PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
How do I insure a car that I'm financing?
I'm financing a car for the first time and I'm not sure what to do about insurance. Is there anything that I should know? What's the easiest way to get insurance for a financed car?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Congrats on financing a car—and that’s a very fair question! If you’re planning to finance a car, the lender will definitely require full coverage car insurance. This includes:
The average cost of full coverage is $1,674 a year, or around $140 a month. The reason why lenders require this type of coverage is because they want to protect their investment from damage—since, without full coverage, an at-fault accident could cause them to lose money on the loan.
If you want to make sure you’re getting the best deal on full coverage, one of the easiest ways is through the
Jerry
app! We’ll get you multiple quotes from different providers so all you have to do is pick the plan that works best for you! And once you pick, we’ll even help with all the hassle of switching, too.Best of luck with insurance shopping, and may all your rates be low!”
View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance for Your Car
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
