What To Do When You Purchase a New Vehicle

Used or brand new, purchasing a vehicle that is new to you is a very exciting time. After doing research on the type of vehicle you are interested in, choosing the dealership you want to purchase it from, and checking everything out, you may have forgotten one of the most important tasks: securing car insurance for your new ride.

Contact Your Agent

It may seem overwhelming to find the right car insurance for your new vehicle so contacting your insurance agent should be first on your list. Your agent will add the new vehicle to your policy immediately but if you, like most people, complete your purchase on the weekend, you may have to wait until Monday to speak with him or her. Don’t fret because most insurance policies allow coverage for up to 30 days on a newly purchased vehicle.

When you call your agent, make sure you have your new vehicle’s VIN (vehicle identification number) and of course, the year, make, and model of your new investment ready to provide for your insurance coverage.

Replacement Cost

You will need to consider other aspects for your new insurance policy and this is a good time to go over them with your agent. Replacement cost is important because, as we all know, a new vehicle depreciates rapidly, but you will want to ensure that if something happens to your new car, truck, or SUV, you will have enough coverage to purchase a comparable vehicle.

Deductibles and Premiums

If you purchased a brand-new car or a newer model than your previous one, chances are your premium will increase. You may want to opt for a higher deductible which will keep your premium costs down. If you have older vehicles on your policy, you may want to decrease the insurance on those from full-coverage to liability only. This will also help keep your premium costs lower.

Driving down the highway in your new vehicle is exciting and fun but remember to contact your Centralia, IL, Alcorn Insurance Agency immediately to guarantee that you have peace of mind when it comes to your new ride.