Reader’s Question:

I want to know if there is a difference in insurance premium between used and new car. Where can I get new and used car insurance quotes here in Nevada? So I would know which kind of car could give me savings on insurance cost.

Daisy

Carson City NV

You have done such a wise move – learning about car insurance cost before buying the car. There is no use of buying the most fashionable car when you cannot afford to properly insure it.

There are different types of car insurance coverage that provides different kind of protection. The must-buy coverage is the bodily injury liability and property damage liability because these two are required by almost all states in the US. These cover the cost which you need to pay for the injuries on innocent third party victims and damages to others’ properties which you and your car are at fault. Regarding these 2 liability coverage, the new and used car insurance quotes do not vary much because the extent of damage and injury caused by a new or used car has not much difference.

The used car insurance quotes will come lower when it is about the collision and comprehensive coverage. Collision insurance will cover for the cost of repairs your car will need. The comprehensive will replace your car or pay you in cash the value of your car being stolen or totally wrecked during natural calamities. Compare to the brand new high-end cars, used cars is cheaper to repair and replace. Plus used cars are less likely to be stolen, so they are considered low risk.

If you are getting a used car in Nevada, you might consider totally ditching the comprehensive and collision coverage. Because, for one, they are cheaper to repair, so it might be more practical to pay for the cost from your own pocket. And, as mentioned above, they are less likely to be target for car theft so there’s not much point of protecting it from being stolen when it’s not going to be stolen in the first place. Skipping these two coverage will surely lower your used car insurance quotes.

If your aim is to get a lower car insurance premium, then getting a used car is the best option for you. Plus there are a lot of good finds in used car shops that you can still have a nice looking car without the burden of paying high insurance premiums.