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My expensive new car added almost nothing to my auto insurance bill. This is why

My expensive new car added almost nothing to my auto insurance bill.  This is why

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Choosing the right vehicle can mean cheaper insurance.


Most important points:

  • I recently bought an expensive new car, so I expected my auto insurance rates to go up.
  • They didn’t increase at all because I did my research carefully when I shopped for the car.
  • I also got quotes for insurance in advance so I knew how much my insurance would cost.

A few months ago I bought a very expensive new car because I needed a bigger car for my family. I had some specific requirements for the car in terms of safety features and dimensions, so I wasn’t able to buy a used car like I usually do. And my new car ended up costing three times as much as my old one, just because it was a big vehicle with a lot of technology.

When I bought this new car, I paid for it in cash instead of taking out a car loan. And it was very important to me to make sure my auto insurance premiums didn’t skyrocket. Since insurers set premiums based on risk, in theory a more expensive car could have meant my costs would rise dramatically. But that didn’t happen for one simple reason.

Here’s Why My Auto Insurance Costs Didn’t Go Up With An Expensive New Car

The big reason my auto insurance costs didn’t increase much when I bought my expensive new car is because I did my research carefully and specifically chose a car that wouldn’t incur huge costs.

Look, while my vehicle would require a more expensive insurance claim if an accident were to happen, some of the safety features it includes reduce both the likelihood that a crash will occur and the likelihood of serious injury if a collision occurs. These were the exact same features that led me to buy the car in the first place, despite the cost – I wanted to be able to keep my kids safe while driving to activities or taking family outings.

I know that insurance companies keep records of claims for different types of vehicles and it is possible to check insurance prices for different cars before buying them. So just to make sure my insurance costs didn’t go up much — and to confirm that I bought a car that won’t result in a lot of expensive insurance claims — I just got some quotes for insuring several of the different types of cars I’m in. was interested.

Once I had a list of a few vehicles, I got quotes from different insurers for the different cars I was considering buying. This allowed me to select the car with the lowest car insurance premium.

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How to Avoid Unexpected Auto Insurance Costs?

Buying a new car can be a big decision, especially for drivers who commit to car payments to make the purchase. It is always important to make sure that the total cost of ownership stays within your budget, even when insurance premiums are taken into account.

That’s why it’s a good idea to research the cost of car insurance before make a purchase. Insurers allow drivers to get quotes for cars, even if they don’t already own them, so drivers can enter the details about which vehicles they may want to buy. By doing this before making a purchase, motorists can find out which cars are the cheapest so they can avoid any unpleasant surprises.

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