Why Car Insurance Rates Are Higher For The Newest Car Models

LOS ANGELES, Feb. 19, 2019 /PRNewswire-PRWeb/ -- Carinsuranceplan.org has launched a new blog post that explains why car owners pay more on car insurance if they bought a new car model.

When new car owners try to insure their vehicles, they might have an unpleasant surprise when they found out that the cost to insure them is high. Most insurance companies raise the price to insure a new car model for these reasons:

    --  Newer car models are costly to repair. Sophisticated safety devices like
        adaptive cruise control, lane monitoring, blind-spot monitoring, and
        others increase the price of a vehicle. These devices are expensive to
        repair or replace if they are damaged. The price of the policies can
        increase even more if the vehicle comes equipped with ventilated and
        massaging seats, heated steering wheel, or head-up displays. Also, the
        price of the new materials from which the new vehicles are produced is
        pretty high. Materials like new aluminum alloys, carbon fiber reinforced
        polymer, and new steel types are expensive to produce.
    --  Thieves prefer to steal new car models. Depending on the number of
        claims made for stolen new car models, insurance companies can choose to
        increase the price of insurance for a particular model.
    --  Some new car models are not as safe as older models. The Insurance
        Institute for Highway Safety (IIHS) has found out that many new vehicles
        are less resistant and don't withstand low-impact collisions that well.
    --  Additional coverage. New car owners are recommended to purchases
        comprehensive and collision insurance to be better protected. One
        additional policy that is recommended to purchase is the new car
        replacement coverage. This coverage will reimburse the policyholder the
        value of a new car if their vehicle gets totaled in an accident. All of
        these additional coverages will significantly increase the price of
        insurance.

For additional info, money-saving tips and free car insurance quotes, visit https://carinsuranceplan.org/

Carinsuranceplan.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.

SOURCE Carinsuranceplan.org