New vs. used car insurance: What’s the difference?

Choosing between a new or used vehicle is an exciting milestone in your car-buying journey. As you explore different makes and models, looking at insurance costs early in the process can help you build a clear, confident picture of your total monthly budget. Many drivers assume that an older, pre-owned vehicle will automatically cost far less to insure than a brand-new model. Although age and market value matter, insurers price each vehicle using several factors, including expected repair costs,