Posted on March 22, 2018
Cheapest New car insurance 2018 | Toronto, Ontario, Canada
Top Ten cheapest cars to insure in Canada in 2018:
- HONDA Odyssey LX
- Jeep Renegade Sport
- Jeep Wrangler Black Bear
- Honda CR-V LX
- Jeep Compass
- Subaru Outback 2.5l
- Jeep Cherokee Sport,
- Buick Encore and Jeep Patriot (tied)
- Subaru Forester 2.5l
- Ford Escape SE
There are a few factors involved in the cost of auto insurance, but it definitely helps to purchase a vehicle that ranks well on insurance cost lists. You'll be happy to learn that Jeep scores well on such lists, with the Jeep Renegade Sport, Jeep Wrangler Black Bear, Jeep Compass and Jeep Cherokee Sport models all coming in the top 10 most affordable vehicles to insure this year. When shopping for a new vehicle, it's important to figure insurance costs into your budget. Read on to learn what impacts the cost of insuring the car you've got your eye on.
Driver profile is a big influencer when it comes to insurance rates. Vehicles with added safety features and technologies are often driven by individuals who drive carefully because they have kids on board and a family-oriented lifestyle. In other words, they're probably not down at the drag strip after work. If you purchase a vehicle that falls into the family profile, you benefit from the insurance company's established driver profiles even if you aren't ferrying kids to and from hockey practice or school. Rates are determined by the insurance company's loss experience with a given vehicle model. The longer an insurance company insures a particular model, the more data they have on that vehicle to formulate a fair rate. Provided there aren't any spikes in the number of incidents (accidents, thefts) involving said model, the rate will probably be pretty stable. Brand new models with a less established incident record are tallied with other factors in mind, such as safety ratings, pricing of parts, anti-theft and anti-collision features.
Even if the car on your mind isn't among the best cars to insure list, you can still negotiate with your insurance provider for a better rate. Consider the 5 key factors that affect insurance rates as you begin to shop for a new vehicle. Number one is your own personal profile as a driver. If you have a history of accidents, for example, your rate will definitely be higher. Next, how much does it cost to repair or replace the vehicle? That will impact the comprehensive and collision sections of the insurance premium you will pay. If that model also has a history of frequent incidents or claims, that increases the rate. Can the vehicle cause more or less damage to other vehicles, properties, or persons? Check your liability and medical coverage sections in the insurance package. Lastly, the insurance company also has a target market when it comes to client and vehicle profiles. It helps to shop around locally to see which insurance company can give you the best deal with these aforementioned factors in mind.
How often and how much you drive also plays a part, as do your age and years of driving experience, where you live and commute, and yes, the intensity of weather conditions where you will be driving the vehicle. An important thing to keep in mind is that while staying with the same insurance company can, over time, see a drop in your rate if you maintain an excellent driving record, it may not be the cheapest insurance available. Research other providers to ensure that you are indeed getting the most competitive rate for your vehicle and driver profile.
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