You just bought a brand new car. What concerning insurance?
We admit that buying insurance for your new car is not quite as exciting as buying the car itself, however it just may be your most important purchase. Why? Well, first of all, it’s typically needed either by your state, your lender, or both. more important, however, is that the financial protection auto insurance provides.
Auto insurance coverage options.
The type and amount of insurance everybody needs is unique. You possibly understand collision coverage, that pays for damage once you cause a collision with another vehicle or an object, and comprehensive coverage, which pays for repairs once your car is damaged by something you can’t control, sort of a fallen tree.
Other coverage options aren’t as well-known, however can be crucial once it involves protecting both your car and yourself.
You should purchase as much personal liability (PL) and uninsured driver (UM) coverage as you'll be able to, because each will shield you from having to pay large due repair and medical bills. And once you've got basic liability coverage, increasing your limits won’t cost you way more at all.
Don’t skimp on property damage (PD) coverage, either. It’s pricey to exchange a new vehicle, and if you're at fault during a crash, not having enough insurance will expose you to extra financial risks.
Other coverage options to consider are rental reimbursement and towing/roadside assistance. Even new cars break down sometimes! you may also need new car replacement coverage, which is able to pay for a brand-new car in case of a complete loss, or gap coverage, that pays the difference between the worth of your car and what you owe on your loan. each are smart options if you owe additional on your car than it's value.
How do i buy insurance right away?
Don’t worry if you've got insurance on your current car, you’re fine to drive your new car home, though you decide it up once business hours. Your current auto policy can extend coverage for variety of days, depending on the state where you live. this provides you time to contact your local independent agent or insurance company to add the proper coverage.
Be careful, however, because this extended coverage in most cases are going to be the exact coverage that you presently have - which means you may be driving a brand-new 2017 car with insurance based on your damaged 1999 model. It’s always a decent idea to call your local independent agent before picking up your new car, simply to be safe.
You’ll need to inform your lender (if you have one) know about your insurance, too. They’re taking the risk by financing the vehicle, so they will want proof you have coverage. They don’t want to be left holding the bag if you total the car, after all.
You don’t need to do it on your own.
It may be just as hard to decide on the right insurance coverage because it is to choose the right car. That’s where your independent agent comes in! call us, email us, even text us. we are the consultants - we deal with these issues on a everyday.