New car Motor Insurance
Car Insurance for Brand New Cars
Buying a brand new car can be exciting but you should also consider the cost of your car insurance. New cars have a high financial value and the cost of insurance definitely reflects in that but it is not only the cost of the car that is taken into account when an insurance company or insurance saleman works out a quote for you. The make and model of the vehicle play a significant role in the cost of insurance as does engine size. A high end, luxury model vehicle will near always have a high insurance cost.
The reason is that these vehicles have a track record for being stolen or damaged. In such cases, the car owner would file a claim and the insurance company would have to pay off the client. There are various factors which determine the price of an insurance policy such as age, gender, driving record and vehicle driven. In this article, we will only be looking at the ones that affect brand new vehicles. By brand new vehicles, we are talking about vehicles that have been bought from the manufacturing dealer, not a regular dealer.
One of the factors that determine the cost of insurance is the vehicle’s driving history. If the vehicle has been through an accident, the cost of insurance will be high. The insurance company will believe that this vehicle has the likelihood to go through another accident.
A car that has put on several thousand kilometers will have slightly higher insurance as well. A brand new car will not even have a hundred kilometers on its odometer, which results in no vehicle history. If we were to check for a history report on the vehicle, it would be clean of anything. If a car has driven a lot more than the usual, it is considered more risky to insure.
New vehicles are expensive and in case of a major accident, the insurance company should be able to pay the insurer. As a result, the insurance cost will be high on expensive vehicles and it is only to reflect the price. If you would like to further lower the amount you are going to pay, you should make your vehicle more secure and safe.
By installing a quality security system in your car, you are protecting your vehicle from any potential robberies. You should mention to your insurance agent that you have installed a security device, in order to take advantage of a discount. The discount amount would be based on a specific percentage, but it still counts. The only disadvantage about this is that your security system would cost you quite a bit of money.
Some models and makes are little cheaper to ensure when compared to others. In Canada, the Nissan make is the cheapest to ensure. Various regions have different prices and regulations. You should speak to your dealership and insurance broker before you make a final decision.
FINAL TIP: Use an online site to start your research. Internet sites allow you to put in your information, pick a plan and compare it with several well known companies in the market. Once you find a company, you should call them and book for an appointment to discuss your situation.
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- Quick Tips For Motor Insurance
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