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Do you plan to buy a car? This is what you should know about the insurance that comes with it

It is true that acquiring a car is an important purchase, but not only for the amount of money you are disbursing or for the vehicle credit you are requesting to pay it, but also for the elements that accompany this acquisition and that deserve your special attention.

One of these elements is vehicle insurance.

car loan with money cash

For some buyers, it is surprising that the purchase of the car through a credit, it becomes mandatory to have insurance. This is a mechanism through which banks and financiers ensure that the good – which is the guarantee that they will finish paying – remains “safe and sound” until the end of the credit term.

Something that you should keep in mind is that the bank will propose insurance, but not in all cases it is mandatory that you accept it. In some entities you can also talk with the advisor to manage a policy of another insurer; However, it must match the conditions established by the bank, for example, that it has Total Loss coverage, that is, All Risk insurance.

Before accepting the insurance that they offer

car loan with money cash

Make sure you know what options you have , since you could find an insurer that offers you better prices, benefits and facilities. Ideally, you should have all the clear points before signing the contract, but you should always have insurance that protects the vehicle and once the credit ends, the protection is still important. However, the construction of the credit history is not something that should be left behind, since although you can have the money necessary to cover certain expenses without borrowing from the bank, there are some cases in which requesting financing will be the most appropriate option For example, when it comes to buying a car or a house.

If you are looking for the most convenient option in vehicle insurance, use web comparators such as Danny Natisgodos to verify which offers are valid and compare all insurers in one place.

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