So you've either just spent a ton of money on a luxury vehicle or you're just about to take the plunge. Well, the good news is that insurance doesn't have to cost as much as you think. If you careful about it, you might even end up paying less for your luxury car than Joe Schmoe does for his Kia.
Quick Tips to Save you Money
- Join an owners club to get exclusive offers with low rates. People with cars like the one you're driving can often get special members-only offer from auto insurance companies.
- Pay the big costs up front to save down the line. This includes buying all the safety and antitheft options. Add airbags, automatic seatbelts, antilock breaks, alarm systems, or whatever you can think of. Remember, you never have to pay a cent for a LoJack after you buy it, but you'll be paying the insurance on the car for a long, long time.
- Only pay for what you use. This tip covers a few different points:
- If you are only going to use the car sparingly, for cruising on the weekend or what have you, consider buying pay-as-you-drive, or “usage-based”, insurance. This alternative to conventional car insurance bases your rate off of the odometer to save you a great deal of money. Even if you don't want this, see if you can get a low milage discount!
- Examine your policy very carefully and make sure you aren't paying for things you don't need. For instance, if you have great health insurance, you don't need your car insurance to cover your injuries in an accident.
- Color matters. Sometimes. While the idea that red cars are more expensive to insure is only true in some cases, certain colors might be more expensive than others depending on the make and model. Spend some time researching this and it could pay off.
The Best Deals of 2010
If you haven't bought your luxury car or are in the market for another one, you can save a lot of money in the long run by giving preference to the ones that will get you the lowest car insurance quotes. Check car quotes online for the vehicles that interest you.
You can spend hours talking to agents without really finding out that much. They are trying to get your signature for top dollar. Get to know the market so that you'll know when you're being ripped off; so, compare lots of cars, companies, and quotes.
The cheapest cars to insure are usually the safest ones. This year, the best buys are:
- Volvo XC90 – Volvo spared nothing in making this comfortable, safe, and attractive SUV. They also happened to make it well enough that it isn't much of a risk to insurers. It's a safe bet for your family and bank account.
- BMW 3-Series Wagon – Car and Driver picked the 3-Series Wagon as one of the ten best cars in 2010. If you can stand its overly complicated interface, and if you're a fan of luxury wagons, this is a great car.
- Land Rover LR3 – This Rover sacrifices neither luxury nor function. It is a great family car, off-road vehicle, and will more than impress friends, clients, and coworkers.
No matter what else you do, shopping online for car insurance quotes is the easiest and most efficient way to save oodles of cash on your car insurance.