Not only is your vehicle probably among your most expensive possessions, but you likely depend heavily on it in your day-to-day life.
Without a robust auto insurance policy, you may be at risk of financial hardship in the event of a collision.
An insurance policy that provides your Fiat with adequate liability, collision, and comprehensive coverage is essential for protecting one of your most important assets.
The cost of auto insurance is affected by a wide array of factors, including your gender, where you live, how far your work commute is, your driving record, and whether you rent or own your primary residence.
Another chief factor that influences your insurance premium is the make and model of your vehicle.
To better understand how the cost of your insurance is calculated, it’s necessary to consider your insurance provider’s opinions about the risks associated with insuring your particular vehicle.
How Much Does Fiat Insurance Cost?
As you gather quotes for Fiat insurance, it’s important to consider certain elements.
The amount of insurance coverage required in your state and how much you actually need are two things to keep in mind.
Another determining factor is whether a traditional policy is suitable or if specialty insurance for a vintage or collectible car would be better for your needs.
Safety features, crash test results, and potential to cause damage vary widely across different Fiat models, and your premium may be higher or lower than average depending on your vehicle’s specifications.
Below you’ll find a breakdown of the different items that affect your insurance premium.
Fiat Safety Rating and Damage Threshold
Today’s vehicles are designed to absorb impact and crumple in a specific way that protects the drivers and passengers in the event of a collision.
The more effectively a vehicle absorbs impact, the safer it is for passengers and the less likely it will be for an insurance company to spend a large sum of money on medical expenses.
The base model Fiat 2017 500 received a “good” score in most crash tests, including the moderate overlap frontal test, side-impact, roof strength, and head restraints and seat test, although it received a “poor” score for the driver-side small overlap frontal test.
The Fiat 2018 500X SUV received “good” ratings in all crashworthiness tests. Because these vehicles perform well in collisions, they may cost less to insure.
Fiat Comprehensive and Collision Coverage
In the event of an accident that results in your vehicle being totaled, your auto insurance provider would pay you the cash value of your vehicle, minus your deductible.
For that reason, the total value of your vehicle directly affects how much you pay for collision and comprehensive coverage.
The more expensive the vehicle, the higher your premium is likely to be. A new 2018 124 Spider Abarth, for example, retails for about $28,000.
A used 2013 500 two-door hatchback, on the other hand, is valued at a more modest $6,000.
Because there is such a range in price among different years and models, it’s important to get a quote based on your own vehicle.
Fiat Claims Frequency and Potential to Cause Damage
Some vehicles are statistically more likely to be involved in an accident or are more likely to cause extensive damage to another vehicle.
These factors can drive up the cost of insurance coverage, as your premium is based on how much your auto insurance provider may have to pay out on your behalf.
Insurance companies consider the overall losses of Fiat vehicles and the costs of paying claims to determine premium rates.
For collision claims, the costs for the Fiat 500 were “better than average,” and the costs for the 500 convertible and 500 electric models were “substantially better than average.”
Fiat Insurance Discounts
Safety features not only keep you safer when you’re on the road, but they can also bring down the cost of your insurance premium.
Many auto insurance companies provide discounts for vehicles that have safety equipment.
Fiat offers many standard safety features such as airbags and anti-lock brakes, and more advanced safety features, including:
- Electric Parking Brake
- Traffic Sign Recognition
- Speed Advisor
- Lane Assist
Not all Fiat vehicles are equipped with these features, so it’s important to let your insurance agent know which safety features your vehicle has.
Who are the Best Companies for Fiat Insurance?
As you’re researching the best insurance for your vehicle, whether you own a Fiat or another make, it’s important to shop around, read reviews, and obtain at least three custom quotes from different companies.
Shopping around can not only save you money, but it can also make sure that you receive the level of service you expect.
Aside from the cost of coverage, you should consider factors such as:
- Overall customer satisfaction
- The claims reporting process
- The company’s financial stability
- The company’s justified complaint ratio
If you own a classic or vintage Fiat, you may need to purchase specialty insurance.
Because not all providers sell this type of insurance, you may be limited in the number of insurers from which to choose.
As you’re shopping for Fiat insurance, be sure to have important information on hand, such as your vehicle’s year, make, model, mileage, its trim package, and details about any of its safety features.
You should also ask about available discounts in the good driver, low mileage, multi-policy, and multi-vehicle categories.
What to Know About Fiat
Fiat is an Italian automobile manufacturer that has a presence in Europe, North America, South America, Australia, Asia, and Africa.
The first Fiat automobile was manufactured in 1900 when an Italian entrepreneur named Giovanni Agnelli opened a factory in Turin, Italy.
This tiny automaker employed just 150 people, but it quickly grew to become one of Europe’s top-selling automobile brands.
After World War II, Fiat was introduced to the U.S. market, where it became popular among young drivers.
In the 1980s, Fiat left the American market, but it returned in 2011 with the Fiat 500.
The company has won numerous awards, including the European Car of the Year award nine times over the past 40 years.
Now that you know what to expect as you’re shopping for Fiat insurance, you should have no problem finding a policy that meets your needs and your budget.
*While we make every effort to keep our site updated, please be aware that “timely” information on this page, such as quote estimates, or pertinent details about companies, may only be accurate as of its last edit day. Huntley Wealth & Insurance Services and its representatives do not give legal or tax advice. Please consult your own legal or tax adviser.