Which Cars Offer the Lowest Insurance Premiums in California?
When it is time to buy a new car few people consider which model will provide the lowest insurance premium for California. However, for those looking to save money this is something that should definitely be considered. After all the rate difference between a two door and four door car of the same model can be significant. In addition, there are certain cars on the market that have a higher risk of being stolen or vandalized. Fortunately the Highway Loss Data Institute offers information on all the current statistics. You should also compare to find the lowest California auto insurance rates on our website to get a feel for different insurance providers pricing competition.
Get the Lowest California Car Insurance Premium
What is the HLDI?
The Highway Loss Data Institute or HLDI is a not for profit entity that is supported by the Insurance Institute for Highway Safety. The HLDI compiles statistical information about how consumers lose cars. There are several factors considered when the Institute determines which cars are best. They look at whether a model is stolen often, breaks down often, or is in accidents frequently.
Cars Rated “Most Likely Stolen”
Each year the list of the “top stolen cars” changes and is revised. The list also varies be geographical location. However, there are certain makes and models that always seem to find their way to the top. The Toyota Camry, Corolla, and pickup are some of the most stolen vehicles. Therefore these vehicles will likely have a higher insurance premium than similar vehicles from another maker. In most cases a two door vehicle has a higher chance of being stolen than a four door model.
The Cost of Replacement or Repair
One thing that impacts the cost of your California auto insurance is the cost of replacement or repair when you are in a wreck or the vehicle is stolen. The Cadillac Escalade and Lincoln Navigator are some of the highest cost vehicles to replace. Because these vehicles fall into the luxury category replacement parts and repairs are very expensive. You will pay more to have these vehicles covered.
Your Risk of Injury
When you buy a vehicle you are probably concerned with safety features and ratings. While you consider these aspects to keep you or your family safe, your insurance company considers these ratings based on how they will affect your insurance claim. If a specific vehicle has a high number of injuries during a crash the cost for insurance will be more. The insurance companies compiles statistics and risks for how much it will cost them when you are injured in an accident. In recent years the Mitsubishi Mirage, Kia Rio, and the Suzuki Esteem have had some of the highest injury claims during an accident. On the other hand the Chevy Tahoe and Silverado have had the lowest insurance claims.
When you are ready to buy a new car you should consider all of these factors. You want to chose a car that is least likely to get stolen, affordable to repair, and safest in crash test studies. If you can find a vehicle that performs well in all of these categories, your insurance premiums will be much more affordable.
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