FYI: Securing proper car insurance before purchasing a new vehicle is crucial. Here’s a comprehensive guide to ensure you’re covered when driving off the dealer’s lot.
In the thrill of selecting your new ride, it’s easy to overlook the importance of car insurance. This essential document, often stashed in the glove compartment and hopefully never needed, is vital when buying and registering your vehicle. Here’s what you need to know to secure car insurance before acquiring your new car.
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## Conduct Thorough Research
Before making a final decision, start researching insurance options. The cost of insuring different car models can vary significantly. Some models come with hefty insurance premiums, potentially influencing your choice. It’s wise to obtain a couple of quotes before committing to your dream car.
Even if you haven’t decided on a specific car, you can still gather insurance information. Contact your preferred insurance provider or use comparison websites to get an idea of how much it would cost to insure the new vehicle. Some insurers might have better rates for certain models.
Several factors, such as age, gender, annual mileage, and parking location, affect the insurance cost. If you’re adding the car to an existing fleet, a multi-car discount might apply. It could be beneficial to transfer all your vehicles to an insurer that offers comprehensive coverage at favorable rates.
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## Secure Temporary Insurance
Once you’ve selected your new car, you will need the Vehicle Identification Number (VIN) to obtain an accurate insurance quote and policy. You can often add a new vehicle to your policy immediately with just a phone call.
For immediate coverage, contact your current auto insurance provider and include the new car in your existing policy. This offers flexibility—later, you can compare rates to make sure you’re getting the best terms. Any remaining coverage on your old policy will typically be refunded on a pro-rated basis.
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## Don’t Forget Your Documents
When the day comes to take home your new car, remember to bring your proof of insurance. If you added the car to your policy over the phone, your insurance company should email you the necessary documents without delay.
You’ll also need these documents when visiting your local motor vehicle registration office. Proof of insurance and vehicle title are required for registering, transferring ownership, and obtaining license plates. Once you have your insurance paperwork, keep it in the glove compartment, crossing your fingers you’ll never have to use it.
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In conclusion, making sure your car is insured before driving away from the dealership is a crucial step. By conducting research, securing temporary insurance, and keeping your documentation ready, you can ensure a smooth transition to owning and driving your new vehicle.
For more insights and updates, reach out to us at tips@automotive.fyi, or on Twitter @automotivefyi.
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Lawrence Jacobs, Editor of Automotive.fyi.
