If you are thinking about buying a car, you should understand that this is the most important time to consider the cost of auto insurance. If you own a car for several years, this will be a significant cost of operating your car. As you shop for a car, the following are a few important things to keep in mind.

The car model is a big factor in premiums

There is a wide range of insurance costs that are directly related to the model of the car. In general, the higher the price of the car, the higher the insurance cost. Obviously, sports cars are going to cost a lot. However, there are other factors to consider. One of them is the likelihood of the car being stolen. There are certain models that are more popular with car thieves. This is true with new cars, but there is also a large market for auto parts from stolen cars that are used. To get the lowest cost possible, you want a car that is not glamorous. The best way to get this information is from an insurance company.

If you are financing the car, you need full coverage

A lender will not allow you to drive without a policy that covers everything. Although they want you to pay back the loan, they are concerned about the collateral for the loan. If anything should happen to it, they want an insurance company to cover the costs of repairs, or in the case of theft, replace the car.

If you pay cash for a used car, it will keep the insurance cost down

If you consider yourself a good driver, and you can forego collision on your policy, you may want to pay cash for a car. Naturally, if you are paying cash for a new car, you'll want full coverage, but if you decide on a used car, then you may not want full coverage. There may be many aspects of a full coverage policy that you don't need. The key to lower cost with a used car is to not finance it. In addition, used cars have a lower sticker price, so they will be cheaper to insure.

Many insurance companies will offer safety discounts

There are likely several safety features that a car can have that will help to reduce your insurance costs. In addition, there may be discounts available that can affect the model you buy. For example, if you park your car in a garage, you may get a discount. But you may need to purchase a smaller car if you don't have room for a larger one.

One of the biggest expenses you will have with a car is an insurance policy. You need to think about auto insurance before you make your purchase. The model of the car and whether it is new or used are among the factors influencing insurance premiums.

Contact your insurance company to learn more about auto insurance coverage.