Getting insurance for your new car is important, but many people may not think about it as carefully as they should after buying one. Doing so could cause financial problems once they leave the lot.

Before you start shopping for a new car, it’s important that you first get insurance. According to Penny Gusner, a consumer analyst at Insure.com, it’s crucial to shop around for coverage before you make a final decision. While you may look at cars and narrow down your options, keep in mind that your car insurance costs should also be taken into account.

If you plan on buying a new car, wait until you have a better understanding of your insurance needs to make an informed decision. Doing so could save you a lot of money. However, it’s also important to consider the various factors that affect your financial situation.

Before you buy a new car, it’s important that you know how long your current insurance will cover it. According to Gusner, if you replace a vehicle on your policy, the same coverage will typically cover the new car for up to 24 hours or 14 days. However, if you don’t replace a car, you might not have any coverage at all.

Don’t assume that the dealership will take care of your insurance paperwork. The staff is busy, and it is not their responsibility to add or call a car to your policy. According to Gusner, if the staff members see your insurance card and assume that it contains current coverage, they may let you drive off.

If you’re leasing or financing a car, your lender will likely require that you have both comprehensive and liability insurance. This means that if you have only liability insurance but need collision and comprehensive coverage, you should get it before you leave the lot.

Before you start shopping for a new car, it’s important that you understand what’s needed. For instance, if you’re leasing or financing a car, your lender may require that you have both liability and comprehensive insurance. According to Gusner, lienholders often ask for lower-tier deductibles.

According to Gusner, liability insurance is the basic type of car insurance that you need to have to drive safely. Most states require this type of coverage to pay for injuries and damages caused by other drivers.

In no-fault states, personal injury protection (PIP) is required as part of your basic insurance policy. This type of insurance provides financial assistance to those who are injured due to an accident. Before you start shopping for insurance, make sure that you understand what types of coverage and limits are included in your policy.

If you have a debt that exceeds the value of your vehicle, you should consider getting a gap insurance policy. This type of coverage will allow you to get the money that you’re owed on your vehicle even though it’s totaled. According to Gusner, this type of insurance will typically pay the difference between the vehicle’s value and the amount that you owe on it.

Collision insurance can protect you if you get hit by another vehicle or object while you’re driving away from the lot. According to Gusner, lienholders require that you carry this type of car insurance to ensure that the car is still their property.

Even if you don’t live in an area frequently hit by tornadoes, comprehensive insurance can protect you if your vehicle gets damaged due to natural disasters or fire. Lienholders will typically require you to have this type of insurance to ensure that the car can be repaired or paid off. Before you start shopping for insurance, make sure that you work with an agent to find the best possible coverage for your vehicle.