Categorized | Car Insurance

steps to buy used car insurance

The law of the land dictates that it’s of paramount importance to have an auto insurance Policy before taking any car to the road. The purpose of the car insurance is to reimburse your car expenses in the event where your vehicle is stolen or involved in an accident. 

While the process of acquiring used car insurance remains similar to getting insurance for a new car, some of the determining factors to the policy preferred may differ depending with how old your car is. It’s therefore up to the policy providers to assess and advice on the best way forward. 

Following steps may be considered when opting for used car insurance:

1.The first step to buy an insurance policy for a used car involves getting in touch with the insurance provider and stating your request. You will then be required to provide accurate information about yourself. That information will include but not be limited to: your name, social security number, date of birth and employment details.

2.Next, you will be required to disclose vital information about the car that you need to insure. Among the details that you will make known are; the model, make, year of manufacture and the vehicle identification number.  More often than not, insurance providers will demand to have the car presented for their eventual evaluation.

3.Since it’s possible to have acquired the car through a loan or some sort of financial arrangements that are yet to be sorted out, you will be required to present details regarding the lien holder for the car. However, if you don’t owe money on your car, the process will be much easier and cheaper. Cars that are bought on loan may require the owner to consider buying collision insurance which is often regarded as expensive.

4.After that, it’s time to evaluate some of the expected benefits. To start with, consider the benefits associated with a policy that includes body injury liability. What this clause does is to prevent you from lawsuits following an Accident which results in injuries or death of the victim. The victim will be paid as per the insurance guiding principles.

5.For fear that you might also damage other people’s property, it’s important to get a policy that consists of the property damage clause. With that policy, you are Assured of adequate cover when there’s need to pay for any property damage.

6.Car insurance policy is more often not renewed on a yearly basis. Nonetheless, many people may consider the premiums requested to be a costly affair. If you are of the same opinion, there’s a way out through raising the Deductible amount. A deductible amount is the sum of money that you are supposed to pay to the Insurer when you file for car insurance claims. The higher the deductible amount, the lesser the premiums you are expected to pay.

7.Once you are pleased with the agreement that you enter with the policy provider, take time to evaluate all terms and conditions pertaining to the insurance plan. If you find everything to be within your expectations, go ahead and sign the deal. Remember, it’s meant for your own good.