Choosing the right car insurance policy can be a very frustrating and at often times, extremely confusing process. However, once you understand the general requirements for what your wanting to cover, the city and state you reside in, as well as your personal finances, getting a quote from companies becomes an important part of the whole “shopping” experience. The tips listed here will help make your searching and purchasing of your new car insurance a lot less troublesome.
The Cost of Your New Car Insurance
The process of buying a new car, although sometimes filled with a little trepidation, is exciting, nonetheless. In order to first shop smartly and make things easier on you before going into a insurance company to get the quote, you first must figure how much you can afford when it comes to an insurance policy; this can be done by yourself. When figuring out how much you can afford on a policy you will need to add your total expenses of the car. Add together the sticker price of your car, taxes on the car, how much it costs to maintain the vehicle, and how much you spend on gas to fill it up. Always keep in mind when looking for a good policy is the more you pay for your car the more insurance will cost you monthly.
A top-of-the-line, fully loaded car, or a high-end sports car, will cost more to insure than the normal looks- great-and-runs-fine car. Reason number 1 being that a luxury car has a higher chance of being stolen or vandalized in some way shape and form. Secondly, it costs a lot more to replace and maintain a luxury vehicle than an economy class vehicle. There are some vehicles that are exempt from this train of thought. Cars that are made by Volvo get a better discount on insurance policies since they do not draw much attention to themselves and, therefore, are less likely to become vandalized. Volvo cars are known to obtain less damage in collisions than other car models.
What Liability Coverage Means
Liability coverage will cover a certain dollar amount when it comes to a person’s bodily harm as well as any property or vehicle damage that may occur during an accident. It is recommended that a person should have at least $100,000 per person and $300,000 to cover the vehicle and property damage. It is best to go with the largest amount of coverage, but always remember it is best to stay within your means. If you are going to lease a car, then you can be safe with just going with the least amount of coverage such as PLPD.
Collision and Comprehensive Coverage Explained
Kelly Blue Book establishes your cars worth, repair costs, and how much Collision and Comprehensive coverage is. What collision coverage will pay for in an accident typically includes any repairs and replacement costs on your vehicle. Comprehensive coverage will cover any damage from any acts of vandalism or even damages from an unlikely event caused by a volcano.
What Personal Injury Protection (PIP) and Uninsured Motorist Coverage Can Do for You
Personal Injury Protection covers any medical expenses that are caused when a person gets into a vehicular accident. Protection Injury Protection also extends to your family members even to other passengers in vehicles that were not found at fault. When a pedestrian is hit by a vehicle, then the holder of a Personal Injury Protection policy has to cover the injured person.
Underinsured Motorist Coverage covers anyone injured in a vehicle accident when either the person found at fault cannot or will not pay. This coverage also applies to hit-and-run accidents and covers the expenses incurred to a vehicle and any bodily harm.
Money Saving Tips When Buying New Car Insurance
Remember that you can be insured online as well as from business offline. Getting at least 3 — 5 quotes will let you see what every company has to offer on average. Also keep these tips in mind when shopping around for the best insurance for you.
Check to see if the companies offer a replacement for “totaled” vehicles. Most companies now days have a service that will replace a “new” car that has been totaled in an accident with another car that is the same make and model. Companies will often times do this without charging a person for this service or the cost of the new car. A “New” car usually has less than 15,000 miles or if the accident occurs within the initial year of being purchased: whichever case comes first. Having added safety options on the car such as side-impact restrains, collapsible steering columns, extra interior padding, and anti-lock brakes.(Most cares have an ABS installed standard with their models.)