Are you about to buy a new vehicle? Well, there are a few things that you need to know and one of the most important ones is the insurance.
Is it necessary to have insurance when you drive off your new car from the lot?
Yes! There are a few scenarios that are possible when it comes to your insurance and we are going to take a look at every single one of them.
- This is your first car.
- You are buying a new car and selling the old one.
- You are adding one more car to your car park.
Whatever the case is with you, you should get yourselves informed about your insurance. Car dealers won’t do that, so this means it’s your responsibility. Plus, they won’t let you drive your car from the lot unless you show them proof for insurance of your new vehicle. You should all keep in mind that you should go to your insurance agent before you go pick your car up. You are probably wondering about the rates as well. Average car insurance can cost over $120 a month, so looking at different insurance providers is a good idea too!
Now, let’s look at each scenario to help you find the answers you are seeking!
How to get insurance for the first time?
Since this is your first car no insurance from the old one will transfer to this. Pick the car you want to buy and then head to the insurance agent to get everything you need before you sit behind the wheel. This insurance is required in every state, so don’t even think about driving without a proof of one!
How to get insurance for the new car when selling the old one?
Are you buying the new car before selling your old one? This means that the insurance from your old car will get you covered for a few days, so there’s no need to insure it at the same time. Use the grace period they are offering and make sure you get information for how many days you are covered. You typically have 4 days but that may vary from company to company.
How to get insurance for the new car that is added to your existing car park?
When you buy a new car and add it to your car park, your newest car will get coverage from the other cars’ insurance policies. What’s most important, it will have the greatest coverage automatically. Remember that this is just for 4 days and then you will have to pay your insurance agent a visit soon. When you add the new car to the insurance list your rate may go up.
To Sum up
I hope that now everything is clear and that you got the right information that you needed for insuring your new car. To be on the safe side, make sure you always consult your insurance agent before you make a purchase of a new vehicle.