Well, if you you’re in the market for a new car, get ready to get your wallet out twice: once to buy auto insurance and once to purchase the car. In most states, car dealerships won’t actually allow you to drive off the lot before you show proof of car insurance.
If you already have car insurance for your current vehicle, then your existing policy may offer temporary coverage for your new car for a limited time. If you’re not certain if your policy extends coverage, it’s a good idea to check with your insurance agent before picking up your new vehicle.
If your current car insurance policy does automatically extend coverage to a new car, you won’t be required to inform your auto insurance company before buying a car, but don't wait too long after your purchase to notify your insurer. Policies that extend coverage to new vehicles give policy holders anywhere from seven to thirty days to inform them that you purchased a new vehicle. It's important that you know exactly how much time you have to inform your insurer about the purchase of your new car, otherwise, you could unknowingly end up driving without insurance.
Also, be sure to find out if your extended coverage includes collision and comprehensive coverage. If it doesn't, your finance or leasing company may require you to add these physical damage coverages to your new car policy effective immediately.
If you don't have a policy already in place, it’s a good idea to get car insurance quotes while you're still shopping for a car and make sure you compare insurance rates by car model. You don't want to be in the middle of purchasing your new vehicle and discover you can't afford the insurance on it.
If you have been injured in a car accident, or your loved one was killed by a negligent or reckless driver, Kalfus & Nachman can help. Our compassionate legal team can discuss your options and build your case. Every step of the way, we will answer your questions and aggressively uphold your right to a financial settlement. Drivers have a responsibility to obey traffic rules and to drive without distractions. This involves not using a smartphone. With the data showing increasing fatalities from cell phone use, it is important to seek representation as soon as possible after an accident to pursue justice from those responsible. Contact us today to schedule a free consultation.