You just bought a brand new car, and a Progressive auto insurance new car policy now may be in your future
You’ve gone to all the trouble to research, test drive and eventually settle on that new car. You’ll probably want to take just as much time deciding how to best insure your investment. Progressive auto insurance for your new car may prove to be an excellent fit.
New, transferred or expanded policy?
One of your first considerations when looking to insure a new car is whether to take on a new policy or amend and expand an existing one. Unless you are also a new driver, insuring your new car shouldn’t be a new experience for you. If your new car is replacing a car you used to drive, the car insurance coverage you carried on your older car will, for a short time, automatically cover your new car. While other insurance companies have difference rules on this type of overlap coverage, Progressive allows you up to 30 days of coverage on a previous car’s policy before you need to get a new policy to cover your new car.
If your new car is adding to your stable of rides, Progressive will extend coverage to this new car (for up to 30 days) on whatever policy you currently have with them. In fact, adding cars to an existing Progressive policy can get you a discount on your overall car insurance premium.
While the extended “overlap” coverage may be a convenience, you will want to be careful. The coverage types and limits you may be carrying on an existing car may not suit the needs of your new car. For example, if you are financing the purchase of your new car, the terms of that loan may require you to carry collision or comprehensive or even gap insurance on the new car, all additional coverage options you may have declined to add to covering your older car.
Get your free Progressive new car insurance quotes
If you are planning to buy a new car, it’s a good idea to speak with your insurance agent ahead of time to be clear about what insurance coverage you should be considering.
Coverage types and limits
Like other auto insurance companies, Progressive offers all of the car insurance policy coverage options that are required by state laws. Most states require drivers to carry liability insurance, which includes bodily injury coverage and property damage liability. The bodily damage coverage pays for the medical bills of the passengers in the other car if you are found to be at fault in an accident, and property damage liability coverage pays for any damage that you cause to someone else's property or car.
In addition to liability coverage, Progressive offers these options to insure your new car:
- Comprehensive
- Collision
- Uninsured/Underinsured Motorist
- Loan/Lease Payoff
- Medical Payments
- Custom Parts and Equipment/Accessory Coverage
- Rental Reimbursement
- Roadside Assistance
- Pet Injury Coverage
Which of these additional lines of coverage and how high a limit to set will depend on a number of factors. You may want to add the loan/lease payoff option if your new car is being financed and represents a substantial investment on your part. You may want to add custom parts reimbursement if your new car is an expensive one to repair.
Progressive lets you select deductible levels on nearly all of these lines of car insurance coverage. The higher the deductible you select, the lower your premium costs will be but you will want to factor in how much you would be prepared to pay out-of-pocket should you need to file a claim (remembering that you are also making new car payments).
Discounts
Buying a new car and getting it insured might feel like an excessive financial burden but fortunately, Progressive has a number of discounts for car insurance coverage that may take the sting out of the experience:
- E-sign – gives you an immediate $50 savings if you “sign” your insurance coverage documents online
- Homeowners – you can get a discount if you have homeowners insurance with Progressive and add (bundle) your new car insurance with it
- Multi car discount – if this new car is adding to the number of cars you have insured with Progressive, you can get a discount on the premium for all the cars you have insured with them
- Pay-in-full – if you are in a position to pay your entire premium up-front, Progressive will give you a discount
- Snapshot® -- an in-car monitoring service that, if you agree to it, can provide you additional savings based on your driving habits
Buying a new car is an exciting thing and protecting it with the right insurance is an important responsibility. Getting the advice of an experienced insurance professional will help you keep that investment safe and Reply! can get you connected to insurance professionals in your area eager to assist you.