Call Us 303.960.5290 ☰ ˟
  • Home
  • Personal Insurance
    • Car Insurance
    • Classic Car Insurance
    • Homeowners Insurance
    • High Value Homeowners Insurance
    • Condo/Townhome Insurance
    • Renters Insurance
    • Rental Property Insurance
    • Flood Insurance
    • Umbrella/Excess Liability Insurance
    • Builders Risk
    • Motorcycle Insurance
    • Recreational Vehicle Insurance
    • Boat and Watercraft Insurance
  • Commercial Insurance
    • Business Owners Package (BOP) Insurance
    • General Liability
    • Commercial Property Insurance
    • Commercial/Business Auto Insurance
    • Umbrella/Excess Liability Insurance
    • HOA/Homeowner Association Insurance
    • Cyber Liability/Data Breach Insurance
    • Directors & Officer Insurance
    • Apartment Building Insurance
    • Restaurant Insurance
    • DayCare Center Insurance
    • Flood Insurance - Business
    • Liquor Liability
    • Farm Insurance
    • Workers Compensation
    • Surety Bonds
  • Make A Payment
  • Blog
  • Resources
    • How Insurance works
    • 10 Steps to Starting a Small Business in Colorado
    • Insurance Glossary
    • Frequently Asked Questions
    • Why Choose a Broker
    • Privacy Policy
    • Calculators
  • About Us
    • Service You Can Expect | Denver West Insurance Brokers
    • Location
    • Testimonials
    • Contact Us
Logo (303) 960-5290


Home > Blog > What are Insurance Cost Factors to Consider when Buying a New Car?
TUESDAY, MAY 1, 2018

What are Insurance Cost Factors to Consider when Buying a New Car?

Before purchasing a new car, we always advise our Denver Area Insurance Clients to call us first.  Give us the year, make, model and VIN number of the car you are dreaming to own and we are happy to provide a quote of the cost to insure your dream ride.  It’s always best to get this cost ‘first’ and calculate it into your monthly payment to make sure you can afford this car.  Many clients are sadden to find out the true expense of owning this new car….if they call us ‘after’ the purchase.

The Insurance Institute for Highway Safety is the leading authority on crash tests and safety ratings.  Insurance carriers use the information they provide (as well as other sources)  to determine the rate to charge for your new Car. The cost to insure differs from car to car according to many factors.  But the safety features of the car, plays a major role in the cost to insure it.  How well it holds up in an accident, injury payouts to other vehicles and passengers riding in this vehicle, roof strength, crash avoidance systems are also major pricing components. 

 

CARFAX is an online Database that tracks the history of any vehicle according to the VIN number. We also suggest purchasing a subscription and check the history of the vehicles ownership, maintenance records, accident record, mileage rollback etc.  Your insurance rate might be higher if you purchase a make and model with a high accident rate or low threshold for damage.

 

The age  and ‘cost new’  of the car is also a factor in the cost to insure.  Newer more expensive cars cost the insurance carrier more to replace if damaged, so they charge you more for insurance.  Buying an older, less expensive car may save you money.  And if the car is worth less than around $3,000 or $4,000  you might want to consider saving money on Denver Area Car insurance by dropping Comprehensive and Collision coverage on the car and just carrying liability  and coverage for injuries in your car.  Comp and Collision coverage in the Denver area can cost up to 50% of the annual car insurance premium you will pay.

Note: Data and information provided on this site is for informational purposes only and should not be considered professional advice. Denver West Insurance Brokers makes no representations as to accuracy, or validity of any information on this site and will not be liable for any errors, omissions, losses, injuries, or damages arising from its display or use.

 

 

Posted 11:33 AM

Tags: auto insurance
Share |


NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015

  • just good information(56)
  • home insurance(44)
  • auto insurance(32)
  • commercial insurance(23)
  • business insurance(22)
  • small business insurance(20)
  • homeowners insurance(16)
  • renters insurance(10)
  • car insurance(9)
  • automobile insurance(7)
  • investment property insurance(7)
  • landlord insurance(7)
  • liability umbrella insurance(5)
  • vehicle insurance(5)
  • commercial auto insurance(5)
  • life insurance(3)
  • liability insurance(3)
  • property and casualty insurance(3)
  • hoa insurance(2)
  • rental home insurance(2)
  • landlord home insurance(2)
  • professional liability insurance(2)
  • commercial liability insurance(1)
  • londlord homeowners insurance(1)
  • homeowner insurance(1)
  • commercial general liability insurance(1)
  • general liability(1)
  • home owners insurance(1)
  • commercial automodile insurance(1)
  • term life insurance(1)
  • special event insurance(1)
  • landlord homeowners insurance(1)
  • online internet store insurance(1)
  • commercial automobile insurance(1)
  • investnment property insurance(1)

View Mobile Version
Why Independent Agent?:

Because independent insurance agencies, like Denver West Insurance Brokers, represent a number of different insurance companies, and can compare coverage and prices to find the best possible value for your individual circumstances. As independent agents, we are members of the Denver and surrounding metro community, and we’re committed to doing business face-to-face and being your advocate in times of need.
Continue Reading


Logo
A Member of Alliance Ins Group
722 Washington Ave #C205
Golden, CO 80401

Ph: 303.960.5290
Fx: 303.988.8390
Logo
A Member of Alliance Ins Group
620 E. Main St.
Frisco, CO 80443

Ph: 970-930-2200
Fx: 303-988-8390


Social Social Social
Home Blog About Us Meet Us Contact Us

Powered by Insurance Website Builder