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Insurance for the Used Car

One of the things you should factor into the online auto insurance quote you receive is the type of car you drive. The age, condition, Kelley Blue Book value and replacement costs should all be considered.

The age of your car: If you have an older model car that means it could be expensive to find replacement parts and restore. On the other hand, it could mean that you car isn’t actually worth replacing after an accident. This will factor into whether or not you want to buy collision or comprehensive coverage and how high you want your limits to be.

The condition of your car: The condition of your car before an accident can determine whether or not you should have high limits on comprehensive coverage or if you want to skip it. Remember, insurance is going to make you whole which means it will only make enough repairs to being your car back to its state before your accident.

Kelley Blue Book and replacement costs: When you get your auto insurance quote, figure out how much your premiums are in relation to the Kelley Blue Book value of your car. If your premiums are more than the Kelley Blue Book value, but less than the actual replacement costs of your car, then it could be worth it. But if your car would be inexpensive to replace and is not worth much according to Kelley Blue Book then an expensive car insurance policy may not be valuable to own.

Remember, your auto insurance policy should suit your needs and budget and be appropriate for your lifestyle. Don’t choose just the first policy, limit or deductible you get a quote for, instead, focus on the value of what you are insuring as well as what you can afford and design a policy that suits you.

May 27, 2010

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