Type of car can influence insurance

When shopping for a new car, drivers have a number of costs and factors to keep in mind. One that often gets overlooked is the effect that a particular make or model will have on insurance premiums.

It may be just a few dollars a month, but over the life of a car, added insurance rates can account for hundreds or even thousands of dollars. For drivers on a bad credit auto loan, every dollar counts – which is why a safe and reliable vehicle can end up saving drivers money.

MSN reports that insurance companies weigh a number of considerations into their premiums. Features like anti-lock brakes, side curtain airbags and stability control systems can all bring rates down – so make sure that these are reported to the insurance company if these options were selected.

On the other hand, some types of vehicles can increase rates. Larger vehicles like SUVs and heavy-duty pickups typically cause more damage in crashes, meaning insurance payments will rise accordingly. And while drivers will save at the pump by buying a hybrid, the cars are more expensive to repair, meaning consumers will be paying more on their insurance.

Drivers should factor their monthly insurance costs into their budgeting for a new car. Shoppers may want to use an online car payment calculator in order to ensure that they can make their payments on time.