If you’re looking for a new vehicle and are looking at saving on your car insurance premiums, there’s one thing you need to know. Safety ratings have a direct effect on your car insurance premiums! Of course, this makes sense, as the safer a vehicle is, the more likely that the overall cost to the insurance company in case of an accident will be lower. This is especially true when it comes to personal injury claims.
You’ve probably heard a lot about the IIHS Top Safety Picks. When you’re considering buying a new vehicle, especially one for your family or business, these are definitely good vehicles to consider. Here are the current IIHS Top Safety Picks. But don’t worry if your favorite vehicle isn’t on this list, as these are just for the picks for the current model year. You can search for the safety ratings of your current vehicle and any vehicle you desire on the IIHS website.
There are other websites on which you can check vehicle safety ratings:
- Informed for Life – non-profit organization that combines IIHS and NHTSA ratings
- Safecar.gov – Government-funded safety ratings.
- Motortrend.com – Safety ratings from Motor Trend magazine
Additionally, Carfax.com has a list of recalls on various vehicles. If a vehicle you are considering is on this list, you may want to choose another vehicle. If your current vehicle is on this list, it’s very important to see what the recall is about. While recalls can be inconvenient, the car manufacturer will cover the costs of any necessary repairs, and often the expense of a replacement vehicle while the repairs are being done. As it’s very likely a safety related issue, cars on recall lists tend to have higher insurance premiums attached to them – so keep this in mind.
On the other hand, if you see your current vehicle highly rated on any of these lists, be sure to bring it up with your insurance provider. You may be eligible for discounts that weren’t originally considered on your policy. When purchasing a new vehicle, be sure that any eligible insurance premium discounts are included, as well. You could save hundreds of dollars on your insurance every year.
An attentive insurance agent will be sure to check for discounts when you are renewing your auto insurance policy. Still, be sure to ask. Every insurance carrier is somewhat different in how they consider the safety ratings when they calculate your policy’s premiums. Since there are various rating systems out there, your insurance agent will help you to find the carrier that benefits you the most when it comes to your current or future vehicles.