Car insurance rates are based on a number of factors, including the type of car you drive. Generally, newer and more expensive cars cost more to insure than older and less expensive models. This is because newer cars are more likely to be involved in an accident, and they also tend to have higher repair costs.

If you have an older or less-valuable car, you may be able to save on your premium by dropping certain types of coverage, such as collision or comprehensive. However, this only makes sense if the savings are greater than the cost of repairing or replacing your car if it’s damaged.

3. Buy A Late Model Car

Don’t Insure A Car You Don’t Drive Often

When you purchase car insurance, you are agreeing to pay a premium in exchange for protection in the event of an accident. However, many people fail to realize that the amount of your premium is partly based on how often you drive your car. If you only use your car for occasional errands or short trips, you may be able to get by with a lower level of coverage than someone who commutes long distances every day.

If you have a car that you don’t drive very often, you may be able to save on your premium by excluding it from your policy. This only makes sense if the car is fully paid off and you have other transportation options available, such as public transit or ridesharing.

Next Up… Take Advantage Of Telematics Programs