Add a Car to Your Auto Insurance Policy
As our thoughts turn to Spring, we start thinking about that New Car we would love to purchase now that we have finished the Holiday Shopping for everyone else.
This form is designed to be able to send to your insurance company/agent, to make sure you are covered in the event that you purchase a new car and want to drive it away from the lot.
Many times you do not think about the need for insurance until it is too late to shop around for coverage, like at night or on the weekend. Or if you already have coverage you want to think about what new coverages you might want before you get to the dealership, where you will be love struck with your new car, and not thinking straight.
Plan Ahead. Follow these few steps before you go shopping, and you will have a smoother experience in securing coverage on your new toy.
What Should You Remember When You Add a Car to Your Auto Insurance Policy?
1. Plan Ahead
Do you like your current car insurance provider? Do you want to grace them with another vehicle to cover, or do you want to start over with another insurance carrier?
2. Check Your Coverage
Today you might have an older car, which you do not care about as much as your potential new baby. Do you want collision insurance and or comprehensive on the new car? Are your limits of liability coverage high enough? (If you have a new job, life status change, or you have more to lose in an accident, you may want higher limits). Too many people purchase the minimum coverage and regret it later.
Sometimes as your income grows you are willing to accept a higher deductible on your auto insurance to save some money.
If you are going to trade in your current car, you can get a refund of your premium for the balance of that policy. Do you want to apply that to your new policy? Do you want to use a different carrier?
5. Insurance Card
Find your insurance card in your current vehicle so that you know the general coverages you currently have, if you are going to duplicate them on your new car.
As a side note, make sure you understand any new car or used car warranties while you are still at the dealer before you purchase the car.
Information You Need When You Add a Car to Your Auto Insurance Policy
Gather this information about your new car for the Insurance Company or Agent:
- Dealer Name and Phone Number
- Contact person at the dealership (sometimes your insurance agent can arrange all the coverages and confirmations for you).
- Date of Purchase
- Make and Model of Car
- Age of the Car (if previously owned) and Mileage
- VIN Number of the new Car
- Name, Address and Phone number of any lien holder on the car, like a bank or finance company.
- Value of the Car to be purchased.
Good Luck and Safe Driving in your new Wheels!