How to Calculate Insurance on New Cars

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Insurance on new cars is calculated after taking a variety of different factors into consideration. Calculate insurance on new cars with help from an independent insurance agent and small business owner in this free video clip.

Part of the Video Series: Auto Insurance
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Video Transcript

This is Melissa Morley with All Seasons Insurance. Today, we're talking about how you can best calculate the insurance premium on the new car that you're looking to buy. When you go out to buy a new car, if you've done a little bit of homework first, that's always going to go in your favor; many people actually choose new cars based on how much the insurance will be for them. Your insurance agent or broker can give you a ballpark figure and stir you towards cars that are going to cost you less insurance. Insurance in part in based upon of car insurance companies' loss history with that vehicle. Today, there are many hybrid vehicles on the market, they can cost you more on insurance because they are so much more expensive. To effects, sometimes if you get in an accident with the hybrid, they will be totaled immediately due to the batteries and the other systems that they built into them. On the other hand, sometimes those cars are the same price to insure. So, contact your agent, give them a list of cars that you're interested in and go out and form. When you have picked out your car before you sign the papers, call the agent or broker back. Give them the VIN numbers and they'll be able to better tell you how much that premium will be. The higher your deductibles or excess insurance, the lower your premium will be. But, keep in mind that banks usually only allow you to go to about $500 deductibles for excess insurance. Then, sometimes with new cars, you're given towing for free. You don't need to include that on your policy. Sometimes roadside is included for the first three years. There's a few ways that you can save money by making sure that those are not on your policy when you're searching for your new car. Good luck, good shopping. This is Melissa Morley with All Seasons Insurance and today, we've discussed how to calculate insurance premiums on new cars.

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