Car insurance may be mandatory, but it can be fickle, especially when it comes to pre-owned cars.
Check out these three tricks for finding the right insurance policy for your used Volkswagen in Frankfort.
Avoid Carts that Are Frequently Stolen
One of the factors insurance companies consider when pricing premiums is how likely the car is to be stolen. As a rule, thieves go after older cars with fewer security devices, and often sell the parts.
Keep your premiums low by checking out the most frequently stolen cars in your area, and nationally, before buying a car to make sure you do not inadvertently buy one that would make great spare parts.
Choose Your Coverage According to Your Purchase
If you have a loan or a lease on your car, protecting the car is top priority. Buyers who intend to buy on credit should look for greater coverage to protect themselves financially.
However, if you paid in cash, there may not be a good incentive to spring for all the extras.
Be sure to look at the value of your car, and what you owe on it, before signing up for the all-inclusive plan.
Think About Gap Coverage
If you financed your purchased, consider taking out gap coverage.
Gap coverage works by paying the difference between the money owed on the car, and the value of the car, should the car be totaled.
For example, if you buy a car for $15,000, and it is totaled after a year, you might still owe $12,000 on the loan. However, if the insurance company values the car at only $9,000, you might have to pay off the remainder of your loan out of your own pocket.
Gap coverage prevents that by providing the balance.
Ready to find your next used Volkswagen in Frankfort? Head over to http://www.hawkvw.com/ and also like our Facebook page.
