New Car Insurance Discount

Driving a new car is great. It's exciting and fun and you don't have to worry about problems that may have plagued your previous old vehicle. You can actually feel even better about your new vehicle when you learn that you might qualify for a new car insurance discount. This type of car insurance discount is available because new cars are usually safer than older cars. Getting a new car often means car payments, so knowing how to get discounts on car insurance is important. The discount car insurance rate you can get for your new car depends on several factors. You can learn about what kind of new car insurance discount you can expect and how to maximize your savings here.

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Chris Tepedino is a feature writer that has written extensively about auto insurance for numerous websites. He has a college degree in communication from the University of Tennessee and has experience reporting, researching investigative pieces, and crafting detailed, data-driven features. His works have been featured on CB Blog Nation, Flow Words, Healing Law, WIBW Kansas, and ...

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Reviewed by Rachael Brennan
Licensed Insurance Agent

UPDATED: Nov 17, 2020

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Thinking about purchasing a brand new car? Buying new is great for saving money on maintenance and repair costs. However, the monthly payments can be a burden. Luckily, most new cars are cheaper to insure than older, pre-owned vehicles. They may even qualify for a new car insurance discount. And in addition to this discount, you may be eligible for other affordable coverage options to help you protect your new car.

You can find FREE car insurance quotes for your new car with our search tool right now.

Consider the Following When Getting a New Car Insurance Quote:

Most automotive insurance companies will offer up to ten percent or more off your monthly premium for a new car insurance discount. These discounts can climb even higher if, say, you’re switching from an old, unsafe SUV to a fuel-efficient sedan with a high safety rating.

New vs. Old Car InsuranceLegend: 2016 Chevrolet Spark 2002 Chevrolet Suburban FloridaIllinoisTexasNew YorkCalifornia 102030405060708090100110120$105$126$20$26$93$101$63$80$48$69

While you’re considering a new car purchase, you should also keep the vehicle’s rapid depreciation in mind. The second you drive it off the lot, its resale, trade-in, and fair market value will drop by thousands of dollars. And if your vehicle suddenly needs to be replaced, you could end up upside-down on your car loan (or be in debt to your dealership if you are leasing the vehicle). To protect yourself against this situation, ask your insurance agent about Loan/Lease GAP coverage and Repair/Replacement Collision Coverage.

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Find Out If You Qualify for Car Insurance For New Car

Whether you are purchasing your car with a bank loan or leasing it from the dealer, you will need to show them proof of insurance before driving it off their lot. Shopping for car insurance for a new car? Compare rates online.

If your new car purchase is replacing your current vehicle, your insurance company should give you between 14 and 30 days to contact them for a new insurance policy quote. Your car insurance company needs to know this so that they can accurately insure you based on the make and model of your new car. It’s actually a good idea to contact them before you make a final purchase just to see if there are similar vehicles that can be insured at a lower premium.

Whether you’re buying your first car or replacing an old one, an accident can happen at any time. And even if you have full coverage insurance, you may not be as protected as you’d think. For these gaps in coverage, there’s GAP insurance (short for Guaranteed Auto Protection). First, make sure your insurance company offers GAP insurance; most of them do and at a relatively low cost. Get a new car insurance quote now!

With Gap insurance, you’ll be protected from a huge bill if you get into an accident while still paying off the financing on your automobile. Sometimes, a total car is valued at less than what you still owe. This can make paying for repairs or a replacement extremely difficult. But with GAP insurance coverage, you won’t be stuck paying for two cars at once.

Enjoy more than just that new car smell – make sure your auto insurance company gives you a new car insurance discount with your updated policy premium. If you need to find the best rates, search for new car insurance with our FREE comparison tool now.

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