Why Can't Used Cars Get Vehicle Damage Insurance?
2 Answers
Used cars cannot get vehicle damage insurance because they are typically 8 to 10 years old and the vehicle damage insurance has not expired. Below are the considerations for purchasing insurance and an introduction to vehicle damage insurance: Considerations for purchasing insurance: Do not duplicate insurance coverage, avoid over-insuring or under-insuring, and carefully review the insurance documents. The role of vehicle damage insurance: Vehicle damage insurance refers to a type of commercial auto insurance where the insurance company compensates within reasonable limits for damage to the insured vehicle caused by an accident while the vehicle is being used by the insured or an authorized driver. Vehicle damage insurance and third-party liability insurance are the basic types of vehicle insurance, primarily covering the loss of the insured vehicle and the losses caused to third parties by the insured vehicle during use.
I also wondered why it's often hard to get collision insurance for used cars. Mainly because older used cars are too aged—insurers fear losing money. With prolonged use, parts wear out more, like rusted chassis or engine issues. In an accident, repair costs are high, making losses likely, so they'd rather insure new cars. I remember when I just bought a used car and asked about collision insurance, the insurer directly said they generally don't cover cars over 10 years old—too risky. It's advised to maintain your car regularly and not rely solely on insurance as a safety net. You can opt for third-party liability insurance as a stopgap. Safety first—before hitting the road in a used car, check the brake lights, steering system, etc., to avoid last-minute mishaps.
