Tips for Customers
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April 5, 2023

Ask Roehr: What do I need to consider when buying a car?

Purchasing a new car can be exciting, especially if you’ve waited a long time and worked hard to buy the car of your dreams. But before you get caught up in the excitement of hitting the road in your new ride, there are some things to remember that will help keep you safe and your car protected.

Here’s our advice on what to do before – and immediately after – you make your big purchase. Take it from experienced insurance professionals: it’s best to be prepared.

Communicate with your insurance company
You’ll need an active car insurance policy on the car you’ve purchased to drive it out of the lot. And while most car dealers will tell you that they’ll contact your insurance company before you drive away, they don’t always follow through.

Luckily, most insurance companies grant policy holders a grace period of seven to up to 30 days to inform them that you’ve purchased a new car. We recommend contacting your insurance company as soon as you buy your car and before you drive it off the lot. If you choose to take the car dealer’s word for it, at least check with your insurance company after a few days to make sure your policy has been updated.

Beware of the upsell
When you trade in your older car for a new or pre-owned vehicle, it stands to reason that your insurance premium will increase. With this in mind, you’ll want to avoid any extra types of insurance that the dealer might encourage you to buy. This goes also for any financial products they recommend you purchase for your car. As long as you have a solid insurance policy, that’s all you need.  

Before you buy, do your homework
Thinking of trading your old, reliable SUV for the latest sports car? Before you make the big switch, find out how much it will cost to insure your new vehicle. Some cars simply cost more to insure than others based on several factors including average repair costs, safety ratings and even how likely it is to be stolen.

This is also a great time to shop around to find the best car insurance policy for your new car. Not only does this make sense if you’re not satisfied with the insurance company you currently use, but also if the new car your buying will require more, or a different type, of car insurance. Some insurance companies might offer a better rate for a luxury sedan, for example, than others.

Consider safety
As insurance professionals, we prioritize safety. That’s why we recommend looking careful at the safety features in the car you’re going to buy. Check for advanced safety features including adaptive cruise control, adaptive headlights, and automatic parking. Forward collision warning and backup cameras are also excellent safety features to look for.

Know what kind of vehicle you need
If you park your car on a city street where parking spaces are at a premium, you might want to think twice about buying a pickup truck. Planning a cross country trip (or a few)? An all-wheel drive car with fantastic gas would be a great choice. Whatever car you decide to buy, make sure you feel comfortable driving it and that it’s ideal for your lifestyle. This will help you avoid accidents.    

Get pre-approved
While you’re exploring your car insurance options, why not compare lenders to find the lowest interest rate and get pre-approved. Not only can this step save you time once you’re at the dealership, but it will help you know how much you can spend on your new car. It’s important to note that the dealer might offer the best financing. So, don’t settle on a lender until you talk to the dealership where you’re intending to make your purchase.

Need to know more about car insurance for your potential next vehicle? The team at Roehr Insurance is here to help answer all your questions so you can be confident and safe on the road.  

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