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Possible Insurance Problems After Buying a New Car

Posted in Buying a Car
June 9th 2015 by
0 comments

When buying a new or used car, you may encounter problems with insurance due to your mistakes or other people’s need for personal profit.  These problems may cause increased premiums, meaning you’ll need to pay more every month. Don’t be fooled by scams and be sure to keep yourself safe now for the sake of your future car.

Bad Driving History

When receiving a moving violation, your auto insurance rates are more likely rise, with the increase in rates varying throughout the country.  A DUI results in the most expensive national average premium increase of 92%.  Reckless driving citations also result in increases along with not wearing a seat belt, driving without a license, and violating railroad rules.

Since your insurance quote is based on the information you provide, it is important to provide all of the information you have, including any moving violations, and make sure it is correct.  The main causes of rises in insurance rates are due to missing or newly discovered information which includes unreported accidents.

Demographics

There are many other factors that may affect your insurance rate when buying a car.  These factors include gender and age, marital status, and where you live.  Your driving history along with car-related factors are also taken into consideration such as: safety rating, vehicle size, and the age of the vehicle.

Credit

You may also run into problems with raising insurance rates depending on your credit score.  Insurers have found a correlation between your credit score and how likely you are to file a claim.  Due to this, insurers raise rates for those drivers who have bad credit.

Vetting Your Future Car

Keep in mind that when buying a used car, scammers may be looking to make a large profit off of you by rolling back the car’s odometer.  This can lead to cars being worthless and needing more expensive repairs after you have already overpaid for the car itself.

When buying a used car, examine the car yourself and also hire a mechanic to inspect it.  Test drive the car on different road conditions and ask for the car’s maintenance record.

Keep yourself protected from high insurance rates and scammers by being a safe driver and researching your car and insurance options carefully.


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