Saab recently declared bankruptcy and went out of business, but a number of Saabs will be on the roads and the used car market for a long time to come. Will Saab's going out of business impact your insurance rates?
Luxury, refinement and superb safety features are just a few of the qualities you expect to find in a Saab. Headquartered in Sweden, Saab was active in more than sixty countries around the globe. Popular in the United States and the United Kingdom, they are also commonly seen throughout The Netherlands, Norway, Australia, France, Italy, Australia, Germany and Sweden.
Saabs are pure imports in the United States. Made overseas and shipped in, replacement parts are also made overseas. Repairing a Saab after an accident is an expensive proposition, one that your insurance company is not looking forward to especially now that Saabs are no longer being manufactured. Expect the insurance premiums to be higher as a result.
Saabs are defined as sports cars, even though most of them have back seats. They beg to be driven and pushed to the limits. While this might feel great on the open road, it’s a little fact that drives the insurance premiums higher. Not all Saabs are sports cars, and you can get a lower rate by choosing one that’s designed more for the family. Of course, that might pull all the fun out of it for you. If you want the sport models you should simply be prepared to pay a little more on the insurance premium.
This is one factor than can help bring Saab back into a more reasonable price bracket where insurance is concerned. Saabs are consistently rated number one in both front and side impact tests. Made with metal, not plastic parts, Saab designed its cars to keep the driver and occupants safe. The cars also feature anti-lock brakes and traction control for increased braking control and turning stability. These features help keep the insurance a little lower while also providing you with peace of mind, knowing that you are protected.
The Saab is also a luxury auto. Built with high quality materials, featuring leather trim and a higher price tag, Saab cars represent a greater liability to the insurance companies. With many cars costing nearly $50,000 to purchase, the insurance provider will help offset their potential liability by hitting you with a higher premium.
All in all, Saabs are excellent cars that are surprisingly affordable to insure. While some Saabs have very normal insurance rates of around $100 a month, others will run you up to $130 a month for the insurance protection. However, this additional fee may be well worth it to you if you have been fantasizing about screaming down the highway in a car that is responsive, well-built and just waiting to be driven