If you’re in the market for a new vehicle, you’re likely looking for something that offers an abundance of safety features. While this is perfectly understandable, those high-tech features could make managing car insurance expenses that much more difficult. Learn how to strike a balance between saving money each month on coverage and staying safe behind the wheel.
Proven Safety Features
Standard safety features like seatbelts and antilock brakes that have been around for a while have been proven to be effective in reducing crashes, which means they help prevent the need for insurance holders to file claims. On the other hand, with some of the newer safety features, like touchscreen controls and blind spot monitoring, most insurance companies are not confident in adding them to their rating engines. This means that even if you have new features on your car intended to keep you safe while behind the wheel, your insurance provider might not automatically include them with any discount you might receive.
More Expensive to Replace
Something else to think about is the fact that high-tech auto safety features can sometimes be expensive to replace as well as service, which is why they can drive up the overall cost of your insurance. Rather than sacrifice safety for lower insurance premiums, you’re much better off focusing on the most essential safety features and looking for models that have them. If there’s a safety feature you can do without, don’t get a vehicle that has it. This is because the more features a vehicle has, the most expensive it usually is to insure it.
Additional Cost to Auto Repair Shops
Taking a deeper look at why advanced safety features are more expensive to insure, look at the situation from a repair shop’s point of view. With some models, shops have to purchase expensive, manufacturer-specific devices to carry out tasks such as programming the tire pressure monitoring system. Shops might also have to stock up on special tools for cameras, computers and safety devices, the cost of which can steadily climb as the years go on. Making matters more difficult is the fact that there might be repairs that have to be handled by a dealership rather than an auto repair company, adding to the cost as well as the time it takes to restore the vehicle.
It’s always in your best bet to factor in the cost of insurance while deciding how much cost you can afford. Put these tips to good use, and speak with your current insurance provider to see how much you can expect to spend on future coverage.