New cars are not always a priority when you are low on budget. Sometimes, a small amount of damage can be tolerable, and you may want to do without repairs for some minor damages. However, that should not stop you from securing maximum protection for your car. Let us first understand what car insurance covers.
- Car Insurance Coverage
As per applicable terms and conditions, a basic car insurance plan covers bodily injuries or any property damages caused to third parties by your insured vehicle. A comprehensive coverage plan protects your vehicle in unique situations such as theft, vandalism, etc.
If you are considering buying a used car with a few damages, you must also ensure whether it is eligible for insurance. Getting coverage for a damaged car might be difficult, but it is possible.
Here are a few things you must consider when buying insurance for a damaged car.
- Your Car Has Got Some Minor Damages
In the insurance world, minor scratches and dents do not qualify as pre-existing damages. Damage to the structural or safety elements of a car, like a collapsed bumper or cracked windshield, count as substantial damage.
- Insurers Wary of Insuring Cars with Pre-existing Damages
For fear of fraud, some insurance companies do not cover pre-existing damage to a car. There have been cases of customers exploiting insurance companies as a part of some scheme to make quick cash.
- Making Out of Pocket Payments for the Damages
While buying a car with pre-existing damages, make sure to ask the seller to deduct the repair costs from the total price to be able to afford repairs there and then. There’s a high probability your insurer won’t cover the repair costs anyway. If in case your insurer offers to cover the damage costs, you might just end up paying higher premiums for coverage.
- Consider Liability Insurance
Liability insurance only covers damage caused to someone else’s property or person. This policy comes in handy when you may not be able to afford repair costs right away but need insurance to drive legally.
Finding the right insurance policy for a damaged car doesn’t have to be difficult. Contact our experts here at Gant Insurance Agency, and we will help you get maximum protection for your vehicle.