What is the best Insurance for a used car?

The entire process of purchasing a used car is totally different as compared to the process of purchasing a new car. Depending on the value of the car, the car insurance premiums may also get impacted.

In this blog, we will help you know the details of buying insurance for a used car. We will also help you with the names of some insurance companies that offer cheap car insurance policies.

Things you should know before buying a car insurance for your used car.

• Do the proper car inspection
• Get the used car insurance quotes
• The cheapest insurance company for a used car
• Different ways to save on car insurance

Car Inspection

It is vital to know the in and out of your chosen used car. Most individual sellers or authorized dealers allow you to take the car for a test drive. However, if a dealer disagrees for a test drive consider it as a danger sign.  There could be a possibility that there’s something wrong with your selected car which the seller doesn’t want you to know. Try taking the help of an expert for a car inspection. Even though you have evaluated the car thoroughly, taking a professional help can still help you in taking a better decision. Remember, look for a certified mechanic for a used car inspection.   

Things you need to get the car insurance quotes

Once the vehicle passes the inspection, your next step is to purchase the car insurance policy for the car you have selected.

If you are purchasing a car from a dealership, the dealer will most like to ask for the proof of insurance prior to driving the vehicle off the lot.

So, for a used car insurance, you need all the below-given details

• Get the details of the date of birth of drivers using the vehicle
• You need to have the driver’s license numbers of drivers using the vehicle
• You also need to have the garaging address of vehicle (most likely your address)
• All the previous Insurance history of drivers using the vehicle
• Also, the driving history of drivers using the vehicle
• Vehicle Identification Number (VIN), which will provide the vehicle’s vital information, including make/model

VIN Check

Vehicle Identification Numbers are especially important for used vehicles. You can see the entire history of the vehicle through VIN Check. Some of the important information which you get through VIN check is whether the vehicle is salvaged, or if it is previously totalled. Looking at its importance, every used car insurance company will ask for a VIN report and on the basis of details present in the report, they decide about the coverage. If a report shows that a vehicle has been salvaged, many companies deny the coverage totally.

Did you know?

Once you have decided the car you want to purchase, you can get the used car insurance quote just by using the VIN, you need not purchase the vehicle first to get the insurance quote.

Mostly all dealerships list the VIN on their website, providing an accurate estimate of used car insurance quote. If approached for insurance purchase, they give away the same quotes which you can use to retrieve the saved quote.

Once you activate the policy, the new insurance company will share the proof of insurance to you and to the car dealer you were purchasing. Once it is done, you can drive off the lot with your car.

Cheap insurance companies for a used car

Based on our research on the policies offered by top US companies, we came up with a few names where you can find cheap insurance coverage for a used car.

           Companies                                         6-month average cost (Premium)

• Allstate                                                     $ 790
• Farmers                                                   $ 680
• Nationwide                                             $ 650
• Geico                                                        $ 702
• Progressive                                             $ 732
• Liberty Mutual                                       $ 740
• State Farm                                              $ 748

As you can see “Nationwide” and “Farmers” have the lowest premium on used car insurance. You can use this data as a baseline information for your further research of finding a reliable and cheap car insurance.

How to save on car insurance?

In addition to finding the best and lowest used car insurance rates, we’ve also outlined various important options that can be followed to keep your premium affordable.

• Always get an estimate for the repairs at a local mechanic shop
• Choose the cheapest long-term option.
• Shop around and compare
• Double check the discounts available to you, which could include:

1.     Paperless discount
2.     Good driver discount
3.     Multi-policy discount
4.     Payment by bank account
5.     Paid in full discount (If paying the premium in one payment)
6.     Multi-vehicle discount