I remember the day when it didn’t matter what kind of car I bought; the price of the insurance was the same for basic liability. There were a few exceptions, like if it was classified as a sports car or was a four-wheel drive. The insurance company didn’t care whether the vehicle had a clean title or was reconstructed. They were all the same to them. The insurance price for a full-covered car was tied strictly to the vehicle’s value.
Nowadays, you must go shopping for insurance first before buying a car. Many people are surprised at how much a car costs to insure, even for just liability, after making the purchase. It doesn’t even occur to them that the cost to insure can vary by hundreds of dollars between one model of car and another. Take two identical automobiles and compare the insurance price between them, and you might find the premium to be wildly different. How is that even possible?
The reports and technology that insurance companies use to determine the specific risk of a car injuring passengers have improved dramatically. Insurance companies, car manufacturers, body shops, and government agencies now compile data into single sources where another insurance company can pull a record on a vehicle and know the claim and maintenance record by its vehicle identification number (VIN). If a car shows no maintenance history or has been involved in a crash or theft, the insurance cost for that car will be higher than one having a clean record. Many people mistake this for a reconstructed or branded vehicle. It’s not the same. You could buy a car that has a clean title but still costs you more because the history of the automobile shows multiple towing, breakdown, or crash events. That car will cost you more for insurance than one that has not been involved in any accidents.
You can find out how the purchase of a car will affect the price by calling, texting, or emailing our office. We’d be happy to run the VIN through our system and see how it compares to other cars at no cost to you. Before you commit to buying an automobile, check with your company or agent to see what the price is before you buy it. If your company or agent isn’t willing to run that quote, you are with the wrong one. It’s only fair to know how much something costs before buying it. You wouldn’t show up in a checkout line at the store with an unmarked item, hoping it doesn’t cost too much. Why do the same with car insurance? They brought this additional responsibility on themselves by implementing the new technology. You have the right to know what something costs before you buy it.