Leasing or financing a new vehicle can be really exciting, but make sure you know what kind of insurance you'll be paying. It only makes sense that your insurance rates would be higher with a new vehicle than with an older one, so shop around before you finance or lease that auto. If you have a current company that your'e insured with, you can start by calling your agent. See what the difference in premium would be between the vehicle you drive now and the one that you want to buy. Get that quote in writing, and you can use it to shop for insurance with other companies before you lease or finance your new vehicle.
Any new auto that you lease or finance will have to be fully insured, so when you get quotes it's very important that you make sure you're getting equivalent coverage. If one insurance company is much cheaper than the rest, take the time to find out why that's the case. You don't want to get coverage that's not going to protect you if you need it later down the road. That has happened to people before when they've taken out a cheap policy from a company that they hadn't heard of and didn't check out carefully.
Don't let an insurance problem find you after you finance or lease a great new auto. When you shop for an insurer, compare apples to apples and check out each company carefully. Make sure you feel confident about the policy you're buying. if you don't feel comfortable with a particular insurer, there's nothing wrong with choosing to pay a little more to get the peace of mind that you want. In the long run, that extra time spent looking for the right insurance policy for your new auto may be the best investment you've ever made.
How does the Insurance Company Determine the Cost of Each Driver on My Policy?
Thanks to online comparison tools, car owners looking for the best auto insurance coverage can look at competing quotes from a range of insurance companies. Many wonder how a company determines the...
Read More →
Do Wood Burners Change your Home Insurance Premiums?
If you install a wood burner or wood stove in your home, your homeowners insurance policy may need to be updated to comply with state insurance regulations. Laws vary from state to state, and it wo...
Read More →
What is the Difference between Named Perils and Open Perils on your Insurance Policy?
While comparison shopping for insurance, you will encounter two different types of policies: named perils and open perils policies. Understanding the difference between the two insurance policies w...
Read More →