Auction vehicles can cost much less than vehicles from standard car lots or private sales. In fact, auction vehicles are often some of the cheapest cars, trucks and vans on the market. Of course, that is not factoring in the cost of car insurance. Car insurance is one of the most significant costs for any vehicle, and if you decide to buy a car at an auction, it is a good idea to know a few ways to cut your costs and keep your coverage at a protective level for both you and your vehicle.
First of all, you will have to learn a bit about your vehicle in order to know which insurance programs apply to it. In particular, it is a good idea to find out which safety and anti-theft features are present in your auction vehicles and to make sure that these features are functional. This is important with older vehicles, which might not have things like side airbags (or airbags at all) and anti-lock brakes. Your auto insurance company will want to know how the auction vehicle is equipped and may provide discounts for vehicles with features that decrease the chances of a hefty insurance claim or auto theft. Installing side airbags, a wheel club or a car alarm can be a great way to get car insurance discounts on auction vehicles.
Some insurance companies do not provide specific discounts for vehicle safety features, and if this is the case, then you will need to ask about other types of discounts or consider adjusting your coverage in order to get better rates. Before you ask for less auto insurance coverage, however, you should look online for car insurance quotes. Collecting quotes will cut the cost of your car insurance because you will be able to find insurance options from various companies that may be lower than your current policy. It is especially important to look for car insurance quotes if you have not bought a policy yet, as this will help you to avoid wasting any money.
If you frequent auctions but you have not purchased any auction vehicles yet, be sure to consider the cost of insurance before you buy a car or truck. Look for car insurance quotes before you buy if you have access to information on car models that will be available at a particular auction. This can make it easier to decide on a maximum bid that you can afford. Car insurance will always be one of the major costs of auction vehicles, but by knowing about it ahead of time, you will avoid nasty surprises and be able to keep your car insurance quotes low.