Bringing home a brand new or “brand new to you” car is always an exciting moment, but a whole set of new worries and responsibilities come right along with that new purchase. You now have a car payment to add to your monthly expenses, and actually seeing an extra several hundred dollars come out of your account each month can be jarring. If your last vehicle was a bit of a lemon and you’ve replaced it with a significantly nicer model, you might now be much more worried about getting into a fender bender, bumping a curb and scratching up your paint, or, heaven forbid, your car being stolen. And justifiably so!

Most drivers are at least vaguely aware that the value of a new car begins to drop, or depreciate, pretty drastically once it leaves the dealership. According to CARFAX, a new car usually loses at least 10% of its value just in the first month after purchase! In the first year of new ownership, the car will lose 20% of its value in total, and roughly 15% of its value for every year thereafter. If something happens to your car (i.e., it’s stolen or totaled in a wreck), GAP insurance can help make sure you aren’t stuck paying more than what your car is actually worth.

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everything you need to know about gap insurance

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No matter how you spin it, the Tesla story is impressive. First entering the spotlight in 2013 when the Model S was unveiled, Tesla has become a rightful competitor to established American automakers like Ford, Chevrolet, and Dodge. Since then, the company has set a slew of company and national records. The Model 3 became theworld’s best-selling electric vehicle (EV) worldwide in 2019. Tesla’s annual deliveries increased by nearly 36% year-over-year in 2020. Finally, the company’s market cap outperformed any other manufacturer in 2020.

If you’ve ever considered owning a Tesla, you’re not alone. Teslas are a popular choice for those looking to buy a luxury car that is also an electric car. Americans purchased nearly two-times as many electric cars in the first quarter of 2022 as they did in the first quarter of 2021. From fuel efficiency to futuristic technology, it’s safe to assume that Tesla will continue to edge out some of the other competition as EV adoption only increases. In fact, sales of electric vehicles doubled in 2021 to a new record of 6.6 million, and currently more are now sold each week than in a year a decade earlier. With over 75% of EVs sold being Tesla models, as well as the planned 2023 Tesla Cybertruck, Tesla is the standard for luxury electric vehicles.

So, are Teslas worth it?

The truth is only you can answer this question in the long run. However, to help you decide if purchasing a Tesla is the right fit for you, we’ve broken down some important topics such as safety ratings, purchase price, and maintenance costs.

are teslas worth it

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Car insurance is designed to protect you in the case of an accident. However, it’s also designed to protect you in a situation where you aren’t directly at-fault. Even if you’re a cautious driver with an excellent driving record, there’s always a chance that you’ll be involved in an accident caused by another driver. It’s important to ensure you’re covered during these times.

Insurance generally involves two parties:

1. The policyholder, or first party
2. And the insurance company, or second party

However, when the policyholder is liable in an accident, the other driver can file a claim — as a third party — through the first party’s insurance company.

If you’re involved in an accident where the other driver is at fault, you’ll need to know how to make a claim against their insurance. That’s where a third-party claim steps in. In a first-party claim, you use your own insurance company to cover costs. However, in a third-party claim, you use the other driver’s insurance to pay for your repairs, damages, and medical expenses.

Let’s review the details of third-party claims — and how you can make a claim against another driver’s insurance.

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how to make a claim against someone else's insurance

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While the terms “careless driving” and “reckless driving” may sound similar, the violations are not synonymous. Both refer to a driver not following the rules of the road, but the intent behind each citation and the consequences are what make the difference.

If you’re cited for either careless driving or reckless driving, understanding what both violations mean will help you determine your next steps — and help you understand if you have to pay any fines or higher liability auto insurance premiums.

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whats the difference between careless and reckless driving

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It happened: you got in an accident, and to make matters worse, you didn’t get the other driver’s information. Maybe this accident was a hit-and-run, where someone left the scene after a collision without stopping. Maybe you were flustered from the accident itself and simply forgot to ask for the other driver’s info. Or maybe the other party simply wouldn’t divulge anything!

 
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accident didn't get other drivers info

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