How can I calculate the cost of insurance for a new car?

I’m looking to purchase my first new vehicle but want to make sure I can afford the proper coverage. How can I calculate my car insurance cost before purchasing the new car?

Answer
Car insurance is a significant part of the cost of car ownership; it is smart of you to think ahead! The first thing you’re going to want to do before generating quotes is to narrow down your choice to only a handful of vehicles and ask the seller to provide you with their VINs.
To generate the most accurate quotes, the VIN is necessary to give you a more exact cost for you and that vehicle. Looking at average car insurance cost can be helpful, but is not always the most accurate.
Once you have the VINs for the vehicles you are interested in, you should use a comparison tool like Jerry to compare personalized quotes from up to 50+ car insurance companies. Using Jerry will ensure you are getting the best rate and purchasing a policy you can afford. The average Jerry driver saves $879 a year on car insurance!
Since this is your first new vehicle, here are some other things to keep in mind:
  • Get quotes with different collision deductible options—the higher the deductible, the lower the cost in premium.
  • Look into gap insurance.
  • Get the name and address of your finance company. You will need it for your final insurance paperwork.
Jack Walsh
Answered on Oct 22, 2021
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