Is there anything more amazing than a new car? Yes, but we have to admit that a new car is definitely one of those things that gets us excited. This is because there’s something amazing about owning something that no one else has owned before you. If you’re like most of us savvy savers, you’re well versed in the art of getting used things at great prices. However, there are times where you just want something new.

Sounds familiar? Good — you’re in good company either way, so let’s get down to business here. If you’re going to buy a new car, you’re going to have to start looking at the total cost of ownership — not just what you think the car is actually worth. For example, you need to make sure that you’re looking at the cost of insurance, which could be a lot more than what you might expect. This is because you’re going to have to get full coverage on the vehicle. This means getting it insured for total loss, collision, and comprehensive. Of course, you can opt out of this the way some drivers do by cancelling the policy as soon as you get the car in your name, but this is not a smart financial move.

Let’s say that you actually do this and cancel the full coverage and switch to liability — just enough coverage to make sure that you’re going to be able to drive the car legally. Next week you do this, you get into an accident that’s your fault. The car is marked as a total loss, but guess what — you’re still on the hook for the entire car loan. This is because you purposefully cancelled the full coverage that could have spared you from such a fate. What’s worse is that some lenders even impose a penalty since you cancelled your insurance policy.

It’s just not a good idea at all to do this — it’s going to be a lot more costly in the long run than if you were to just budget in the cost of the full coverage insurance. In other words, you can actually say that new cars and full coverage insurance just make sense together.

Ready to look for full coverage insurance? You’re better off going online than trying to look around in your actual town. This is because you can check out multiple quotes at once. You will also have more chances to tweak your full coverage policy so that you’re only paying for the features that matter to you.

The best additions to add to a full coverage insurance plan are definitely the following: towing, rental car, and comprehensive warranty coverage. The truth of the matter is that it’s easy to feel that you’re never going to have to worry about acts of nature, but the thing is that you will. Comprehensive coverage can also make it possible to get your windshield fixed for free, rather than having to pay for it. Rental car coverage is always nice because you don’t have to worry about getting stranded when you’ve been in a car accident. That’s really just adding insult to injury, and you want to avoid that as much as possible.

Overall, now is the perfect time to make sure that you get the right insurance coverage the first time — and it needs to be full coverage insurance!