Getting a new car is exciting, but before you hit the road, remember to transfer your auto insurance to ensure coverage from day one.
Can I transfer your auto insurance?
Yes, you can transfer your old auto insurance to a new car. You can start the process by contacting your agent and informing them of your new purchase. This will save you time and ensure that you stay within your coverage. Your new car likely has coverage needs different from your previous one.
How much car insurance do I need on my new car?
How much coverage you need will depend on whether you have fully financed, leased, or paid for your new car. If you paid for the car in full, you will only be required to have your state’s minimum liability coverage. It is important to note that legal minimums do not cover damage to your car; they only pay for damage to the other person’s car. If you are financing the car, then your lender will most likely require you to get full coverage insurance. If you are leasing the car, then you may also be required to get full coverage for your new car.
What information will my insurance company need about my new car?
Let your insurance company know as soon as you can about your new purchase and ask how long you have to transfer the policy. You typically have a 30-day grace period to switch your insurance from your old to your new vehicle. However, it can depend on your insurance company and where you live. Here are some things you will need to provide your agent with:
- The year, make, and model of your vehicle
- The registration or title
- The odometer reading
- The VIN number
- MSRP/cost of the vehicle
- Financing/lienholder information
Get help transferring your auto insurance
Navigating the world of auto insurance can be confusing. Let one of our experienced Avery Hall agents guide you through the process and ensure your coverage is up to date. Give us a call today at 410-742-5111.