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How Your Vehicle Choice Affects Auto Insurance in Newfoundland

By January 17, 2025Auto Insurance
Close-up view of a row of brightly coloured cars in a dealership showroom, illustrating vehicle variety and choices for auto insurance considerations in Newfoundland.
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When shopping for a new vehicle in Newfoundland, many drivers focus on style, comfort, and performance. However, your vehicle choice can affect your auto insurance premiums in Newfoundland. Here’s how the make, model, and other factors influence what you pay—and tips to help you make an informed decision.

1. Vehicle Value

High-end cars come with high-end repair and replacement costs. If you choose a luxury or sports car, expect higher insurance premiums. On the other hand, affordable and reliable models like sedans or compact SUVs often cost less to insure.

2. Safety Features

Vehicles equipped with advanced safety technology, such as collision avoidance systems, airbags, and anti-theft devices, can lower your insurance costs. Insurers reward safer vehicles that reduce the likelihood of accidents or theft.

3. Repair Costs

Exotic or imported vehicles may require specialized parts or services, leading to higher repair bills. This drives up your insurance rates. In contrast, cars with readily available, cost-effective parts are cheaper to insure.

4. Vehicle Age

Newer cars typically cost more to insure because of their higher market value. However, some newer models with state-of-the-art safety features can balance out these costs. Older cars may cost less to insure but could lack essential safety updates.

5. Purpose and Usage

A car primarily used for personal errands or commuting may have lower premiums than one used for business purposes or extensive travel. Insurers also consider the average mileage of your vehicle when determining rates.

Tips for Choosing a Vehicle to Save on Insurance in Newfoundland:

  • Research Before You Buy: Check the insurance costs for different models to avoid surprises.
  • Opt for Safety Features: Vehicles with top-tier safety technology can offer long-term savings.
  • Avoid High-Performance Cars: If keeping your auto insurance premium down is important to you, sports cars may be thrilling but have steeper premiums.

Choosing the right car is about more than just looks or performance. By considering how your vehicle choice affects auto insurance in Newfoundland, you can save on premiums and drive with peace of mind.

Need personalized advice? At Wedgwood Insurance, our team can help you navigate your options and find the coverage that suits your vehicle and lifestyle. Contact us today!

About Wedgwood Insurance

Wedgwood Insurance has offices in St. John’s & Corner Brook and is Newfoundland & Labrador’s largest independent insurance broker. We provide straightforward home, auto & business insurance advice.

With over 280 Google My Business reviews, experience the Wedgwood difference with expert advice from our dedicated team. We ensure that every client has the coverage that best suits their needs through upfront complimentary consultations and midterm reviews.

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Author Jamie Ross

Jamie Ross leads the Marketing and Communications team at Wedgwood Insurance, renowned as one of Atlantic Canada’s premier independent insurance brokers. Bringing a wealth of experience amassed over many years at some of Canada's most esteemed advertising agencies, Jamie transitioned to the insurance industry in 2017. This pivotal move has marked a period of significant professional growth and contribution to the field. A native Nova Scotian, Jamie has been a resident of St. John's, NL, since 2011, where he has become an integral part of the local community. Learn more about Jamie.

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