Insuring your Brand New Vehicle: Tips and Tricks Author:    Posted under: Auto InsuranceAuto Insurance by Car Types

It’s everyone’s dream to own a brand new car.  However exhilarating this experience may feel, it may also be overwhelming for your pockets—not just because of the overall cost of the car, but insuring it as well.  What does it take to insure a brand new car, and how do you go about it?  Are there any means of driving the cost down if I have a certain budget?
Here are your questions answered with some helpful tips on the side.

First ask the question of what type of car would be best to purchase.  Are you single, do you have a family?  How often do you drive your car?  Do you need to drive it long distances?

Consider how much your brand new car will cost and how much it will also cost to insure.  Make some calls.  It wouldn’t hurt to ask questions this early.  Also remember that the following criteria are used by the insurance company to determine your premium.  First is the repair cost.  If the model and make of your car is the expensive type, then expect that it would need specialized mechanic; ergo, more expensive repair services. Second is the possibility and incidence of theft.  Some cars are more prone to theft than others, and insurance companies are aware of the fact.  Make sure your car is equipped with the right safety feature for this purpose.  Third would be vehicle features such as safety and luxury features.  The former will help pull costs down while the latter will cause to drive it up.  Lastly, the vehicle type and specification- is your car a minivan, an SUV, a sedan, a sports car?  Cars that are bigger may cause more damage than smaller cars; in the same way, normal sedans will cost less to insure than sports cars.

Know the car you’re buying.  Safety features of a brand new car count for discounts from the insurance company.  If you are worried about not knowing about car lingo, do not worry.  You can approach your car dealer and ask them for a list of the safety features your car has.  That way, you’ll be able to provide the insurance company with comprehensive information that would help them make a better quotation for you.

It’s good to talk to your insurance agent.  I know how convenient it can get to surf the internet at home and choose from a variety of quotations available to you at the click of a finger.  However, talking to your agent face-to-face would be a more effective approach, as you will be able to clarify questions you may have, and ask for recommendations regarding insuring your new vehicle.  At the end of the conversation, you’ll feel more confident knowing what options you have, and make sounder decisions as well.

If you can afford it, then opt to pay up front.  It’s really much cheaper if you consider paying the full amount at one time.  However, it is also true that your budget may be a hindrance to this, so the decision is really up to you.  Compare how much the installment is going to cost you when you sum it up together, versus the one-time payment.  Then go from there based on your needs, and your budget too.

It’s a known fact.  You may have more than one car in your garage, and it’s always a joy to see that shiny red one compared to your battered old vehicle.  However, you just can’t let go of the reliable ol’ car for sentimental reasons.  So, your best option is to reduce your policy for that vehicle and amp up the policy for this brand new vehicle you just purchased.  After all, let’s face it- that car really isn’t worth all the money for a comprehensive and collision policy.

Rely on trusted names.  I don’t know about you, but it’s always good to purchase policies from reliable companies.  Their reputation has track records to back them up, and for sure, satisfied customers can also attest the level of customer service they have received from the said company.  Don’t get me wrong- I’m not saying that small companies don’t pose any competition.  But oftentimes, the companies with the bigger names really do get the biggest share – all because of years of experience, and reliability in the business.



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