Is there any insurance coverage if I got into an accident the same day I purchased a brand new car?

Question

It did not occur to me until I had this dream last night where I bought a new lexus and an hour later got into an accident and totaled the new car.

If there is coverage, what is the extent of the coverage?

I am not a car owner therefore I wouldn't know.

Answer 1

If it is a new car it would need insurance to be registered, and if there is a note on the Auto the bank would also want to see proof if insurance, that the car was insured. But in the dream scenario anything is possible.

Answer 2

1

Answer 3

If you had an existing policy on the car you traded in (if you had a trade in in your dream), most insurance policies will cover the new car for at least 7-14 days before changing all the insurance information over.

If you had a lein against the car, meaing you were financing it through a bank or the dealership, you will have to have full coverage before you can drive it off the lot.

If you're a big baller and paid cash, then drove it off the lot and into a telephone pole without having pre-existing insurance, you're out the $$$$$.

Answer 4

Last time I bough a car the dealer took care of notifying by ins agent that I bought a new car. Unless you makea change, the coverage will remain same as what you had. This DOES happen, drives insurance companies crazy, but you should be ok.

What ELSE did you dream of lately?

PS_ I wass once at a dealer looking at cars,a person just bought a car, pulled off the lot, and another car ran a stop light. Need I say more??????

Answer 5

You don't drive a vehicle without insurance, so when in the market for a vehicle you notify your agent, and upon deciding what vehicle you are buying you call him from the dealership before driving the new car, and give him the needed information. He faxes a proof of insurance card to the dealer, and only then do you drive it. The extent of the coverage depends on what you put on it.

Answer 6

If you currently have an insurance policy on a vehicle, check with your agent. I know that in Utah, you are automatically covered with full coverage with a $500.00 for 4 days from the date of purchase (as long as you have A policy, not matter what the coverages) In Vegas, you are covered for whatever your current policy is for up to 15 days and in California it is covered for 5 days with current limits and 15 at liability only

Answer 7

If you already had full coverage on another vehicle that you traded in or still have then yes it is covered....but if you had just liability then no is the answer.....

Insurance companies extend coverage to new cars if you have full coverage....they give you anywhere from 3-30 days to inform them of the trade in or purchase...the length of time you have to tell them about the new car varies company to company...you just have to check with your company and see what their time span is on this....most good companies give you a week or two but I have heard of companies giving you up to one month!!!

I work in the insurance field so I deal with this alot

Answer 8

My answer refers to Insurance in the state of Texas.

If you have insurance coverage already any recently covered vehicle will be covered for a period of 30 days after the date of purchse.

The new vehicle will be covered to the maximum coverages currently on your policy.

Answer 9

since you do not own a vehicle now you will have to go into the agents office, sign an application and put down some money in order to get insurance started before you take the vehicle off the lot.

You could also go thru a direct company where you do it over the phone.

Answer 10

In Manitoba you can buy a 7-day sticker from the dealer, which has basic insurance and temporary registration. That makes you legal and gives you time to plate and fully insure it.