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When you buy a new car (or a “new used” car), there are a number of things to consider. Insurance usually isn’t at the top of the list, but it’s important nonetheless. Next time you’re in the market for a new vehicle, consider these insurance-related questions.
Over at Forbes, writer Amy Danise brings up some interesting insurance considerations when you’re buying a new car. A few highlights:
Would a similar model cost a lot less to insure?
Sometimes similar models have very different insurance rates. For example, in Chicago a 2015 Ford F-150 pickup costs an average of $483 more per year to insure than a 2015 Dodge Ram pickup...
Do I have to buy collision and comprehensive coverage?
If you’re taking out a loan to buy the vehicle, you will be required to buy “full coverage” auto insurance for the life of the loan. That includes collision and comprehensive coverage in addition to liability...
Should I get coverage for vehicle theft?
If you want to receive an insurance payout if your car is stolen, you’ll want to buy comprehensive insurance. It will pay the value of your vehicle, minus your deductible amount.
To that last point, it might also help to find out how likely your car is to get stolen. Some cars are more popular among thieves than others.
Danise includes some additional considerations, so you’ll want to read her full post at the link below.
5 Insurance Questions To Ask Before You Buy A Car | Forbes
Photo by Axion23.
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