Buying a new car is always an exciting experience. You might spend hours researching the best value for the model you are interested in. You might also research the models that have back-up camera, Bluetooth, remote start, and leather seats. But sometimes we are set on a certain car without having looked at what the insurance cost will be. Along with features, it is a very good idea to research the car insurance just as diligently.

Generally, sports cars can cost more to insure as it is riskier in insure speeding drivers as the claims for the results of speeding can be very costly. Also, it makes sense that the more expensive the car, the higher the insurance rates. New cars will cost more to replace. New cars are usually equipped with more expensive features, such as electric and/or heated seats, GPS, and automatic emergency braking.

So, now that we have gone over why rates can be more expensive for new cars, what kind of car insurance should we have to best protect our investment? Liability insurance covers the other driver’s damages in the event that you were to cause an accident. If you finance or lease your new vehicle, the lender will require you to purchase collision and comprehensive insurance as well. Uninsured/Underinsured Motorist coverage helps if an uninsured or underinsured driver causes and accident or if you are the victim of a hit-and-run. Personal Injury Protection helps cover you and your passenger’s medical costs that aren’t covered by your health insurance. Finally, Medical Payments coverage can fill in gaps of your other coverage, including health insurance. Your health insurance may have a high deductible that you have not met yet, or your other car insurance coverage could take time to pay out for various reasons, including pending litigation.

Having the necessary information about what car insurance is best for your new investment can put your mind at ease so that you can focus on the excitement of choosing and buying your new car. Staying informed and speaking to your insurance agent will prepare you in embarking on your new adventure.