Man looking at scratch on his vehicle - on the phone

Understanding Car Insurance

General Manager Larry Stone Answers Your Insurance Questions

Let’s have a conversation about car insurance. It’s not the most exciting topic, but it’s necessary. Let’s get started!

When customers buy a quality, used vehicle from America’s Car-Mart, insurance is always a part of the discussion. And our compassionate associates are ready with answers.

“We want the best for our customers. We are committed to their success with their vehicle ownership,” says Larry Stone, General Manager at America’s Car-Mart of Harrison, Ark. “We’ll guide them through the car-buying process and answer their questions about insurance. Ensuring our customers’ peace of mind is our top priority. We want our customers to feel confident and secure in their purchase decision.”

Here are some questions Larry receives from customers, along with valuable insights about vehicle insurance that every customer should know:

What insurance is required to purchase a vehicle at Car-Mart?

General manager outside of his Car-Mart store
Larry Stone, General Manager at Car-Mart of Harrison, Ark., often discusses the importance and value of having car insurance with his customers.

“Customers must have liability or full coverage insurance as required by state law to purchase a vehicle at Car-Mart. Full coverage insurance is required for vehicle sales in Texas. Full coverage insurance is required on all vehicle sales above $10,000. It’s important to check with your state’s requirements so you’ll know what’s required for your state.

It’s important to know that customers must maintain insurance throughout the life of their vehicle term.”

What is liability insurance, and why is it important?

“Liability insurance is crucial in case you have an accident. For instance, while driving on slippery roads, you may collide with another vehicle, and that may lead to medical expenses and damage to someone else’s person and car. Liability coverage helps to protect you from such unfortunate events. You wouldn’t want to be liable for someone’s medical bills that could cost more than $25,000.

Also, if you cause an accident, you’ll be protected financially against damages you cause to other vehicles and injuries you cause to other people.”

What is full coverage insurance?

Man on phone after a car accident
Accidents are unpredictable, and that’s why having insurance is crucial to help cover your vehicle and have peace of mind.

“Full coverage includes liability, comprehensive, and collision coverage. Having full coverage provides protection against a wide range of situations that could put you at financial risk. You want full coverage for peace of mind.

Comprehensive coverage protects against damage to your vehicle caused by non-collision events that are outside of your control, such as theft, vandalism, glass and windshield damage, fire, accidents with animals, weather, or other acts of nature.

Collision Insurance is coverage that pays the cost of repairing or replacing your vehicle if it is damaged in an accident, regardless of who is at fault.”

What is the value of vehicle insurance overall?

“Insurance is similar to health insurance, but it’s for cars and is meant to protect you. You may be a careful driver and take good care of your vehicle, but there are others on the road who might not be as responsible. Just like how you can catch a cold from someone, your car can get hit by someone else’s car, which is why having insurance is crucial.

Plus, you can’t afford to pay for an expensive item out of pocket if something goes wrong.”

What are deductibles?

“A deductible is what you pay out of pocket on a claim before your insurance covers the rest. So, you should definitely think about deductibles. In your day-to-day life, if you have an emergency, how much money could you come up with? Could you come up with $3,000 today? Is $500 easier? The lower the deductible, the safer and more secure you will feel.”

Where can I get affordable insurance?

Car-Mart manager and customer sitting inside an office reviewing documentation.
Larry reviews insurance with a customer at Car-Mart of Harrison.

“I sit down with my customers and go online to search for local insurance dealers. Then, it’s up to the customer to make the inquiries. We suggest customers compare quotes from multiple insurance companies to find the best coverage and rates. Also, check for discounts, such as safe driving.”

Should I know the basics of car insurance before I purchase a used vehicle?

According to Larry, it’s important to know about full coverage, liability insurance, deductibles, and more before you purchase your vehicle at Car-Mart. It’s worth noting that your insurance costs may be affected by your driving history, including both your motor vehicle and accident records.

“Protect yourself and your new car by obtaining the right car insurance. Your safety and financial well-being are worth the investment,” says Larry, while adding to make sure to carefully read and fully understand your insurance policy.

“Having car insurance is peace of mind knowing you’re covered,” he concludes. “Most of all, enjoy your car and drive safely.”

If you want to receive more helpful tips like these, be sure to subscribe to our monthly America’s Car-Mart newsletter.

Be sure to check out other helpful blogs like, Budgeting for Your Car and our FAQs about insurance.

Required Insurance Information When Making a Vehicle Purchase

Your proof of insurance documentation must include:

· Insurance Carrier

· Policy Number

· Effective Date

· Comprehensive / Collision Deductible Amount

· Lien Holder (America’s Car-Mart)

Insurance as Required by State Law to Purchase a Vehicle at Car-Mart

· Full coverage insurance is required on all vehicle sales $10,000 or more

· Full coverage insurance is required for vehicle sales in Texas

Please check all state requirements before purchasing your vehicle.

Recent Posts