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There are many factors that go into the price
of insurance for you car. The safety track record of the car, your
previous driving history, and where you live will increase or decrease your
premium. As with auto loans, you need to shop around for the lowest
possible cost. Online quotes are free and there is no obligation.
If this is your first car, you’ll have to
buy auto insurance before you will be able to drive the car home. If you are
financing the purchase, the lender will require that you buy a policy with
comprehensive and collision coverages. Not all states require the purchase
of liability coverage.
If you have owned a vehicle and already have an auto insurance policy, that
will generally cover your new automobile for a period of up to 30 days after
you buy it. Once that 30-day period is up, you’ll have to talk with your
agent or company representative to insure that new vehicle.
Most states mandate that all drivers provide proof of financial
responsibility at registration time or after an accident. Essentially,
that’s proof that you can pay for an accident. You can do this one of two
ways: Post a bond for between $10,000 and $50,000, or buy auto-liability
insurance. Most people choose the latter because they don’t have thousands
in cash lying around.
Depending on what kind of damage your car suffers, one of your physical
damage coverages — comprehensive or collision insurance — will pay for the
damages.
If your car is hit by a deer or other animal, stolen, catches on fire, or is
vandalized, your comprehensive coverage will kick in. If you crash into
something and crunch your car, your collision coverage will kick in.
Both of these coverages are optional and, of course, adding them to your
policy will raise your insurance premium.
Click here for Auto Insurance Quotes
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Click here for Auto Insurance Quotes
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