Car insurance is no longer a free pass to buy and drive, as the latest update from the Insurance Institute for Highway Safety (IIHS) finds.
It recommends that you purchase a vehicle insurance policy, a deductible, and limits on how much money you can spend on repairs and repairs on the vehicle.
If you don’t have enough money to pay for repairs or repairs on your car, you’ll need to pay off the car as well.
“It’s no longer just about what you can afford, but what you’re willing to pay,” IIHS Senior Insurance Analyst Dan Littman said in an interview with CNNMoney.
“You’re not going to get away with the car if you don [put] money aside to pay the deductible.
You’re going to have to make some decisions.”
Littmann said the new policy requirements could be helpful for those who don’t yet have a car and want to get into the car insurance game.
“I think the new rules, particularly in the case of a first-time driver, are really good to have in place,” Littmen said.
“This means you’re going take some steps to protect yourself in the event of an accident and not just the cost of repairs.”
Here’s what you need to know about car insurance and car repair: The IHS estimates that there are about 10 million cars on the road in the U.S. with some drivers buying a car in the first place and then getting into a new car.
Insurance is supposed to cover repairs or upgrades, but some people don’t pay their deductible on a car they just bought, or are not willing to spend the money.
In addition, people often get into vehicles that they’ve never owned, even if they own a car.
Littmans advice: If you do buy a car, and you’re not yet sure you can get into it safely, you can check out our guide on buying a used car.
The new rules come into effect on April 15, 2018. If you don