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June 27, 2008, Newsletter Issue #148: New Car Insurance Costs
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Tip of the Week
If you are buying a new car, you need to consider the increased costs to insure and register the vehicle. Before you get your heart set on a specific model, narrow your field of possible cars down to a handful, and then check with your insurance company to see which ones are the most economical to insure.
You will be surprised how much of a difference in cost for insurance and registration can exist between seemingly similar cars. Other than car model, things that can affect your premiums include your driving record and where you live.
*Insurance companies frequently offer safe driver discounts to those with clean driving records. If you live in a low-crime neighborhood where car theft is a rare occurrence, you can shave as much as 15% off your premiums.
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