FRIDAY, APRIL 16, 2021
 When buying a new car, there are many considerations you must make, such as which vehicle has the best gas mileage, the amount of space you and your family need, and the proper insurance to have.
Auto insurance is required by state law no matter what age your vehicle is. If you purchase a vehicle and plan to drive it, it must be insured before you sit behind the wheel otherwise you could face legal repercussions.
Legal repercussions for not carrying insurance can include fines, vehicle impoundment, license suspension and even jail time.
In Delaware, you will be required to carry at least:
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$25,000 in bodily injury liability per person
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$50,000 in bodily injury liability per accident
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$25,000 in property damage liability
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$15,000 in personal injury protection coverage per person
Is Full Coverage Required for a New Car?
Full coverage auto insurance policy refers to the highest amount of coverage you can have on a single vehicle. While state laws won’t require you to carry full coverage auto insurance, you may need full coverage when purchasing a new car. Dealerships will typically want to protect their investment in your vehicle when it is not paid off, so they will require you to carry full coverage auto insurance.
A full coverage auto insurance policy should include:
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Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the vehicle caused by fire, wind, hail, lightning, smoke, theft, vandalism and more.
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Collision Coverage: Collision coverage provides compensation for damages to the vehicle caused by a collision with another vehicle or object.
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Liability: Liability insurance covers bodily injury and property damage you may cause someone else while operating the insured vehicle.
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Medical Payments Coverage: Medical payments coverage, available in some states as personal injury protection, covers medical bills the driver and their passengers may face after an accident, no matter who caused the accident.
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Uninsured/Underinsured Motorist: This insurance covers damages incurred in an accident involving another driver who isn’t carrying insurance.
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Roadside Assistance: Roadside assistance covers trip interruption costs such as running out of gas or needing to be towed.
When Can I Drop Full Coverage from My Car?
You won’t always be required to carry full coverage auto insurance on your vehicle. If you pay off your vehicle, the dealership requirement will likely drop off of your vehicle. You will still be required to carry minimum liability insurance requirements, however.
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It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional
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