Thank youWhy does insurance want to know how much I purchased the car for? How do they use this info?
depends on the year of the veh, if the car is old like 1989 or older it will probably need to have a stated amount (cost new), if it has a salvage title they might ask you for the stated amount, of if you want to have a stated amount.....yes they will rate you based on the info you provide so just be honest with themWhy does insurance want to know how much I purchased the car for? How do they use this info?
I've never had an insurance agent ask me that. I'd be careful.
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