Bought the Wrong Car

It is the course of wisdom to call your agent or company to find out what the insurance will cost you before you purchase a car verses after you buy it. The reason is because the price of the insurance may be much higher than you anticipate.

The rate difference between a Minivan and a Mini Cooper can be substantial. It’s even worse when you have a teenage driver in your household. Add a sports car to your policy with a teen driver and watch your car insurance premiums hit the stratosphere.

Click Here if your insurance premiums have gone up more than you think is reasonable and you will receive online insurance quotes from companies who will not necessarily penalize you too badly if you buy a high performance car, or have teenager drivers with tickets and accidents on their driving record.

Keep this in mind as you are considering the purchase of a new car. Unless you have plenty of cash to flush down the toilet on high car insurance premiums, avoid any type of sports car when you have teenage drivers in the household, or you have a bad driving record.

Depending on what kind of sports car you buy you could get dropped altogether or your premiums may increase by three times as your company views you as a high risk driver if you buy the wrong car.

In addition, some insurance companies have a tendency to rate the youngest teen driver in your household on the most expensive vehicle. So if you decided to buy a Porsche 911 Targa 4 that has a maximum rated speed of one hundred seventy seven miles per hour and sells for about ninety thousand dollars, hold on to your seats for a colossal rate increase on your car insurance because your sixteen year old teenage son may be the one rated on that car.

Of course most of us would not invest ninety thousand dollars for a sports car; however there are some more reasonably priced sports cars that would affect your car insurance premiums almost as badly as the Porsche 911 Targa 4.

For teen drivers keep in mind this rule, if you buy an older four door sedan with a four cylinder engine (not turbo charged) that only needs liability coverage, this will help you maintain low car insurance rates. Or if there are three drivers in the household and only two cars, one driver could be rated as an occasional driver, helping to lower your car insurance rates.

Avoid the temptation to buy a four wheel drive truck or jeep for your teenage driver as these vehicles carry much higher premiums due to the higher risk of accidents and claims. (Let’s go four wheeling)

Further information can be found on our blog showing a specific strategy known as the driver’s exclusion clause, which some insurance companies allow, that may save you a fortune on high car insurance premiums when someone in your household has many tickets and accidents.

Click Here if you want to save hundreds, and possibly thousands of dollars from insurance companies who want to insure Hummers, Land Cruisers, Aston Martins, Bentley’s and any sport car with or without teenage drivers on your policy.