* The car itself: The make, model, year, and safety features all affect the cost. Luxury cars and high-performance vehicles are generally more expensive to insure due to higher repair costs and a higher risk of theft.
* Your driving record: This is arguably the most significant factor. Accidents, speeding tickets, and DUI convictions will dramatically increase your premiums. A clean driving record will result in lower rates.
* Your age and gender: Younger drivers, especially males, typically pay more due to statistically higher accident rates.
* Your location: Insurance rates vary by state and even by zip code due to differences in accident rates, crime rates, and the cost of repairs.
* Your coverage level: The amount of coverage you choose (liability, collision, comprehensive, etc.) directly impacts your premium. More coverage means higher costs.
* Your credit score (in some states): In many states, your credit score is a factor in determining your insurance rates. A higher credit score generally leads to lower premiums.
* Your driving habits: Some insurers offer discounts for features like telematics (devices that track your driving behavior).
To get an accurate estimate, you need to:
1. Get quotes from multiple insurance companies. Don't just rely on one quote. Compare prices from at least three or four different insurers.
2. Provide accurate information. Be honest and thorough when filling out the application to get the most accurate quote.
In short, you could pay anywhere from a few hundred dollars to over a thousand dollars per year for car insurance on a new car. The only way to know for sure is to get personalized quotes from insurance providers.
