Any car owner knows how important it is to have a car insurance thus, if he is to get a new car to replace the old one, it is apparent that he will be getting a car insurance for the new car. While it is easy to search for a new car insurance policy online with a high speed internet connection, there is a better option in getting the new car its car insurance policy.
The car owner may reasonably consider switching the Car Insurance from the older car to the new one. There’s no need to buy a another insurance for the new car
There may be a couple of car owners who will be surprised or delighted to know that there is no immediate need to buy another Car Insurance Policy to cover the new car since they can transfer the insurance from the old car to the next. However, there are a couple of important things to keep in mind to avoid any problems in doing so:
• The new car will have the same coverage that the car insurance policy has for the old car. Unless the car insurance policy holder requests for a change or increase in coverage, the new car will be getting the same coverage as that of the old car. It is important for the car owner to be aware of this in certain circumstances such as financing the new car since banks or other lenders won’t grant the car loan to the car buyer without having a comprehensive and collision cover to the policy. In this case, the car owner should request the car insurance provider to increase the coverage.
• Some insurance companies require a certain period before getting the new car in notifying them. In order to get the required coverage particularly the comprehensive and collision, some insurance companies may require the car owner to give notification 30 days before purchasing the new car.
• The car owner will need to provide a couple of pertinent documents. In order to avoid the hassles of being rushed in preparing and submitting the required documents on or before the required date, the car owner should advise the car insurance provider in advance and ask the documents that need to be prepared. The most common documents that will be required for this kind of transaction are the car insurance policy to be transferred, the reason for transferring the current policy to another vehicle, loan documents, or other supporting documents that the car insurance provider will deem relevant.
Conclusion
It is indeed, more reasonable to have the existing car insurance policy transferred to the new vehicle instead of buying a new one but the car owner should be aware of these important steps to take in order to get the necessary coverage. The most important things to keep in mind and do is to inform the car insurance provider in advance or make an inquiry as soon the thought of buying an new car becomes definite.
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Jaydeen Taylor works for insurancecomparison.net, a site that offers a guide on insurance comparison. Get term life insurance quotes without entering any personal information at insurancecomparison.net today!
