The news media would have you believe that gas guzzlers are ‘out’ and tiny hybrids are ‘in,’ and it would stand to reason that Florida auto insurance premiums should plummet as a result. At least, that’s what plenty of eco-conscious consumers would have you believe. However, before you head to the car lot to pick the tiniest, most fuel efficient vehicle available, read this article. The size and efficiency of a car does not necessarily indicate cost savings – nor does it automatically lead to life saving.
This holds true because:
- There’s a reason the saying That car is built like a tank applies to mammoth vehicles. A smaller, lighter car is likely to offer less protection to those within – and that means more potential damage in a crash situation. It’s simply an issue of weight and inertia. The more steel surrounding passengers, the heavier the vehicle will be.
- Sure, it takes less gas to power that hybrid vehicle. That’s a win for the environment, no question. Just don’t expect your bank account to necessarily reflect your altruism. Smaller cars are more likely to require higher premiums, and that can outweigh any savings you may enjoy in gasoline costs. Why the higher premium? Reference the first bullet point. Small cars are not often built like tanks. They crumble more readily in many crash situations. Anyone who has witnessed a fender-bender involving a small car versus a large one can attest to this.
- Money-wise, that tiny car may not help on the insurance savings side. Your driving record and insurance score have a significant effect on your premium. Safe driver? Holder of good credit? There’s a great likelihood your premium will reflect these above and beyond the actual type of car you choose, though one widely known to be safe won’t hurt the cause.
- The meaning of ‘saving’ is twofold. Save money – and save yourself and your passengers from injury. Regardless of the type of vehicle you choose to drive, check the safety rating of the vehicle before you sign on the dotted line. It’s wonderful to save the Earth and the money you’ve worked hard to collect. It’s even more important to save those whom you transport on four wheels.
It’s common for consumers to just visit a dealership and choose an automobile at the right price that looks safe and snazzy. Resist the temptation. Go ahead and take a step back in the car purchasing process and inquire about auto insurance. An experienced advisor at W3 Insurance will help you factor the cost of Florida auto insurance into your overall budget, giving you a clearer picture whether that vehicle is right for you.
For those small car aficionados out there: Do your research and find peace of mind before the purchase. Select a vehicle with high-rated safety capabilities. A recent article featured in the U.S. News and World Report highlights some of the best small cars in terms of safety.