Car Insurance In Maine For New or Used Cars
Reader’s Question:
Regarding car insurance in Portland Maine, does it matter if the car I will purchase is new one or a used car?
Malcolm
Portland, ME
In general, a used vehicle will cost less to insure since its worth is normally less than a brand new car. Also parts and repair costs tends to be lower for a used car in comparison to a new car and thus if the car must be repaired after an accident the expense should be less for the insurer to fix the used car.
If the new car though is a mid-size family sedan it may cost less than let’s say a used Porsche to insure. So it will still depend on the type of vehicle as well as the age of it on how insurance company will rate your vehicle. Collision-damage costs are also one of the main factors considered in differentiating the cost of insuring one type of car over another.
To a lesser extent, you also want to look at how attractive the car is to thieves, whether it is new or used, if a car is popular to thieves and often stolen it may be higher to insure. If you are searching for a car to buy in Portland, ME and are trying to decide between a new or used car, you can get an automobile insurance quote online if you have internet access, on each vehicle to see what the price difference would be for each to be insured.
One of the best ways to lower your annual premiums is to have a higher deductible amount.. Like a $1,000, is what I carry personally.
Now, if you are a claim free and safe driver like I am, you could be saving a ton of money each year on your premiums. People fail to realize that the deductible amount is only paid when they file a claim and their insurance company pays that claim.
Can I Get a Car Insurance Discount For Buying a New Car?
Reader question:
Can you get new car insurance discounts for certain types of cars?
Jasmine
Sure you can.
If you have a brand new car that is getting a title for the very first time since it is fresh out of the factory, then there are a lot of car insurance companies who will provide you with a car insurance discount in this instance. That’s good news for anybody getting new cars, because the expenses are already huge. Newer cars have higher rates for car insurance premiums, and so this makes it easier to handle the higher threshold of coverage for a new vehicle.
Here are some types of cars that receive discounts for their class of cars.
- Cars that are economic. You can get a new car insurance discount for an economic car, especially on your collision coverage rate, because the parts are easier and cheaper to come by and the labor is cheaper for these kinds of cars. Another great thing about them is that they are often less expensive for you to maintain, so you win on all sides.
- Discount for utility vehicles. Several different car insurance companies offer car insurance discounts for certain types of pickup trucks. Call your car insurance company and ask if they do this, and for what kinds.
- Safety ratings. Cars go through safety crash tests that determine how they will hold up in the case of several different types of accidents, both concerning the car itself and the people inside of it. Cars who perform better get better safety ratings as well as better car insurance rates.
Cheers,
Fashun Guadarrama.
Loading ...