The car you choose may result in low cost car insurance

Everybody is looking for ways to save money, especially with low cost car insurance. Surprisingly, one of the most obvious ways to save on motorist coverage is to purchase a vehicle that costs less to insure. Discover how insurance companies group cars and why it makes a difference to your pocketbook.

Group classifications

Although, you may prefer a fancy looking car with style to match your image, it is often cheaper to go with a sensible car. Insurers have worked out a system for classifying car types into different groups. Groups range from 1 to 20. Cars rated in lower groups typically have low cost car insurance, whilst cars at the top of the scale lend themselves to the highest premiums.

Your insurance company relies on several factors when determining group classifications for cars. For instance, a favourable car may have cheaper parts, which are readily available. Because the parts cost less than other types this saves insurance companies money. In addition, the fact that they are normally in stock means your car is repaired faster, which lessons the amount of time required for a rental car.

Insurance companies also take into account the total cost of the car. Should a car be involved in a bad accident and declared totalled, less expensive cars would have the more favourable ratings.

Cheap cars to insure

Insurance companies rate the Vauxhall Corsa with a smaller engine as a group 1 because it is inexpensive to fix and considered safe.

Parts are easily available on Ford Fiestas with low specs. It is classified as group one, which makes it ideal for younger drivers seeking lower cost insurance.

The Renault Clio and Peugeot 206 with lower specifications fall into the range of group 2.

Saving money

You can even get low cost car insurance on a cherished classic. Drivers who own a classic car adore their vehicles and therefore drive carefully and sensibly, which saves them money on insurance. A quick call to your insurance agent for price quotes on different makes of cars may save money and time.

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