The Cheapest Car Insurance Premiums

Car insurance premiums differ across a wide range of criteria but your choice of car can make a big difference to how much you pay on your insurance rates. The ultimate cost of you auto insurance depends on factors as diverse as where you live, how you drive and your credit rating as well as the value of your car. Luxury models packed with safety features will cost more than no-frills models because it will cost more to fix them and such cars are more likely to get damaged. However, according to a recent 2004 survey certain models of car saved consumers money on their auto insurance rates. (Don’t forget that your mileage may influence the ultimate cost of your car insurance premiums).

For example, according to a recent article on MSN Money a $14,000 Dodge Neon costs about the same amount to insure as a $34,000 Volvo XC70. The Neon will cost about $4,410 in premiums over five years with the Volvo setting you back by about $4,605. Why should this be so?

The Volvo will get lower car insurance premiums with most insurance companies due to three important factors. It is less likely to damage other cars during an accident, likely to suffer less theft and damage and during an accident it will protect its occupants better than many other models. Not so with the Neon.

According to Edmunds.com the following ten models scored the lowest car insurance premiums:

* Chrysler PT Cruiser 4dr Wagon (2.4L 4cyl 5M)

* GMC Safari SLE AWD 3dr Minivan (4.3L 6cyl 4A)

* Dodge Caravan SE 4dr Minivan (2.4L 4cyl 4A)

* Saturn ION 1 4dr Sedan (2.2L 4cyl 5M)

* Pontiac Sunfire 2dr Coupe (2.2L 4cyl 5M)

* Jeep Liberty Sport 4WD 4dr SUV (2.4L 4cyl 5M)

* Saturn L300 1 4dr Sedan (2.2L 4cyl 4A)

* Volvo S40 4dr Sedan (1.9L 4cyl Turbo 5A)

* Saab 38600 Linear 2.3t 4dr SportWagon (2.3L 4cyl Turbo 5M)

* Buick Century Special Edition 4dr Sedan (3.1L 6cyl 4A)

(Car insurance premiums are based on figures for the Chicago area)

Source: Edmunds.com

If you want to know how your model scores on the car insurance premiums ladder then check out State Farm’s ratings. On their Web site you will be able to rate them based on 1) liability: how much damage the cars cause to others in a crash 2) Safety: how well the cars protect passengers during a crash and 3) Damage and theft: likelihood of damage, cost of repairs and the chance of theft.