New Car Insurance Rate Comparison Calculator - Valley News Live - KVLY/KXJB - Fargo/Grand Forks

New Car Insurance Rate Comparison Calculator

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SOURCE insuranceQuotes.com

New tool shows considerable cost variability between different makes and models

SAN FRANCISCO, May 21, 2014 /PRNewswire/ -- insuranceQuotes.com has released a new car insurance rate comparison calculator that enables consumers to compare the insurance costs of different cars by year, make and model:


The tool ("Car vs. Car: Insurance Comparison Shopping Tool," in the right sidebar) is fully customizable by age, gender, marital status and zip code. For example:

  • If you're thinking of an entry-level luxury sedan over a standard mid-size sedan or SUV, prepare to pay a lot more for car insurance. A 2014 Audi A8 3.0T Quattro costs 66% more to insure than a 2014 Toyota Corolla LE Premium and a 2014 Mercedes C250 costs 23% more to insure than a 2014 Toyota Camry XLE.
  • Good news for growing families: it costs 7% less to insure a 2013 Honda Odyssey EX (a minivan) than a 2013 Nissan Altima 2.5 (a mid-size sedan).
  • Are you considering an environmentally-friendly vehicle? Trading in a 2010 Hyundai Sonata GLS for a 2014 Toyota Prius V Five would lead to 17% higher car insurance costs.
  • Upgrading to a vehicle with a more powerful engine can also lead to higher car insurance costs. For example, a 2014 Subaru Outback with a six-cylinder engine costs 14% more to insure than a 2014 Subaru Outback with a four-cylinder engine.
  • Insurance rates even differ among entry-level luxury cars. A 2013 Mercedes C250 costs 7% more to insure than a 2013 BMW 328i.

"One of the biggest mistakes consumers make when shopping for a new car is not considering the insurance costs," said Laura Adams, insuranceQuotes.com's senior analyst. "Nearly seven in 10 Americans say it is important to know insurance costs before buying a car, yet only three in 10 actually get an insurance quote before car shopping."

Sample insurance premiums are for a 40-year-old married woman living in Chicago (ZIP code 60640).

The consumer shopping habits statistics came from a survey conducted by Princeton Survey Research Associates International. PSRAI obtained telephone interviews with a nationally representative sample of 1,010 adults living in the continental United States. Interviews were conducted by landline (510) and cell phone (500, including 280 without a landline phone) in English and Spanish by Princeton Data Source from April 3-6, 2014. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.5 percentage points.

About insuranceQuotes.com:

insuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.

For more information, visit http://www.insuranceQuotes.com, follow us on Twitter (https://twitter.com/InsuranceQts) or like us on Facebook (https://www.facebook.com/InsuranceQts).

insuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance companies include NetQuote.com and InsureMe.com.

For More Information:

Caroline Farhat
Publicist, Bankrate, Inc.
(917) 368-8638

©2012 PR Newswire. All Rights Reserved.

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