* The driver's driving record: A clean record is essential. Even a minor infraction can significantly increase premiums.
* The driver's location: Insurance rates vary wildly by state and even zip code due to accident rates and claim frequency.
* The insurance company: Different insurers have different rating systems. Comparing quotes from multiple companies is crucial.
* The car's features: While the model itself is a factor, features like anti-theft systems, airbags, and safety ratings can influence premiums.
* Coverage levels: Higher coverage limits will cost more.
That said, generally speaking, insurance companies tend to favor older, smaller, less powerful cars with good safety ratings for young, inexperienced drivers. These often translate to lower premiums because they are:
* Less likely to be involved in serious accidents: Smaller, slower cars are statistically less likely to cause severe injury or damage.
* Less expensive to repair: Repair costs are a significant factor in insurance premiums. Older, less technologically advanced cars are usually cheaper to fix.
* Less appealing to thieves: Older, less desirable models are less frequently targeted by thieves.
Types of cars often suggested:
* Older, smaller sedans: Think Honda Civic (older models), Toyota Corolla (older models), Mazda3 (older models), or similar.
* Hatchbacks: Similar makes and models to the sedans mentioned above, but in hatchback body styles.
Crucially, don't focus solely on the car's initial purchase price. The insurance cost over the next few years will likely far outweigh the difference in purchase price between a slightly more expensive, safer car and a very cheap one.
Recommendation:
Get quotes from multiple insurance companies. Provide them with the details of several used car options you are considering and compare the total costs, including the purchase price of the car *and* the insurance premiums over a period of, say, 3 years. This comprehensive approach will give you the best idea of what's truly the cheapest option in the long run.
