Used car as good as new if insurance is renewed
Used car as good as new, if insurance is renewed
Used cars may become a liability over time as their performance diminishes. This is why it becomes even more important that you have adequate car insurance for your used car.
Accidents are equally likely to happen to both new cars as well as used cars. The savior in such situations is the car insurance which protects the owners and vehicles from the financial disaster that an accident causes.
Insuring a used car follows the same basic procedure as insuring a new one. You can easily switch insurance companies at any time. In case of a gap or lapse in renewing your policy, you may need to get your vehicle inspected by a surveyor.
Here are some tips and guidelines to help you choose the right car insurance for your used car:
Know your options well: Be sure about the type of coverage you require for your car. Several insurance companies offer you comprehensive coverage that can be further customized and tweaked to your needs.
Know your car: Being aware of the car type ensures better car insurance. If your car is of the high performance type, it is going to cost you more to insure. The reason being such vehicles are more prone to theft or damages.
Know your deductibles: Follow the mantra, ‘The higher the deductible, (i.e. the part of repair costs or losses not covered by the company) lower the premium”. It is always safe to keep your deductibles high for an older vehicle as this would reduce the premium value.
Car insurance secures your used car from unwanted trouble and helps in keeping it as good as new, so that you can enjoy the stress-free drive.