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Finding auto insurance quotes for a used vehicle is not really any harder than finding an auto insurance quote for a new vehicle. You still go to the same sites and try to get the same information, but there are certain aspects of coverage that you don’t need or you might reconsider. The reason for these considerations is that it may be cost prohibitive to spend more money on a car’s insurance if the insurance is worth more than the car. Don’t pay for coverage you don’t need on a used vehicle.

The first coverage to consider when you get an auto insurance quote on a used vehicle is the collision coverage. If the vehicle you have purchased is five years old or newer definitely get the collision coverage. This is also true if you have purchased a used vehicle and are financing it. Until the loan is completely paid off you do not want to drop this coverage or you may be in violation of the terms of your loan. Keep the coverage if it is under five years old or your loan is still standing.

If the vehicle is over five years old and you are not paying a loan you should consider a few things in reference to collision coverage. First, if the collision coverage for one year totals more than 10% of the car’s value you should consider dropping the coverage. You can determine the value of the vehicle by using Kelly Blue Book and you can get the cost of your collision coverage by checking the declarations page of your auto insurance policy. Remember, most policies renew every six months so you may have to double the collision amount.

This previous example of when to drop collision coverage, however, is completely based on if you have the financial means to replace the vehicle should it be rendered not drivable. If you think the collision coverage costs more than the vehicle you should consider dropping it, but if you were to total your vehicle and financially would not be able to get a new one you should consider covering the vehicle. The insurance company wouldn’t be able to completely cover it, but you would get something to help you start over.

There are other considerations to make when getting an auto insurance quote on a used vehicle, but really collision coverage is the biggest decision to make. Your liability coverage should remain the same as your liability doesn’t change based on the age of your vehicle. Follow these tips and you will get the best auto insurance quote for your used vehicle.