Deciding Whether A New Vehicle Is A Good Investment

Is buying a new vehicle really a good decision? While you may love that fresh, new car smell, and you may love the fact that you can easily count on the long-term warranty, there are other factors to think about before you make that ultimate buying decision. In short, you need to be sure you have factored in insurance. This is a big investment, but with the right facts, you can ensure you know exactly what to expect.

Know What You Are Buying

Insurance aspects aside, be sure that you are making a wise buying decision based on your ability to repay any loan you take on. You also want to consider if the vehicle is worth the cost to you. Does this vehicle have all of the features you need or is it one that is based on your “wants” instead? Only you can determine if the purchase is a good decision, but it is possible to look at this from a financial standpoint.

Insurance Considerations

Is a new vehicle a good buy? Most insurance companies have no problem providing full coverage to you for new vehicles. They are in good condition and less likely to require significant repairs. However, there are a few other things to consider.

  • Sports cars are often much higher priced insurance-wise than your typical sedan. They are considered a higher risk to insurance companies.
  • If you buy new with a car loan, the lender will likely require that you have full, comprehensive coverage on the vehicle. This is a requirement until you pay off the loan in full. Only then can you drop down to your state’s minimal requirements.
  • Buying a new car is often more expensive to insure than purchasing a used one. The value is significantly higher and that means it will cost more overall to protect.

Think about your needs for this new car. Are the financial aspects of the purchase in-line? If so, the long-term benefits of owning a new car are worthwhile. Look for the most affordable insurance policies by working with an independent insurance agent. This way, you do not overpay for the insurance product you need.

Should you buy that new car? It is up to you to determine if this purchase is good for your bank account and your personal needs. If you are still concerned, talk to your agent before making a buying decision.

Are Lower Home Insurance Rates Really a Good Deal?

Obtain Good Deals!If you’re like the rest of us, you don’t want to pay a penny more on your home insurance rates than you have to. And with so many low rates being advertised in the media nowadays, it can be tempting to simply choose the lowest rate you can find. However, it’s important to understand that there’s more to choosing great coverage than simply selecting the most affordable home insurance out there.

Low Rates Might Not Offer Adequate Coverage

Though some insurance companies offer special deals and discounts that are usually valid for six to 12 months and do offer good coverage, there are always companies that offer extremely low rates for an unlimited period of time. But often times, even if the coverage amounts are adequate, you’ll find that the companies are lacking in other ways or sometimes are just plain scams. For instance, there are fraudulent companies that never pay out claims. Others don’t send out agents when you need them, and leave you waiting for your money for weeks. And in the event of a claim, that’s the last thing you need.

Finding Reliable and Affordable Home Insurance

The bottom line is, when you’re shopping for affordable home insurance, don’t simply choose the policy with the lowest rates. Find out exactly what types of damages are covered and for how much, and read the fine print to see if the low rates are a special offer that comes with specific conditions. Go online and do a search on the insurance company to see what other consumers say about it, and check with the Better Business Bureau to find out how the company is rated and whether there are any complaints about it.