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Insurance Article

How Affordable is Car Insurance

April 21 2012

Do you actually know the real meaning of the affordable car or auto insurance? The term affordable car insurance is a misnomer actually. You will find several different types of auto insurance policies listed on the internet, and either one or the other insurance policy turns out to be affordable one.

In fact, if we take on general discussion, then a car insurance policy which is is expensive for a car owner having lower car model, will seem affordable for the car owner having a higher version of the car model. The affordability factor of auto insurance varies significantly from one car model to another. Now, if we talk about the car model which belongs to luxury class, or sports utility genre, the auto insurance will be expensive.

Seen from the perspective of the lower model car owner the insurance will always seem to be the expensive one as he/she moves up the ladder. On the contrary, for the owners of top notch luxury car models, the auto insurance will always be affordable. For the luxury car owner, it will not hurt his/her pocket if he/she is paying few thousands of rupees in the auto insurance. But from the perspective of low end car model, the auto insurance will always eat up his/her pocket.

Car insurance is a broader term and it has different connotations for different policy holders. But what lies beneath is the very essential fact and question – Is the car or auto insurance really affordable one? What are the primary factors which actually make auto insurance more expensive for the car owner.

Besides the making and model of the car, age is one of the key factors which plays decisive role making auto insurance expensive or not expensive for the car owner. Supposing, the car owner is young lad of 21 years of age, the auto insurance company will be happy to offer the insurance at low premium rates. Similarly, if the car owner is old brook of 60 years the premium for the car insurance will turn out to be an expensive one.

Affordability of auto insurance will also depend whether the car is new or old. Old cars have low insurance premiums and therefore, the total insurance cost comes out to be extremely low. Similarly for the new model cars, the auto insurance premiums will be very high. In this situation the insurance cost will be seemingly high.

In case, you are below the eligible age of driving, the auto insurance company will think twice before offering you the insurance.

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