Is there any difference in premium for a new car and a used one?

I’m new to the United States and thinking about whether I should buy a new car or a used car. Is there any difference in premium for a new car and a used one?

Used cars have lower insurance prices since they are less expensive to replace. If your car is older and you own it outright, you may decide that comprehensive and collision coverage aren't necessary, lowering your overall cost.

 

Elena G.
Elena G.
Answered on Feb. 28, 2022

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