It’s not always as simple as “buy and goodbye” when purchasing a new car. It’s necessary to figure out test driving, feature selection, and purchase possibilities. Purchasing a new car might be a drawn-out process, but it’s ultimately worthwhile.
One important thing to remember while you shop for a car is that before you take your new vehicle for a spin, you need have an active auto insurance coverage.
It’s critical to understand when you require auto insurance after acquiring a car, regardless of whether you plan to pay cash, finance the purchase, lease the vehicle from a dealership, or buy it privately. Additionally, we’ll discuss which coverages new automobile owners can find useful on an insurance policy.
How soon after purchasing a car do I need insurance?
“As soon as you take ownership of a vehicle, insurance should be in place, regardless of the method of purchase.”
– Team Our Insurance
Before being able to pick up the car, whether you bought it online or in person at a dealership, you will need to provide proof of insurance. When purchasing from a private seller, you are normally not obliged to verify or produce proof of insurance; however, you become responsible as soon as the title of the car is transferred to you.
The advice of our team at Our Insurance? Get the VIN, year, make, and model of the automobile you plan to purchase as soon as possible, and arrange for your auto insurance before you even receive the keys.
Insurance for a new vehicle
It’s helpful to maintain a mental note of your lifestyle and the anticipated cost of your car purchase when you receive an insurance estimate. Why? It’s never a bad idea to ask yourself the following questions because there are a few things that could affect your rate on auto insurance:
Do I pay with cash, via financing, or by leasing?
Are there many car thefts or accidents where I live?
Am I a cautious, secure driver?
You can have a better understanding of the coverages required or desired on your auto insurance policy by asking yourself these and other questions. Here is a brief summary of the most popular auto insurance coverages that you might want to think about adding to your new policy.
Losses resulting from hitting an inanimate object, such as a tree, home, or pole, as well as from being struck by another vehicle are covered under collision coverage.
Physical damage coverage is known as comprehensive coverage in an insurance policy. Certain damages (such as theft or flooding) that don’t require a collision may be covered by it.
If you are found legally liable for someone else’s injuries or property damage, liability coverage assists in covering those costs.
When you are getting quotes for auto insurance, you might want to think about getting these three major coverages. Those coverages can aid in protecting you and your new vehicle in addition to others.
What might occur in the absence of insurance
Driving without insurance might really be more expensive than buying a new automobile, despite the fact that it may appear like a simple way to save money.
As a reminder, even though we’ve written about it previously, driving without insurance is prohibited in many states. Additionally, although while the penalties for driving without insurance differ from state to state, in general, you’ll probably have to pay fines and other costs that exceed the majority of auto insurance rates.
Overall, driving without insurance might not be a wise decision, particularly if you have a new automobile that you intend to use for a long time and in excellent condition.
Fresh vehicle, fresh kilometers on Our
It can be thrilling to feel like a new car, isn’t that right? At Our, we want your vehicle insurance coverage to look out for both you and your vehicle so that the miles you put on it are safe. Our auto insurance will reward you for making thoughtful decisions while operating a vehicle, such as maintaining a safe speed and avoiding distractions.
When you use our app to drive, your phone’s telematics technology tracks your safe driving practices and, over time, rewards you for them each month by lowering your insurance premium.
Additionally, you can instantly acquire a quote with Our in the app and get a policy in place in minutes—even on weekends—when shopping for a new car in USA or Rhode Island. That benefits both parties.