What Should I Do to Get Insurance for My New Car?

Family's New Car

Buying a new car can be exciting, with so many decisions to make -- where to buy, what color to get, which make and model, etc. One of the most important decisions, however, is what insurance you are going to buy for the new vehicle. Read on for some considerations as you shop for your dream car.

Get a Quote... Before You Buy

You may want to pick out the car first and worry about insurance later, but it can be helpful to look at quotes as you shop for your new vehicle. Different types of cars have different premiums. For example, if you are torn between a small coupe and a mid-size crossover, you may see that the quote for the crossover may be more cost-effective. Understanding what your insurance premium will be before you purchase your car will give you a better overall picture of the new car's cost.

Your premium could also increase if the car you purchase is a luxury vehicle or a sports car. These cars often cost more to repair. On the other hand, your premium could decrease if the car has a lot of safety features or is affordable and easy to repair. Your company could also offer discounts such as a multi-car discount, which would lower your premium if the new car is being added in addition to another.

You should also get quotes from several insurance companies. If putting this new car on your current insurance is going to increase your premium, you may be able to find a different company with a better rate. If you decide to switch insurance providers, check to make sure there will not be a lapse in coverage between your old policy ending and your new policy beginning.

Get Coverage Immediately

You will be required to provide proof of insurance before you drive your car home since it’s illegal to operate a car without it. That’s a big risk with bigger implications.

If you only have liability coverage on your current policy, you may have to take out collision and comprehensive coverage on your new car if you are getting a loan. This is a good idea even if you are not required, because the minimum coverage does not protect you or your vehicle.

If you are not sure what will be covered with your current policy, check your declarations page, the page near the front of your policy that lists all of your coverages. It is important to be familiar with this page and keep it up to date.

You must call your insurance agent as soon as you know what car you are going to buy. It is your responsibility to be sure that they know about all the cars on your policy. Your new car may not be covered if the insurance company was not aware of it, especially if you have had the car for a longer period of time.

Consider Gap Coverage

A vehicle’s value decreases as soon as you drive it off the sales lot and that’s where gap coverage can help. It covers the difference between your loan amount and the actual cash value, the value of your car before the accident if your car is totaled. This is something that can be very important if you are upside down on your loan, which means that your car is not worth as much as the money that you still owe. If your carrier does not provide gap coverage, you may need to look around for other options.

So, congratulations on your decision to buy a new car! Protect your investment with the right insurance. Call one of our friendly agents at 1-800-INFINITY to compare prices and options or visit our www.InfinityAuto.com to receive a free quote within minutes.

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