Quick Answer:
It helps to determine the Comprehensive and Collision rates for the insurance quotes on your vehicle
Auto manufacture’s make a lot of unique variations of the same year, make and model. A “base” model could be far less expensive than a “deluxe” model. As you can imagine, the cost to insure a “base” model versus a “deluxe” model can also be significantly different.
By entering the “cost new” you are providing information to the insurance companies that allows them to more closely determine the model you have and base your comprehensive and collision rates accordingly.
Please be careful though. You may mistakenly put in the value of the vehicle today thinking it will help but that could cause problems down the road with claims. So, remember, it’s the cost of when your vehicle was new they are looking for. Don’t worry if your vehicle is a couple of years old and is not worth the cost new anymore. The companies typically take this into account when providing a quote.
For more information or help, Call Us Today at 269-381-9442 or 1-888-378-7464 and one of our iSCHURING agents will be glad to assist.
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