Why buying a Small Low cost car might lead to a high New York Auto Insurance premium

Find out how buying the compact car with the low price tag might not get you all the saving you anticipated.

It is easy to assume that the smaller the car, the cheaper it will be to insure. Many parents make this assumption when outfitting their new drivers for the road and decide to purchase a relatively inexpensive, compact model for their 16 year-old to tool around town in. Your new driver will be able to get from here to there without putting too much of a dent in your wallet. It’s a perfect fit, right?

Not so fast! New York Auto Insurance wants you to know that this may not necessarily be the case. Everyone knows that insuring teen drivers is expensive. The risk of being in a car accident is twice as high for driver ages 16-19 than it is for any other age group. Are you ready for another shocking statistic? Annually, over 5,000 teenagers die in auto-related accidents. This makes selecting the proper vehicle all the more important not only for your wallet but more importantly for the well being of your child.

Before purchasing a vehicle for the new driver in your home, here are some things to consider.

• Carefully review the safety ratings of all the cars that you are considering. Small, compact cars and large SUV-type vehicles are generally not rated as highly as midsize models and therefore may increase your new york car insurance premium.

 

• Make sure that the model you decide to buy is equipped with necessary safety features like airbags, invisible head injury protection, head restraints, an antilock brake system, traction control, all-wheel drive and electronic stability control. All of these features will ensure that your child is as safe as possible and will also help to make your new york auto insurance premium more reasonable.

 

• Avoid flashy, sports cars that are made for speed and performance. Your young driver should be concentrating on gradually gaining experience on the road and not attempting to qualify for the Daytona 500. Most fatal crashes involving 16-20 year-olds are generally one-car accidents and are due to excessive speeds and poor driver judgment. Take this information into consideration when your teen is begging for the hot road over the Honda Accord.

 

Perhaps the most difficult job as parents is allowing your children to grow up and experience all that life has to offer. As you may remember, being 16 years old is all about getting your license and driving. Though you may not be able to make them wait to drive until they are 35, making sure they are in the safest vehicle possible will certainly save you money and ultimately may save their lives.