Whenever you fiance or lease a new car you'll have to adhere to the contract terms stating your auto insurance coverages. Normally you the purchasee will go with the required miminum coverage in order to satisfiy these terms and conditions, but I ask you, is it a good idea. Depending on the vehicle purchased the basic coverage might be fine, but if it's an expensive car I would suggest you get a more indept insurance policy. My reasoning is this; you'll have better protection in the event of an accident or if the vehicle is stolen and never recovered. It'll cost you more with your premium coverage but in the long run you won't be sorry. All insurance companies use the NAPTA book for wholesale and retail prices and if they're going to pay off your vehicle because of a lost this guide will provide the high and low amounts that your vehicle will be worth, and you can bet they will use the lower margin if possible. So for you the consumer having the wider range of coverages will protect your out of pocket cost if any later on. Consider it a savings plan even if you never go through the experience of having your car stolen or totaled in an accident. Though most manufacturers today install anti theft devices, criminals have found new ways to get around them and as the adage goes, better safe than sorry, so by having better insurance coverages it'll help you sleep at night. Of course this is my personal opinion and having lived through the experience of having a car stolen, I guess I am best quailified to assure you of the facts. Besides you don't want to leave the appraisal to an insurance adjuster who will surely adjust the payoff in favor of the insurance company leaving you with an out of pocket expense on top of not having a vehicle to drive, so get the better coverage for your own peace of mind. On the flip side, if you purchased a less expensive automobile then I would suggest you stay with the required basic coverage and opt out of the more expensive one because the value of your car won't be worth much because of the depreciation factor once you drive off the lot. Remember money spent well is money saved.
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