Insuring New Cars vs. Insuring Used Cars

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Insuring New Cars vs. Insuring Used Cars, auto insurance in Michigan

If you are buying a car, then make sure you have the right auto insurance in Michigan to cover it.

Generally, deciding to buy a new car or a used car depends on your individual circumstances and preferences.  However, if you are struggling to decide between purchasing new or used, then you might want to consider how each type of vehicle will affect your auto insurance in Michigan.  Here are some of the main differences between insuring a new car and a used car.

New Cars

There are many advantages of buying a new car over a used one.  For instance, the vehicle won’t have any miles on it and it’s guaranteed to have a clean record.  Additionally, new cars generally have updated safety features that can help lower your insurance premiums.   Also, new vehicles tend to require less maintenance and usually have readily-available parts that can be more easily replaced using comprehensive insurance coverage.  While these are definite pros to buying a new car, keep in mind that new cars usually translate into higher auto insurance rates.

Used Cars

While many believe that buying a used car automatically means they will have to pay less for their auto insurance, this isn’t always true.  For instance, if your car has been salvaged in the past, then this could affect your insurance rates.  Additionally, if the type of car you buy is popular among thieves, then it doesn’t matter if your car is brand new or several years old.  In some cases, older models of cars actually have a higher chance of being stolen than their modern-day counterparts.  Additionally, if your car lacks modern safety features and has a lot of miles on it, then this can increase the cost of collision coverage.

Before you decide to buy new or used, you should have a good idea of what it will cost to insure a prospective vehicle.  Your insurance premiums could help you decide whether a new or used car is better for your wallet.  To find the right auto insurance in Michigan, turn to the insurance professionals you can trust.  Contact the experts at John Scott Insurance to find the right coverage to fit your needs.  Our dedicated team is ready to get you covered today.

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