Is my insurance still valid?

Question

If I sell my car and continue to pay my policy to the end of the month, am I still covered to drive other vehicles (3rd pty)?
As I type this question, I think the answer is no...

Answer 1

When in doubt place a call to your insurance company. Never assume anything as they love to to disown a policy holder if payments aren't made.

Answer 2

Almost every insurance contract in every state of the US will limit you like this:

The insurance you buy covers specifically the vehicles listed on the Declarations Page. It covers those vehicles in almost all circumstances, provided the person driving has your permission or reasonably believes they have your permission. It also covers you secondarily in other vehicles you drive.

When you sell a vehicle listed on the Declarations Page, the policy provides you 30 days of coverage on a 'replacement vehicle' before the new one needs to be added to the Declarations. This allows you leeway to get the new car declared but does not let you replace a cheap-to-insure car with one that's more expensive as a permanent solution.

In your case, it sounds like you do not plan on replacing the vehicle you sold with a new one. You are hoping to carry just coverage for when you drive someone else's car. The policy you have would not be valid. Since you no longer own the vehicle, you do not have an 'insurable interest' in it. If you were to continue to pay premium and a claim were made, the insurer would decline it since your policy should have been canceled and you would receive a refund for premium you paid. Really, once the title and registration go into someone else's name, their computers should catch that and the policy should non-renew.

You MAY be able to buy a liability-only policy on yourself that does not list any specific vehicles, but I doubt it. In essence, if you drive someone else's car, you're covered by their insirance, so that's at least a little consolation.

Answer 3

Normally, no. I would call your insurance company to check though. Usually the insurance is on the car. If you still owned the car and your policy covered you in any car you drive, it would probably cover you. Not likely in the case of selling the car.

Answer 4

I believe the answer is no, but it is best if you call the insurance company.

You are only covered when you are not driving your car but renting a car from rental company like Hertz, Avis etc. You would only have this coverage if you have full coverage too. You might want to call your insurance company for best answer, because each insurance company has different policies.

hope that helps,

Hamada

Answer 5

Yes, you are still covered even though you don't own the car.
All the time you pay your money, you are covered by the terms and conditions of that contract.
When you get a new car, tell your insurance company.

Alan

Answer 6

If you sell your car and buy a new car you will be covered with your previous coverage on your new car for 30 days.

Answer 7

Not sure. I would phone up your insurance company to clarify the situaton before you go and drive, possibly uncovered. Sods law says that you will crash on that one time you drive without it.

I would imagine not though, you can transfer the insurance to the new car though.
Phone up and ask.

Answer 8

It may depend on what insurance company you're with. I'd probably guess no though, as the cost of your insurance is based on the value of the car that's insured.

Answer 9

No. Insurance goes with vehicles, not with drivers.

Answer 10

You are correct - the answer is no as the policy is for your car not you.