Insuring Your New Car
Insuring a new car can be expensive. Especially if you did not have car insurance before or had insurance on an older vehicle, you may suffer from sticker shock when you are given your first insurance quote. Coverage for new cars is more costly because it is typically more extensive than that on older vehicles. Other factors, such as your vehicle’s make, model, and engine size can also cause your insurance rates to be higher.
Fortunately, you do not have to accept the first insurance quote that you are given. Car owners today are becoming savvier and are learning that they can shop around for insurance. At Insure on the Spot, our friendly Chicago car insurance agents will compare rates for you and are committed to helping you find an affordable plan that meets your needs.
Types of Insurance
Many people may not realize that their car insurance coverage actually includes many different types of insurance. These include the minimum insurance coverage that is required by law, along with any optional plans that a car owner may want. Some types of insurance that you can expect to be quoted for when you are shopping for auto coverage include:
- Bodily Injury Liability: Required by law. This insurance covers injuries of other parties involved if you are found to be at fault.
- Property Damage Liability: Required by law. This covers damage to the other party’s property if you are found to be at fault.
- Uninsured/Underinsured Motorist Coverage: Required by law in many states. This coverage protects you in case you are involved in an accident with someone who either has no insurance or does not have the minimum required insurance.
- Collision Coverage: Not required but recommended for newer cars. This covers damage to your car if you are in an accident and are found to be at fault.
- Comprehensive Coverage: Not required but recommended for newer cars. This insurance covers the cost of a non-collision accident, such as storm damage, vandalism, or damage from a falling object.
When you receive an insurance quote, the bare minimum coverage will include the first three types of insurance on this list. While collision coverage and comprehensive coverage are optional, they are strongly recommended for a new car, because the vehicle is worth so much and is unlikely to be classified as totaled after an accident.
To learn more about the different types of insurance available to you and to receive a free quote, don’t hesitate to contact the helpful Chicago auto insurance experts of Insure on the Spot today at 773-202-5060.