New Car Insurance

"What is New Car Insurance?"

If you have purchased or are thinking of purchasing a new car, the last thing on your mind will be what happens if you have an accident in it or it gets stolen.

However, accidents and car theft do happen, so it’s important to familiarise yourself with how new car insurance policies operate, as during the first year of a new car’s life, some comprehensive car insurance policies operate very differently than they do with older cars.

In the case of older cars, if your vehicle is stolen or deemed a write-off (meaning to repair it will cost too great a percentage of/ or more than the current value), the insurance company will pay you the current market value of your vehicle. The level of depreciation of a new car in its first year is such that this scenario could leave you seriously out of pocket.

Thankfully then, a lot of car insurance policies have what is often referred to as “new car replacement” cover. What this means is that if your new car is written off or stolen within the first year of it’s life, the Insurance company will provide you with an equivalent replacement new vehicle.

You can compare new car insurance quotes from multiple brokers and direct insurance providers here at Q4 Insure, please click hereto get started. Once you’ve completed your quotes be sure to check each companies replacement car terms.