How Much is Insurance for Used Cars in Utah?

The words “bargain” and “insurance” really should not be used together, in particular when you are looking for the best car insurance rates for used cars. Because of the high cost, let’s get started by showing you a few of the factors that influence insurance premiums, and find out if you can cut the cost of the next policy you buy.

Buying affordable car insurance is difficult, and deciding which company offers the best auto insurance rates for used cars will take even more shopping around.

Every car insurance company uses slightly different criteria for setting prices, so to begin we’ll rank the most affordable auto insurance companies in Utah. We do need to point out that Utah auto insurance rates are determined by lots of factors that control the policy price. Things like getting older, buying a higher-value vehicle, or having a fender bender may cause policy rate changes that can cause some rates to be much higher than others.

Cheap Insurance Rates for Used Cars

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Bear River generally has some of the most affordable car insurance rates in Utah at around $590 per year. USAA, Auto-Owners, American Family, and Farm Bureau Mutual also make the cut as some of the cheapest Utah insurance companies.

As shown in the rates above, if you currently buy coverage from Auto-Owners and switched to Bear River, you might achieve an annual savings of in the vicinity of $304. Utah drivers with American Family might save as much as $374 a year, and Farm Bureau Mutual customers might reduce rates by $436 a year.

Remember that these policy prices are averages for all types of drivers and the different vehicles they drive and do not take into consideration a rate decrease for used cars. So the company that fits your age and vehicle best may not even be featured in the above rate chart. That point stresses why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

The vehicle model requiring coverage is probably the most important factor that determines the availablility of cheap insurance for used cars in Utah. Vehicles with lower performance, good safety features, or a low likelihood of liability claims will cost quite a bit less to insure than fast, unsafe models.

The information below shows insurance premiums for a number of the most economical automobiles to buy coverage for.

Above prices assume married male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Utah minimum liability limits. Discounts applied include claim-free, multi-policy, multi-vehicle, safe-driver, and homeowner. Information does not factor in specific zip code location which can increase or decrease premiums greatly.

Based upon the rates shown, you can presume that cars like the Honda CR-V, Honda Accord, Ford Escape, and Kia Forte are most likely going to be the most economical vehicles to insure for pre-owned vehicles.

When buying auto insurance for pre-owned vehicles, one of the key things that is looked at to determine the price of your policy is your address in Utah. More densely populated places like Murray, Salt Lake City, and Kearns are more likely to have higher rates, whereas areas with lower crime rates and fewer weather claims have the luxury of lower rates.

The following table illustrates the more expensive cities in Utah for used cars to buy car insurance in.

Table data uses comparative as the specific Utah residence address can influence auto insurance rates considerably.

Cautious Utah drivers save money

The easiest way to score the best auto insurance prices in Utah for pre-owned vehicles is to drive safely and avoid accidents and traffic violations. The chart below illustrates how traffic citations and at-fault claims can affect auto insurance costs for different ages of insureds. The premiums assume a married male driver, full physical damage coverage, $100 deductibles, and no discounts are taken into consideration.

google.charts.setOnLoadCallback(drawVioqcibChart);function drawVioqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘No Violations or Accidents’, ‘One Speeding Ticket and No Accidents’, ‘One Speeding Ticket and Two Accidents’],[‘Age 20’, 2275,2469,4091],[‘Age 30’, 1201,1393,3017],[‘Age 40’, 1151,1343,2971],[‘Age 50’, 1055,1247,2871],[‘Age 60’, 1035,1229,2851],[‘Age 70’, 1187,1377,3005]]);var options = {title: ‘Impact of Citations and Accidents on Utah Auto Insurance Prices’,titleTextStyle: {color: ‘#333’, fontSize: 17, bold: true},width: ‘100%’,height: 600,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},colors:[‘#b2da64′,’#eed355′,’#e39e71’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Utah’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);var chart = new google.visualization.BarChart(document.getElementById(‘qcibvio’));chart.draw(data, options);}

In the previous example, the average cost of a car insurance policy in Utah per year with no accidents and a clean driving record is $1,317. Receive one speeding ticket and the average cost hikes up to $1,510, an increase of $192 each year. Then throw in two accidents along with the one speeding ticket and the yearly cost of auto insurance for used cars goes up to an average of $3,134. That’s an increase of $1,817, or $151 per month, just for being a little careless behind the wheel!

Cost comparison with and without full coverage

Finding cheap insurance for used cars in Utah is important to most vehicle owners, and an effective way to reduce the cost of insurance is to not buy full coverage. The diagram below shows the comparison of auto insurance costs when comparing full coverage to liability only. The rates are based on no violations or claims, $1,000 deductibles, single marital status, and no discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 1911,817],[‘Age 30’, 1015,453],[‘Age 40’, 985,419],[‘Age 50’, 903,393],[‘Age 60’, 877,387],[‘Age 70’, 1091,515]]);var options = {title: ‘Full Coverage Compared to Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Utah’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an average, comp and collision coverage costs $1,130 per year over and above liability coverage. That is a large expense which might make you wonder when is the right time to remove full coverage. There is no written rule for excluding comp and collision coverage, but there is a general guideline. If the yearly cost of full coverage is more than 10% of the settlement you would receive from your company, then it might be time to buy liability only.

For example, let’s pretend your vehicle’s claim settlement value is $3,000 and you have $1,000 policy deductibles. If your vehicle is totaled, the most your company will settle for is $2,000 after paying the physical damage deductible. If it’s costing you more than $200 annually for full coverage, then you might want to consider buying only liability coverage.