Securing The New Car

In most states, you are legally required to have motor insurance that meets the minimum requirements of state responsibility if you have a car on the road.

However, if you buy a new car, you will probably need more than that. A lender will need you to have a collision and comprehensive coverage that protects the vehicle itself - after all, you own until the final payment is made - the risk Of accidents, theft and other hazards. And it might be wise to think of gap insurance if you have not made a substantial deposit, so they owe no more than the car is worth if it is broken.

Is your new car already secured?

If you are already insured, current car insurance will usually cover you for a short time (14-30 days) until you can call up details about the new car. In this case you need to transfer the new motor insurance.

Usually it has the same cover in the new car that you did in the old one.

If you only had liability insurance in the trade, will only have liability insurance in the new ride. This means that if your old car is paid and the new one is not making arrangements for a collision and comprehensive insurance, the lenders will require to leave the car house.

The purchase of insurance, while at the dealers

If you do not already have car insurance in place, you need to make arrangements for coverage before the dealers leave with the new car.

We recommend you to call more than one agent or compare car insurance rates online. If you are currently uninsured, it is likely that some companies are reluctant to find that you cover, and you get deals from companies that can vary by hundreds, if not thousands, a year of dollars.

You will need to put a deposit on your new insurance cover.

Even if you are insured, a new car is a great time to review what your recent coverage or deals is comparing again. You do not want to be all the savings you just smoke in the finance office when you buy an insurance policy.

What range should I buy?

If the vehicle is financing, the lender will require that you have a full coverage - coverage that is comprehensive and collision that the vehicle is protected against accidents, theft and vandalism. Your insurance company will provide proof of cover for the lender, usually within a few weeks after purchase. If they fail the tests, they can get a very expensive cover to purchase your account and get charged for it.

You should also be sure that you have sufficient liability coverage to protect your assets from injury or damage claims arising from an autofall property. If you have a house or any savings, it is unlikely that the minimum liability cover will be sufficient. Use our calculator car insurance to get an idea of ​​what level of liability insurance to buy.

And if you do not put at least 20 percent in the car, or is financing more than 60 months, take CAP insurance into consideration.

If the rental vehicle, you should check your lease for any minimum limit. Most contracts require you to carry a minimum guard limit liability or otherwise go in breach of the lease, but many require limits higher than the minimum of state responsibility. Leasing companies can limit how much you can increase your deductible.

When buying upright the car, you can go as cheap as the state minimum requirements, and not physical damage coverage to buy such as collision required when he decides that it is not worth the cost.

Car Insurance: What is insured?

A personal car policy is a contract between you and your insurance company. In essence, your insurance coverage offer up to a certain limit, against payment of a premium. Usually you have the choice between four types of insurance:

Liability insurance: Liability insurance insures you against other persons causing injury (personal injury cover) and other goods (covering damage to property) in case of a car accident, up to a certain limit. Since liability claims for pain and suffering can be very expensive, this is an area in which you do not want to be inadequate.

Medical Payments Coverage: medical payments cover pays medical costs as a result of a car accident, regardless of the cause to a certain upper limit. This coverage is required in some states and optional in others.

/ Coverage Underinsured motorists: the uninsured motorist's cover is caused by a driver causing losses secured against or less than adequate insurance is not insured to cover the loss.

Coverage for damage to your car: This cover consists of two parts, collision and comprehensive. Collision assures the value of your car in the event of an accident, while comprehensive protection against other types of damage to your car (eg theft, fire and vandalism). These coverings include a deductible that allows you to pay the amount of a claim you pay per incident.

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