THURSDAY, NOVEMBER 30, 2023
Buying a new car is an exciting venture, but it also comes with responsibilities, including insuring your vehicle. Understanding how insurance works for a new car can save you time, money and unnecessary stress.
What Is New Vehicle Insurance?
New vehicle insurance is a policy that provides coverage for a brand-new car. This type of insurance often differs slightly from standard auto insurance due to the increased value and specific needs of new vehicles.
New car insurance may include the following:
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Higher coverage levels—New cars may require higher limits to protect against potential loss or damage.
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Guaranteed asset protection (GAP) insurance—This coverage may be required by the lienholder for financed or leased vehicles. If your new car is totaled or stolen, gap insurance may help cover the difference between your car’s market value and the payoff amount. You may be offered GAP insurance at the dealership, so be sure to get quotes from your agent for the best possible rates.
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New car replacement—Some insurers offer new car replacement policies, which can replace your car with a new model if it’s totaled within the first few years of ownership.
Your agent can help you understand how your new car insurance policy works.
Your agent can help you understand how your new car insurance policy works.
How Can You Get a New Car Insurance Quote?
Securing insurance for your new car doesn’t have to be complicated. Consider the level of coverage you need based on your car’s value, driving habits and financial situation. 
If you already have car insurance, check whether it extends to new purchases and for how long.
Work closely with an experienced agent to understand your options and design a new vehicle insurance plan to meet your needs. Your agent can help you compare quotes. Many insurers offer discounts for safety features, good driving records or bundling policies.
If you’re buying from a dealership, they may require proof of insurance before you can drive off the lot. If your car is financed or leased, inform the lender or leasing company about your insurance coverage.
Contact Us
While insuring a new car is similar to insuring an older vehicle, there are specific considerations to remember. By understanding your coverage needs and comparing quotes from various insurers, you can ensure your new investment is well-protected.
Contact Jones-Byrd Insurance Agency in Dunn, North Carolina, to learn how to insure a new car and compare auto insurance quotes.
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NOTICE: This blog and website are made available by the publisher for educational and informational purposes only.
It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
in your state. By using this blog site you understand that there is no broker client relationship between
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