Auto owners are required by federal and state laws to maintain at least auto liability insurance for all vehicles that are registered and operated on the road. A failure to comply with the insurance laws leads to fines and penalties for the auto owner. Reviewing 4 ways that the vehicle affects how much the owner pays in premiums helps auto owners control their costs more proactively.

1. The Year the Vehicle was Released

The age of the vehicle defines its value and how much the owner pays in insurance premiums. A brand-new car that is financed by a lender requires the highest amount of coverage. The combination of collision and comprehensive insurance presents a higher than average monthly premium payment. The terms of the auto loan require the buyer to maintain the coverage until the loan is paid off.

Older vehicles will have a lower value and won’t require high insurance premiums. Auto owners will save money if they purchase a vehicle that is at least ten years old. However, the same rules apply if the vehicle is financed. In most states, the auto owner must maintain at least auto liability coverage for the vehicle. This lowers the cost of the insurance premiums as long as the vehicle loan is paid in full. Auto owners who want to review coverage according to the age of their vehicle can visit abetterchoiceinsurance.com now.

2. Luxury and Sports Models

Luxury and sports models are valued at a higher rate than standard four-door sedans. When buying a luxury or sports car, the buyer will face higher than average auto insurance premiums just because of the body style. Luxury vehicles with additional letters after the model name increase the cost of the coverage, too. For example, a Mustang GT requires higher insurance premiums than a standard Mustang model.

3. Air Bags or No Air Bags

Airbags installed in the vehicle can decrease the auto insurance premiums for the owner. However, after the airbags have been deployed, the insurance premium increase even if the owner has the new airbags installed in the vehicle professionally. Airbags are necessary safety features for newer model vehicles. Some vehicles have a control that allows the auto owner to shut down the airbags to prevent them from deploying in non-life-threatening situations. The feature could prevent the insurance premium increase and help the owner manage their costs more effectively.

4. Anti-Theft Devices

Anti-theft devices can protect automobiles and lower the risk of theft and property loss. Installing car alarms in the vehicle decreases auto insurance premiums because it mitigates the risk of auto theft. Any devices that lower the risk to the vehicle including security or safety features can decrease the monthly premiums. This could include a keyless entry for some vehicles and auto start features. When assessing the cost of the premiums, the insurers identify all risks related to the vehicle, its make, and its model. Vehicles that are stolen more often that don’t have security systems could lead to an increase in insurance premiums based on the higher probability of theft.

Auto owners pay insurance premiums based on the age of their vehicle and whether it is a luxury or sports model. Safety features in the automobile and security systems can lower the cost of insurance and make it more affordable. Reviewing all factors that affect auto insurance costs helps owners control their expenses.