Planning to buy a new car ..

Posted: Thu Aug 14, 2008 02:02 pm Post Subject:

Well yes, the premium would be _slightly_ higher on that type of vehicle but it's not like you really ever see what that increase is as it there is not a "high risk of theft" amount _added_ to the policy... it's just built into the price. If it's more likely that a carrier is going to pay a claim, the exposure is said to be greater so the price of the policy is higher. But this increase comes in the form of a higher cost for comprehensive coverage only. So I guess I have to back track a little on what I said above... you can slightly see this affect as the you can see just the cost of comprehensive coverage on your policy. Still, in the big picture, it probably won't amount to much as there are just too many other factors that change from vehicle to vehicle. Another example is how expensive it is to repair the vehicle. We really don't know that until it goes into a repair shop so how much of that increased comprehensive premium is because of the vehicle's high theft rate and how much is because it cost a lot to repair? You can't know for sure... you can only know that there is some slight increase on vehicles more likely to be stolen.

Posted: Thu Aug 14, 2008 05:14 pm Post Subject:

Thank you tcope for your reply .. I have to still clear myself of some doubts still .What you are saying is the premium will only increase only if I go for a comprehensive insurance coverage ?and that too it will be only a marginal increase and not something which is very appreciable from the regular normal insurance of some other normal vehicles ..?

Posted: Thu Aug 14, 2008 07:09 pm Post Subject:

I could not have said it better myself.

Posted: Fri Aug 15, 2008 04:39 am Post Subject:

Well, the insurers do assign some amount of risk to the make and model of the car, but that is not all. There are other factors more important than the type of the vehicle that determines the rate of the premium, like- the age and gender of the driver, his/her driving history, overall market for insurance, density of vehicle in the area, etc.

~jeremy

Posted: Fri Aug 15, 2008 08:50 am Post Subject:

Hi there..
See, there are some chances that you'd get a fair amount of discount for your premiums when you already have a car covered with the same insurer. The carrier also comes to believe that your chances of an accident with the new car gets reduced since you're gonna use both cars simultaneously.

Insurers would judge your car also in terms of its safety equipments, since they'd need to determine how much it is accessible to the thieves. So the facilities & the design of your car are important deciding factors.
We have often discussed about the 'distance covered by cars' as an important factor towards deciding the rate. I say this because more distance the car covers, more likely it is gonna get damaged by another car.
Also they would count upon the location of your car, since they gotta offer you more rates in case you're using your car within a large city. This is since the number of car hazards & burglaries are more in cities.
Wish you pick the best car & the right policy for yourself!
Evan

Posted: Fri Aug 15, 2008 06:29 pm Post Subject:

Also things to consider-car color- bright colors have higher premiums. Plus if you add more features- like tvs, expensive rims- those wont be covered.
If you add a security system, that will lowers your premium.

Good luck!

low.com/insurance=auto insurance

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Posted: Fri Aug 15, 2008 06:46 pm Post Subject:

Also things to consider-car color- bright colors have higher premiums.

Posted: Fri Aug 15, 2008 10:46 pm Post Subject:

Also things to consider-car color- bright colors have higher premiums

Posted: Thu Aug 21, 2008 03:19 pm Post Subject:

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Posted: Fri Aug 22, 2008 04:37 am Post Subject:

Oh I didn't knew that adding a security system can actually lower the insurance premium ..Thanks for the tip..