There’s nothing more exciting than shopping for a new car. With new cars you can customize everything right down to the colour of the upholstery. It’s easy to get swept up in the enjoyment of a new car and forget about ongoing costs of operating your vehicle. There’s the fuel, maintenance, tires, licence, registration and of course, insurance.

Car insurance can add up to a third of a new car’s purchase cost with just the first year’s premiums. Whether you’re buying a new or used vehicle, car insurance matters. The last thing you want is to drive off the car lot, only to find out the car insurance premiums are very costly.

If you’re like most motorists, you’ve narrowed your new car list down to three to five models. Before test driving the vehicles and falling in love, you should get car insurance quotes for each model. By making car insurance part of your new car decision, it will give you a clearer idea about the total cost of ownership. There’s nothing worse than driving off the lot, only to find out the car insurance premiums are going to break your budget. On top of that, insurance companies have their own vehicle rating, so it’s a good see the total insurance cost.

Even if you’re looking for vehicles in the same class and price range, you may still see differences in car insurance premiums. Don’t make the mistake of only shopping with your current car insurance company. Car insurance websites like Shop Insurance Canada make it easier than ever to compare car insurance rates and find cheap car insurance quote Ontario.

The Cheapest and Most Expensive Cars to Insure

Wheels.ca came out with a list of the cheapest and most expensive cars in insure. If a car is more likely to be stolen or involved in a collision, you better believe your insurance rates will be higher. Before you consider driving off the lost, see if the model you’re considering appears on this list.

Vehicles with the highest comprehensive claim costs:

2006 Hummer H2

2009 Toyota Highlander 4WD

2008 Audi Q7 AWD

2009 Toyota Venza AWD

2006 Subaru Impreza WRX & WRX STi

Vehicles with the lowest comprehensive claim costs:

1998 Ford Escort

1998 Chevrolet Metro Sedan

1998 Buick Skylark

1997 Chevrolet Cavalier Sedan

1998 Chevrolet Metro Hatchback

Factors That Impact Your Car Insurance Rates

A number of factors impact your car insurance rates. The make and model of your vehicle are just two of them. Car insurance rates also vary between individuals and companies. Here are some other factors:

• Where you drive: You’re more likely to be involved in a collision when driving in the city rather than the country.
• How often you drive: The more often you’re on the roads, the more likely you are to be involved in a collision.
• Your driving record: Is your driving record clean or have you been involved in a collision? Motorists who have blemishes on their driving record like accidents and tickets, generally pay higher car insurance rates.
• The amount of your deductible: The higher the deductible, the lower your car insurance rates and vice-versa. Just remember the deductible is the amount you’ll pay out of pocket in the event of a claim, so make sure you can truly afford it.

Sean Cooper is the bestselling author of the book, Burn Your Mortgage: The Simple, Powerful Path to Financial Freedom for Canadians, available now on Amazon and at Chapters, Indigo and major bookstores, and as an Audiobook on Amazon, Audible and iTunes.