Used Car Insurance | Used Car Warranty

Purchasing insurance for a used car is similar to the process when buying insurance for a new car.?? However, there are several insurance considerations to take into account when buying a used vehicle.?

When you buy a used car, make sure you are familiar with your insurance policy?s vehicle transfer period.? This is very important as if you do not adjust the coverage to reflect your new vehicle within the specified time, typically fourteen to thirty days, you could end up without insurance on the vehicle.??

Buying a used vehicle can really make a lot of sense when considering the insurance costs compared to a new vehicle.? Insurance costs can be hundreds of dollars a year more in comparison to a?new vehicle.? Take the time to evaluate your insurance coverage needs and shop for your best rate.? You may also need to purchase additional coverage such as collision, comprehensive and gap for your used vehicle purchase.?

As your car gets older, insurance rates typically go down.? By buying a reliable and efficient car, you can save yourself a lot of money on insurance in the long run.? New vehicles may offer more power, refinement, and cabin comforts, but buying a good used car can be a great way to save money.?

It is well known that when a new car is driven off the dealer lot, it typically loses thousands of dollars in value in an instant.? Also take family considerations into account when buying a car.? Would the car be a safe, trust-worthy and efficient vehicle for your child once they are old enough to drive?? These are all important factors when purchasing a previously owned vehicle.?

If you are purchasing a used vehicle that is not being financed for a low price or have an old vehicle, you may not want to purchase collision or comprehensive coverage for the vehicle.? For example, if your vehicle has a market value of ,000 and the lowest collision deductible amount is 0, it may not make financial sense to purchase the coverage.? Drivers can also save money on their collision and comprehensive coverage by raising their deductibles.?

September 23rd, 2011 | Filed under: Used Car Insurance

Source: http://www.district-rfo.org/used-car-insurance-2.html

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