When you buy a new car how long do you have to get it covered on insurance?

Question

The company I am buying to car from gives you 30 days to show them the insurance... but should you have it when you drive it off the lot?

Answer 1

I think you Miss-understood them. They want to see a proof of insurance card on that vehicle within 30 days, which means you notified your insurance company that you purchased a new vehicle and tha the vehicle is covered with comprehensive insurance as well as liability. When you purchase a new vehicle it is automatically covered under your present policy; depending on the state, for 30 days. Now if you have no insurance; in most state, you can not purchase a vehicle regardless of new or used. So some car lots are providing you with 30 days of risk insurance in the contract just to get you off the lot. That way if you can not show the vehicle is covered by insurance by the end of the 30 day period the finance company can come get the vehicle and sell it back to the seller and you end up with payments and no vehicle til you show a years coverage paid for in advance; and probably risk insurance (extremely expensive).

Answer 2

Some car companies will purchase the first month's insurance on your behalf if you're not currently insured, you might want to ask them about it if you can't get your own policy before you buy the car. Getting insured takes maybe 15 minutes and doesn't cost that much though, I'm sure the car company will charge you much more than you'd pay elsewhere. Since it's illegal to drive without insurance, you definitely don't want to drive it until you're insured. PLUS, how bad would you feel if you biught a brand new car and totaled it in an accident before you had insurance. You'd still be responsible to pay for the car loan, but you'd have nothing more than a wrecked car to show for it!

Answer 3

I asked them once and you should notify them the next day. Like for instance you buy a car Friday night. You are covered until Monday when you should notify them. I mean you can't have it the second you drive it off. The office might be closed and there is no way to call your agent after hours. This might assume though you all ready have insurance with them on another car.

Answer 4

If you pay cash, then the dealer doesn't care. If you financed it with them, they want to see the proof of insurance before you drive off the lot. If you have an insurance card, some dealers will allow you to drive off because it is law that the insurance company has to cover you for a certain period if you get a new car.

Answer 5

It varies from insurance company to company and state to state.

The finance company is giving you 30 days to provide them proof of coverage, however your insurance company may require you to start your policy as soon as 5 days after the purchase. You need to call your insurance company and not drag your feet.

I work for an insurance company and we only give 14 days and then you are ineligible to be insured by our company.

Don't delay...call today.

Good luck!

Answer 6

Generaly, if you have insurance currently on another vehicle, your insurance company will cover you for three days (mine does anyway) after the puchase before you are required to have the paperwork done to insure your new car.

Answer 7

yes, you have 30 days to show them proof, but you need insurance all the time. all you need to do is call your agent and add the car to your policy, then you have 30 days to pay.

Answer 8

dont move without insurance most accidents happen just after starting and before getting home, this also applies during road tests

Answer 9

Yes, it's illegal to drive without insurance.

Answer 10

Yes, the car MUST be insuranced once it leaves the lot.