Cars that make auto insurance rates ‘affordable’ So you’ve decided now is the time to invest in a new set of wheels. You’ve finally saved enough money for the down payment and are ready to take a loan to cover the rest. Since for most people, their car will be one of the most expensive assets they’re ever going to own, it’s important to look at the expenses of your car from a long term perspective. “It’s probably easier to know about the maintenance costs of a car but knowing about its auto insurance rate is not so easy”, you say. Agreed! Different companies will give different estimates of the auto insurance rate for the same model because so many other factors unique to you are also in play. After extensive actuarial analysis, insurance companies compile a list of the car models with highest and lowest auto insurance rates. This study is based on safety features in a car, how often it gets damaged in an accident, gets stolen, and costs to repair or replace. It’s a smart idea to check the average auto insurance rate of the car you plan to buy before you actually put down the money for it, so that you are financially prepared to bear its long term on road costs as well. The function of the IIHS- Highway Loss Data Institute is to study the cost to insurance companies arising from claims related to collision, injury and theft. This study in turn influences the average auto insurance rate for the car models analyzed. Apparently 4 door cars have a much lower chance of being involved in a theft than their 2 door counterparts. Now you know why 2 doors cost more to insure! The IIHS-HDLI also studies the safety ratings of cars by analyzing the losses in actual accidents that these cars were involved in. Among the large cars the Buick Lacrosse and BMW 5 series have come out as the safest cars for their passengers, while the Chevrolet Cruze and Honda Civic are the safety toppers among the smaller cars. The Audi A3 and A4 sedan top the safety ratings among the mid-sized cars. Their auto insurance rates are naturally bound to be lower. While working out the average auto insurance rate for each of the cars, super- luxurious ones like Bentleys or Lamborghinis are usually not taken into account as their price tag alone ensures they’ll have high auto insurance rates. Who said luxury comes cheap? Here’s a complete list of cars with the highest and lowest auto insurance rates: http://www.forbes.com/2010/08/19/car-auto-insurance-lifestyle-vehicles-most- least-expensive_slide_3.html If you are looking for affordable auto insurance rates, the Mercedes-Benz G55 AMG ($3,086.49), or the Aston Martin DB9 Volante ($3,088.96) or the Porsche 911 Carrera S ($3,092.31) are high end cars that are bound to disappoint you. On the other hand, Mazda Tribute ($1070.25) and Honda Odyssey ($1095.26) are among the least expensive cars to insure. Others include the Toyota Highlander ($1,154.02), Ford Escape ($1,150.26) or the Toyota Sienna ($1,142.94) While it’s easy to get carried away with all the glitz and glamour of different car models on offer in the market, it’s important to get an estimate of their on- road costs as this is something you will have to live with for a long time. Most auto insurance companies have free quote calculators on their websites which can quickly churn out an auto insurance quote for you. If you cannot make up your mind between models, taking a quote for each of them might help you decide which one would be more affordable in the long term.