Your New Car and Insurance
There’s nothing quite like the thrill of buying a new car. It’s an exciting experience! But don’t get caught up in the fun and overlook the ever important duty of protecting your new ride. Make sure to consider your insurance when buying your new car.
You should start to shop around and get some quotes before you make that purchase and drive off the lot. Knowing what your monthly premium will be could affect your budget for your new car. And it’s always good to know how much money you can really afford when you’re car shopping.
If you already have car insurance, your policy will probably cover a new vehicle for some period of time. But it’s important that you know the specifics of your current policy. You’ll definitely need to talk to your agent and update your policy to include your new car. You aren’t required to inform your insurance before buying a new vehicle, but it’s best not to wait long to give them a call. You don’t want to let it go for too long, or you could be driving uninsured without even knowing it.
It’s also important to update your insurance because your existing policy is probably not be the perfect fit for a brand new vehicle. If you’ve been driving an older car for a while, you may want to reconsider some things like your collision coverage.
You should be prepared for your rates to increase when you buy a new car. Depending on the make and model, and the limits and coverage you choose, you may be paying more to protect your new car than you had been paying for your older one.
Congratulations on your new car! But don’t start celebrating until you’ve taken the steps to fully protect it. Don’t delay in talking to your insurance agent about the right auto insurance for your situation.