Purchasing a used car can be a great way to save money, but if you’re not careful, you could end up in the wrong car with no protection against any potential repairs that may be needed.
What Type of Coverage Do You Need?
Collision
Collision coverage is a good idea if you’re purchasing a used car that is less than ten years old. It will help pay for damage to your car if it’s in an accident with another vehicle or object. If your used car has more than ten years on it and you are financing the purchase, collision coverage may be required by your bank.
Comprehensive
Comprehensive coverage will help pay for damages to your vehicle as well as loss or theft of personal items that are in the car such as purses, laptops computers and tools.
Liability Coverage
Liability coverage is important because it helps pay for injuries and damages caused by you, the policy holder to other people and their property.
Uninsured Motorist Coverage
In the event you are hit by a driver without any insurance or who doesn’t have enough coverage, uninsured motorist coverage will help pay for your medical bills and damage to the car up to the full amount of insurance you purchased.
Underinsured Motorist Coverage
Underinsured motorist coverage helps pay for medical bills and vehicle damage if you’re hit by someone who has insurance but not enough to cover the cost of repairs to your car.
Emergency Roadside Assistance
Some used cars in sewell may need emergency roadside assistance for repairs or jumpstarting if your battery dies in the middle of nowhere.
Extended Coverage Options
Extended coverage options can be added to protect your car in the event of an accident or theft by paying off the total amount of the previous coverage, adding more to pay for medical bills and vehicle repairs up to a certain amount or adding more liability coverage.
Reinsurance
Some insurers will require you to carry extra insurance for your car such as an extended warranty and/or an automobile protection plan or collision damage waiver (CDW). If you’re purchasing a used car from a salvage yard, you may already have all of this coverage. However, if you’re buying from a private party, you will most likely need to purchase it from the same insurance company that covers the vehicle when it is new.
