New Car Insurance
Buying a new car is an exciting time. However, it is a complicated process with many decisions to make. Deciding what type of vehicle you want, the make and model, the options, and then comparing and negotiating prices can leave you feeling pretty drained. Nonetheless, you would be remiss to not also take this opportunity to review your insurance needs and rates for your new vehicle. By getting a quote through BestCarInsuranceCompanies.net, you could start saving hundreds of dollars on your car insurance today, making that new car payment seem much more manageable.
Get Insurance Before Your Vehicle Purchase
If this is your first car and you do not already have car insurance, you will need to get it before you drive the car off the lot. Insurance in most states is the law and the last thing you want to do is have a car worth tens of thousands of dollars and be uninsured. If you are financing a vehicle, as most drivers do, your lender will likely require you to have insurance at the time of purchase.
Insurance Transfer Window
If you already have auto insurance and are replacing a vehicle, you generally have between fourteen and thirty days to notify your insurance company of your new vehicle purchase. Once you notify your insurance company within the prescribed window, they will adjust your rate based on your new vehicle make and model. Rates for comprehensive and collision coverage are typically most affected by a new vehicle purchase but some vehicles may also affect your liability coverage rate. Be sure to review your policy to see how much time you have to notify your company of your new vehicle purchase. Use BestCarInsuranceCompanies.net to get your best quote for your new vehicle.
Other New Car Insurance Considerations
New vehicles can lose thousands of dollars in value as soon as they are driven off the dealer lot. Since most drivers finance their vehicles and many make just a small down payment, drivers need to ensure that they are financially protected in the event their vehicle is stolen or severely damaged. If your vehicle is severely damaged or stolen, the insurance company will pay you the market value based on an evaluation. This amount could be very different than the amount you owe for your vehicle. For example, if you owe $23,000 on a vehicle, but the insurance company determines the value of your total loss vehicle to be $19,000, you will be $4,000 short of covering your loan amount. By purchasing “gap” coverage, drivers can help alleviate any concerns for these situations. BestCarInsuranceCompanies.net offers gap insurance coverage from some of the most reputable companies in the business. Enter your zip code above for a free quote to get started saving today.