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When it comes to vehicle insurance, everyone wants to purchase it as cheaply as they can.  Drivers can be proactive in keeping their insurance premiums down. It helps to know which cars are the cheapest to insure.

Everyone has their likes and dislikes when it comes to their vehicle of choice. It also includes the driver’s wants and needs. When buying a car, it means discerning between the must-haves and like to have. Especially if there is a budget.

Even if one can afford a high-end car can they also afford the insurance premiums that will come with it? Vehicle insurance in Canada is mandatory. So, there is no such thing as driving without it.

A Comparison of the Best Selling Cars That Also Glean the Cheapest Insurance Rate

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Vehicles that fit into the category of best sellers and cheapest to insure are the following. They hold the top ten positions for the most inexpensive insurance.

These ratings can change depending on variables like province and regions within each province. Within this top ten category, the difference between premiums can be up to a savings of $297.

What Metrics Do Insurance Companies Use When Evaluating the Vehicles?

Insurance companies will rely on various statistics to help them set their insurance rates. Also, they will look at different sources of expert opinions. There are two major factors taken into consideration.

The Cost of The Vehicle

Why should the Insurance company care about how much you pay for your vehicle? Just because they are the ones that have to foot the bill if the car needs replacing. Often a car is a write-off as a result of a collision. The Insurance company then has to pay to have the vehicle replaced. If it is a low-cost car, it keeps their costs down.

The Safety Rating of the Vehicle

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Many people when they are buying a vehicle focus on its safety features of it.  So do the insurance companies.
The new vehicles come with a whole host of new safety features. Some of these are for competitive reasons. Not all insurance companies consider them.

However, some vehicles already have several built-in safety features. It has been this way for quite some time. They get strong consideration from the Insurance Companies.

Airbags

Airbags are standard in new cars, so there are no issues there about them being an option. They have been mandatory in the manufacturing of vehicles since 1999. It may seem that this now has no bearing on insurance discounts. However, this may not be the case.

It is standard to have an inflatable airbag that is front-facing the driver and front seat passenger.  Some vehicles come with additional airbags. These side airbags. Many insurance companies will offer extra discounts for additional airbags.  It may also depend on the location of these additional airbags.

Anti Lock Brakes

Anti-lock brakes are commonplace because they have been around for a long time. Even so, there are several insurance companies that will offer extra discounts for vehicles that have these.

Seat Belts

Again a compulsory item that vehicles must possess. Wearing seatbelts in Canada is the law. As such they are not considered to be insurance reducers. What is possible is a discount for automatic seatbelts. Perhaps more prominent in the US than in Canada. There were a lot of issues with these, so they didn’t become popular with some of the car manufacturers.

Anti Theft Systems

Part of the coverage that comes with comprehensive insurance is theft of the vehicle. The insurance companies will pay close attention to the statistics of a location. If there is a high rate of vehicle theft, this could affect the premiums. Some insurance companies will encourage the use of anti-theft systems. To do this, they will offer a discount.

Modern High Tech Safety

Technology for vehicles is moving at a rapid pace. Insurance companies like to rely on statistics. Statistics take time to gather. For many of the new safety features, there are no safety metrics yet. Therefore, a lot of the Insurance companies are not taking these into account. It doesn’t mean that all of them are this way. It is worth asking about them when one is seeking out insurance.

What Used Cars are the Cheapest to Insure

It can be more difficult to determine which used cars create the cheapest insurance. It is because there are so many variables when it comes to used vehicles. The size and type, as well as the year, are factored in. It will also depend on some other factors. Most likely the Insurance company will refer to the value of the car based on reliable resources. For example, the Kelly Blue Book Guide. It is a  trusted guide in the auto industry for placing value on what a used car is worth.

Most likely if there is a claim on a used vehicle, it’s on the value presented by the Kelly Blue Book.

Shopping for Used Vehicle Insurance

Any individual concerned about the insurance costs on a vehicle before buying it should check out the Kelly Blue Book value. It will give an idea of the value of the car that’s used by the Insurance Company. The lower the replacement value is, the lower the premium will likely be. However, there is a consideration for many other factors.

Getting a Good Deal On Insurance

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Starting with some insurance quotes is a good starting point. They are a good resource for shopping for used vehicle insurance. Some use them to determine what is available for cars they are thinking of buying. It helps them determine if the insurance will be affordable. Others use quotes to find better deals on the insurance that they have now. Shopping for insurance this way is a big time saver and also a money saver.

About the Author: Ashley Miller

Ashley is an insurance content professional and very knowledgeable on all related subjects. Ashley has over 12 years of insurance content writing experience working with various insurance companies throughout her career.