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Dec 08, 2020
Why Buy A New Car In December?
The holiday season is typically a time of upsurge in spending on many types of items, including automobiles, and manufacturers and retailers compete with customers by offering deals, sales, and other incentives. 2020 has been difficult financially for most Americans, both individuals, and businesses, and the automotive industry is under enormous pressure to meet quotas and clear the past year’s inventory in order to make room for new makes and models. This means that dealerships are extremely motivated to cut a great deal on a late model car. You may not have as many custom options, but affording a brand new car is well worth the compromise.
Insuring A New Car
Even if you get a fantastic deal on a new vehicle, it is a major investment that you must protect. Whether this is your first car ever or simply an upgrade, working with a qualified car insurance agent will ensure that you get the right coverage. Here are some answers to the most common questions about insuring a new car.
Will the dealership tell my insurance company that I have purchased a new car?
Many people expect when they buy a car at a dealership, that all the little details will be taken care of, but that is not always the case, and it is only you who will be held responsible for any oversights. Some dealerships will offer to assist with the transfer of insurance as an incentive to buyers, but it is not universal or required. Even if your dealership offers this service, you should double check the next business day.
Is auto insurance required in Illinois?
In a word, yes. The State of Illinois requires all drivers to carry minimum liability insurance and uninsured driver’s insurance. You must also carry proof of coverage with you at all times and be prepared to show it to law enforcement upon request. You may also get a random questionnaire in the mail requiring you to show proof of insurance. Penalties for driving without the minimum required insurance include fines, suspended license plates, or a suspended driver’s license.
Will the insurance from my old car transfer over?
If you are buying a new car from a dealership and your insurance on your previous car is current, the coverage will transfer over temporarily to allow car owners time to switch the policy over to the new vehicle and make any changes necessary. Your temporary coverage will be equal to the coverage on your previous vehicle, so if you wish to get additional coverage for your brand new car, you will want to arrange that with your insurance agent ahead of time to avoid disaster.
Should I purchase additional insurance for my new car?
When times are tough, many people reduce their auto insurance to the minimum amount required by law, especially if they have an older car that is not really worth fixing in the event of an accident, or if they don’t drive it very often. When you get a brand new car, there is more at stake. Contact your insurance agent before you make your purchase to discover the different options for collision insurance to cover accidents, comprehensive insurance to protect you against liability from damage to people, animals, and property, and gap insurance in case your car is totaled before your lease is paid off. If your car will be used for work purposes or may be driven by employees, you will also want to look into commercial auto insurance policies.
Purchase Car Insurance In Southern Illinois
Seldom are automobiles impulse purchases. Even if you are unsure of the model you will drive off the lot, it is important to get your questions answered ahead of time so there are no big surprises. Contact Oliver And Associates today to get an auto insurance quote for your new car.
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