How To Manage Insurance When You Buy A New Car

Sherri Ramos

If you have decided to buy a new car, it is important that you take your insurance into account. Your auto insurance policy is going to change with the addition of a new car, so how can you be sure that you have all the tools you need to make the change effortless? This information will help you manage your insurance policy when you purchase a new vehicle.

Make the Call Yourself

Do not count on a dealership to call your insurance company on your behalf. Make sure that you are the one to make the phone call to ensure that your auto insurance company has all the information necessary to help you through the next steps of getting insured.

It's also important that you call right away so that you can ensure you are completely covered. Often, a grace period is put into place to ensure that you are covered in your new car when you drive it home from the lot. This ensures that you have time to fill out your insurance paperwork.

Review Your Policy

Your old insurance policy may not be enough to cover your new car, especially if you are paying a loan. For instance, you may need to have collision and comprehensive coverage based on the paperwork you signed.

This means that you may need to increase your coverage or ensure that you have all the resources necessary to protect yourself if something happens to the car. For example, it could be vandalized. Comprehensive coverage covers vandalism, so you can ensure the car is repaired and ready to get back on the road soon.

Think About Adding Gap Coverage

You might also want to consider adding gap coverage to ensure you are not stuck paying for a car you are not able to use. Say that you accidentally total your vehicle when you still have $5,000 left to pay on your loan. Gap coverage will help cover the rest of your loan.

Look Over Your New Insurance Card Carefully

After you receive your insurance card, look it over with care. Make sure that the information about your new car is correct and that everybody in your household is covered as part of your policy.

Contact an Auto Insurance Agent

Are you ready to change your policy by adding a new car? Contact your auto insurance agent to ensure that you have the best rate and the best coverage based on your needs.