Make sure you have the right coverages

If you’re getting ready to buy a new car, make sure you have comprehensive and collision. These are both optional coverages that pay for physical damage to your car. Typically, drivers leave these off for older cars. If you don’t have them now, your new car won’t. That means if it’s damaged, you’ll have to pay the full cost of your repairs.

Also, you’ll want to add your new vehicle to your policy as soon as you can.

How much is insurance for a new car?

Usually getting a new car will increase your rate because it will be worth more than your old car. The exact increase will vary greatly based on the year, make, and model of your vehicle, as well as your location, driving record, previous insurance, and credit history. But, you may be eligible for more discounts, such as new safety features. Discounts can be different in every state. Just get a quote online or call, and we’ll show you which discounts you qualify for.

New car insurance requirements

Financed vehicle

Comprehensive and collision coverage are usually required by the financer. Also, your state will require a minimum liability amount to pay for any damages you cause if you’re at fault in an accident.

Leased vehicle

Comprehensive and collision coverage are usually required by the leasing company, and it may set a maximum deductible—$1,000 for each is common. You’ll likely also need a higher liability amount, typically at $100,000 per person and $300,000 per accident. You may also want loan/lease payoff coverage, also known as gap insurance.

Owned vehicle (no lender/lienholder)

You only need what your state requires. But it’s highly recommended that you add comprehensive and collision (physical damage coverage for your car). If you don’t add these and you total your new car, you’ll get $0 from your insurer. No fun.

Don’t delay – call us today: 386-362-1818.