WalletHub Report: How Car Insurance Premiums Vary by Car Price
May 21, 2014 | 1783 views | 1 1 comments | 7 7 recommendations | email to a friend | print
In addition to being the unofficial start to summer and an occasion for celebrating the sacrifices of our nation’s military, Memorial Day is also the year’s busiest weekend for car sales and the kick-off for a three-month span in which 27% of all annual car sales are recorded. With that in mind, WalletHub today followed up on its look at the Best & Worst States for Military Retirees with an analysis of the way in which car insurance premiums vary based on the type of car you buy, how old it is, how much it costs, and who makes it.

 

You can find a few highlights from our 2014 Insurance Premiums by Car Type Report below.
  • Insurance premiums for cars in the same price range can differ by as much as 26%, and the variation actually increases for more expensive vehicles.

     
  • Only about 25% of the variation in insurance premiums across car types can be attributed to differences in car price.

     
  • New sedans are almost $130 cheaper to insure than 3-years old sedans, on average.

     
  • Sports cars are the most expensive to insure, followed by trucks.

     
  • Key Takeaway: Consumers can avoid a post-purchase sticker shock by researching car insurance quotes before hitting the car lot.


For the full report, please visit: http://wallethub.com/edu/insurance-premiums-by-car-type/3969/

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anonymous
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May 21, 2014
AGAIN IT IS ALL ABOUT THE LAW REQUIRING YOU TO HAVE CAR INSURANCE, JUST LIKE THE LAW REQUIRING YOU TO HAVE HEALTH INSURANCE, JUST WAIT AND SEE,, NEXT IT WILL BE LIFE INSURANCE,, ARE YOU GETTING THE PICTURE YET,,

CALL GOVERNMENT STEALING YOUR MONEY!