Are you thinking about purchasing a new car?

The average person spends about 10 hours conducting research on vehicles before actually purchasing one. But throughout that research process, many people never really consider how much the new car will affect their auto insurance. Although you probably will not base your purchase just on how much your insurance will increase or decrease, it is still good to know the factors that affect your policy.

There are 4 basic rating factors that most auto insurance companies look at when basing monthly premiums. These factors are:

  • Likelihood driver or passengers in the vehicle will be injured
  • Sum of injury or damage the vehicle can cause to others
  • Cost to repair the automobile after collision
  • Likelihood the car will be vandalized or stolen

However, there are even more factors that need to be considered. For example, a light car may contribute to a higher rate because it can’t protect you as well as a heavier car. If you have a light car with significant safety features, on the one hand it protects you, on the other it costs more to repair after an accident.

To learn more about buying a new car and how it affects insurance, contact Pulp Street Corporation.

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