Tips on Buying Used Car Insurance Collierville TN

One of the most frequently asked questions when purchasing a used or older vehicle is “do I need to buy car insurance?” Not only do you need auto insurance on your used vehicle, car insurance (or financial responsibility) is the law in all states, whether you own a brand new or an old vehicle.

Allstate Auto Insurance
(888) 355-7971
7755 Tankerston Dr
Memphis, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
1105 N Houston Levee Rd Ste 110
Cordova, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
714 Germantown Pkwy Ste
Cordova, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
6154 E Shelby Drive
Memphis, TN
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
8165 Creekside Cir S
Cordova, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
791 Walnut Knoll Ln
Cordova, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
8620 Trinity RD Ste 102
Cordova, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
2757 S Mendenhall Rd
Memphis, TN
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
5964 Mount Moriah Rd
Memphis, TN
Description
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Phone Hours
SUN - SAT 12:00AM - 12:00AM

Allstate Auto Insurance
(888) 355-7971
6749 Winchester Rd
Memphis, TN
Description
Safe Drivers Save 45% or more on Auto Insurance. Call Allstate Now!
Phone Hours
SUN - SAT 12:00AM - 12:00AM

Tips on Buying Used Car Insurance

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One of the most frequently asked questions when purchasing a used or older vehicle is “do I need to buy car insurance?” The short answer is yes. The long answer is, not only do you need auto insurance on your used vehicle, car insurance (or financial responsibility) is the law in all states, whether you own a brand new BMW or an old pickup truck. Auto insurance protects you, the driver of the vehicle, and all passengers, in the unfortunate event of an accident. It can help cover property damage, and medical bills resulting from injuries sustained during a collision. Even if your car is worth less than $2,000, you can still sustain injuries that amount to thousands more in medical bills.

Car insurance can also help protect you against drivers that do not have insurance or drivers that do not carry enough insurance. In just about every state, thousands of drivers currently do not carry auto insurance or they carry inadequate amounts of car insurance. A standard auto insurance policy, plus uninsured/underinsured auto insurance will provide a significant amount of protection against these individuals. So, now that you know auto insurance is mandatory, so the question becomes “how much insurance do I need to buy for my used car?” A great place to start is your state’s minimum requirements.

Each state has a set amount of coverage that must be carried at all times. If you do not carry the minimum coverages, you risk losing your license, your vehicle, or both. The coverage amounts vary from state to state with the highest amounts in Alaska and Maine and the lowest amounts in Ohio, Louisiana, and surprisingly, Florida. So to begin figuring an amount that works for you, start by locating your state’s minimum requirements by visiting your official state insurance department website. Visit the National Association of Insurance Commissioners (NAIC) at www.naic.org to locate your state insurance department.

Once you have located your state minimum, consider how often you plan to drive (more than 12 miles per day to and from work?), where you live (congested city, rural area, suburb?), and how many drivers will use the car. In most cases, you will have to double the minimum requirements based on this information alone. After asking a series of questions such as age, gender, and employment, and assessing your driving record and credit history, the auto insurance company will offer a quote and make additional suggestions. After speaking with an insurance agent, most people end up purchasing more than the bare minimum.

If you live in a no fault state, 12.5/25/7.5 might be ok if your vehicle is worth less than $7,500 and you find your self in a very minor fender bender. If you live in a tort state, where it is possible that you will have to cover all damages to all parties in an accident, these amounts are hardly enough to cover a serious collision – even if the other vehicle is used.

The best thing you can do to save money on used car insurance is ask about safe driver discounts, usage discounts, and multi-policy discounts. The worst thing you can do is skimp on coverage to save a few bucks in the short-term.

For more information about auto insurance and auto insurance laws in your state, visit Auto Insurance Tipsor your state insurance department for details.

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