Looking for car insurance scheme for your old cars? Then the following tips will be helpful for you. Totaled car insurance scheme can be ideal choice for old cars as well. It covers up your extra charges so that you won’t have to pay for any additional costs from your own.
Here are the points to remember while going for car insurance for old cars.
• It’s tough to find gap car insurance for cars older than 8 years old. However, there are a few companies which will let you buy gap car insurance for your used car up to 24 months after the purchase of your car.
• It’s easier to get totaled car insurance for used cars through online mode. But you need to verify the clauses before going ahead with them.
• Insurance companies can vary on the policy prices. Hence make sure to get a few quotes for gap car insurance for your used vehicle. Also don't forget to do the figures to make sure you need gap insurance for your used car. If you got a good deal on your old car or put down a down payment, then you may actually owe on your loan what your old car is worth and in that case, totaled insurance would not be very beneficial for you.
• If you paying cash for your used car then you don't need gap insurance. Gap car insurance only covers the gap between what you owe on a loan and the actual cash value of the car, so if you don't have a loan then you cannot get totaled insurance.