – which, by the way, usually don’t cost a lot to insure for sheer virtue of their age – you’re going to have to do some digging.  Ideally, you’re looking for a car that has an excellent safety rating, low cost of repair, and it’s popular among car buyers.

Here are a few vehicles that are known to consistently command cheap car insurance rates for their owners:

  1. Subaru Outback. Known for its above average crash safety rating, the Outback is great option if you’re looking for a vehicle that can handle both city and off-road driving. While the safety rating of the Outback is largely responsible for its low insurance premium, its affordability and reliability also play a part, too.
  2. Toyota 4-Runner. Although not for everyone, the 4-Runner is a great choice if you’re trying to find a vehicle that can accommodate a small family, while still being affordable when it comes to gas and insurance. That being said, if you don’t think you need a lot of space, then this probably isn’t the vehicle for you – there are plenty of other smaller cars out there that can save you more on gas.
  3. Honda Civic. Consistently rated as one of the safest vehicles to drive, the Civic is both affordable and excellent when it comes to getting the lowest insurance rates for your car. Combined with its relatively low theft rate, it’s an all around great little car for the budget-conscious driver.
  4. Minivans. While most people don’t want to admit they’re driving around in a Minivan before 30, most models are actually one of the cheapest vehicles to insure. If your current car insurances rates are killing your monthly budget, then you may want to consider trading some of that coolness-factor in for a steeper discounted rate. Besides, you probably won’t have to worry about your car getting stolen, either!

In addition to where you live, and the year of the vehicle, it’s important to remember that there are other factors that determine how cheap your car insurance premium will end up being. For instance, age, credit score and safe driving history influence the lowest insurance rates for your car. Likewise, the insurance company will also look at how expensive replacement parts for your vehicle are just in case you end up in a collision. And, depending on the crime rate in your location, vehicles are also evaluated for their likelihood to end up stolen, too.

On a final note, there are many other vehicles to choose from that have a low car insurance rate – you just have to know what features you’re looking for to find them. The best thing that you can do to get the lowest insurance rates for your car is to directly speak with a car insurance agent to find out what criteria they’re looking at

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  • Michelle March 21, 2012 at 12:22 pm

    My 6 month premium is due next month. Not looking forward to that, however, my bill isn’t too bad. It’s less than 400 for 6 months and it’s full coverage on my 2008 car.

    • Marissa March 22, 2012 at 4:12 am

      I pay $1800. I suddenly hate living in Canada.

  • Daisy @ Add Vodka March 21, 2012 at 1:39 pm

    Awesome! The car I just bought in January is a Honda Civic. But my insurance is still almost $300/month. Stupid fender bender. I’m sure it will decrease by a big chunk when I get that fender bender paid off but right now, it’s insane.

    • Marissa March 22, 2012 at 4:13 am

      I have having to pay higher premiums. Some insurance companies have a “grace” accident, but it stays on your record if you switch.

  • Christopher @ This That and The MBA March 21, 2012 at 1:40 pm

    What would nelson from the financial uproar think of you driving a minivan?? lol you may be taken off his list that he just published…lol…

    It is good to shop around every so often too to make sure that you are still getting a competitive rate.

    I would have thought a civic would be high because it seems like what alot of kids drive…maybe i am just old and thats what they did when i was younger

    • Marissa March 22, 2012 at 4:14 am

      I owned a Civic! That is until I crashed it, then I allowed my impulsive best friend to talk me into a fancy car.

  • Broke Professionals March 21, 2012 at 4:21 pm

    I just paid my car insurance last week – yuck. I’ve always been struck by how my newer SUV has lower premiums than my nominally older sedan (both made by the same company). My frugal mother owns an outback – and now I know why!

    • Marissa March 22, 2012 at 4:14 am

      It does? Thats really strange.

  • Jai Catalano March 21, 2012 at 6:48 pm

    We have a Honda Accord. Insurance isn’t too bad. Married with 2 kids helps. Plus you have to tell the Ins co. what they want to hear to get a good rate.

    IE. It’s garage kept. Well it is kind of garage kept. I park it on the street in front of the garage. 🙂

    • Marissa March 22, 2012 at 4:15 am

      I was “this close” to getting married just for the lower insurance rate….. thats another story.

  • MyMoneyDesign March 21, 2012 at 9:28 pm

    You have a good suggestion to target getting cars that will give you a lower insurance premium. As a used car buyer, high insurance does not become an issue for me. Regardless, I do try to squeeze my insurance providers as much as possible. I will usually get two quotes from two different online services, and then I send them to my current insurance provider to see if I can get a better rate. It usually works!

  • Paul @ The Frugal Toad March 22, 2012 at 2:31 am

    Perfect timing Marissa! I need to get a quote for our insurance policies.

    • Marissa March 22, 2012 at 4:17 am

      I do that every 6 months in hopes that my rates have gone down. 🙂

  • SB @ One Cent At A Time March 22, 2012 at 2:41 am

    I have Toyota Camry, the premium is not high, I think I am getting a good deal from Geico.

    • Marissa March 22, 2012 at 4:17 am

      I wonder how much money gieco can save you if they stopped running those ads with the animated lizard….

  • Jen @ SheBloggs March 21, 2012 at 10:52 pm

    This post has such good timing for me! I spent a few hours shopping around for car insurance yesterday. What I found is bundling my home and auto insurance with one provider made a huge difference for me.

    BTW, I would totally trade in the coolness factor if it means I’d save money 🙂

    • Marissa March 22, 2012 at 4:16 am

      I have never thought of that. I normally use Progressive or Kenitix to check rates.

    • Marissa March 22, 2012 at 4:16 am

      Peffff.. I don’t believe you.

  • Tom@San Jose Auto Insurance March 23, 2012 at 3:18 am

    Thanks for the nice overview. I love my Honda Civic and the dependability and money the car saves me. Another good way to save money on your premiums is benefiting from low mileage. Many car insurance companies are embracing usage based car insurance where your premiums are tied to how many miles you drive.

  • Nell @ Housewife Empire March 23, 2012 at 6:54 am

    Good explanation. Makes me want to invest in a 4 Runner. I don’t know where my insurance company comes up with it’s quotes. I have like 0 tickets and a perfect driving record, but it varied wildly from Progressive to Geico. Go figure.

  • Young Professional Finances March 26, 2012 at 11:04 pm

    I love that you guys have a Subaru! I’m a Subaru fan thanks to my dad and love all of their cars – the 2011 Outback is really nice.

  • Rafiki March 28, 2012 at 12:02 am

    I am dreading what my premium is going to be this year, it is coming up to the end of my first year and I already got in an accident because of rushing and stupidity. Nothing major but I know they will use any excuse to raise my insurance.

    • Marissa March 28, 2012 at 3:34 am

      Oh man, I am dreading mine as well. I am trying to be a better driver so my premiums drop!

  • Kelly July 15, 2012 at 2:04 pm

    Thanks for enumerating examples of car that gets cheap car insurance rate. I guess I really have to stay away from tickets and small accidents from now on to get lower payment.

  • linda November 22, 2012 at 7:07 am

    amazing……..tickets, an accident………i mean u have done everything to pull up your insurance premium;)
    now i would like to advice u to control ur credit scores if u hav a cc!!