The Car Scrappage Scheme is set to finish at the end of this month and with the release of the new “10” registrations, there could be a rush of new car sales in the final week of March.
However Defaqto warns that the excitement of buying a new car and choosing the “cool” options like metallic paint, satellite navigation or alloy wheels can eclipse important financial decisions such as the cover provided under comprehensive car insurance .
Mike Powell, Insight Analyst at Defaqto said: “If you’re buying a brand new car then we’d say “new car replacement’ is an essential feature to look out for when buying your insurance . This benefit means that if your new car is damaged and the cost of repair is above a certain percentage (typically 60 per cent) of its UK list price, or it is stolen and not recovered, then your insurance provider will replace it with a brand new car “.