How do I add another car to my car insurance?
In order to drive a vehicle on a public road, you must register with the DMV. All vehicles require auto insurance to be registered, so after purchasing a new car it’s important to obtain auto insurance coverage as soon as possible. The DMV will require all new vehicles to be registered within 30 days of purchase, so it’s important to buy coverage quickly after purchasing a car. Many dealerships will help you contact the insurance company while you’re finalizing the sale, but it’s your responsibility to make sure that the vehicle is properly added.
In most cases, buyers should add any new vehicle to a car insurance policy before driving it off the car dealer’s lot. If you cannot insure the vehicle immediately, however, your auto insurance company may still offer some protection. Most auto insurance companies extend coverage to unlisted vehicles that have been purchased within the last 30 days as long as you have an existing auto policy. This means that if your new vehicle is involved in an accident immediately after purchase, you can file a claim for damage even if you have yet to add that car to the policy.
It’s possible to add a new vehicle to an existing insurance policy. Each policy can have up to four vehicles listed on it, and each car can have its own unique coverage. Bear in mind that certain policy provisions, such as included drivers, will extend to every vehicle on a policy, so it may be advantageous to insure a vehicle on a separate policy rather than adding it with your other vehicles.
For example, you may have a teenage son who presents a high risk to your auto insurance. If he is listed as a driver on your policy, the rates for all vehicles on that policy will be affected. If he is excluded from the policy, however, the rates will not increase for those vehicles. In this case, it may be a good choice to insure all family vehicles on one policy that excludes the teenager, and insure his vehicle separately.
How to Add a New Vehicle to Auto Insurance
Whenever you purchase a new vehicle, whether from a dealership or an individual, you will need to call the insurance company to add the car. This can either be done through the customer service department of the insurer or the local agent. Prior to calling, you will need to have some information on hand:
— The year, make and model of the vehicle being insured
— VIN for the new vehicle
— The vehicle’s odometer reading
— Any special features or additions on the car, such as anti-theft mechanisms
All of this information should be easily obtainable from the vehicle’s title or from the seller.
Once you call the insurance company, adding the vehicle should be fairly straightforward. The customer service agent will take down the vehicle’s information and ask what coverage you wish to add to the policy. If you’d like to add the same coverage to the new vehicle as the other cars insured on that policy, you can simply say so and the coverage will be covered. Otherwise, you can customize the coverage and deductible amounts for the new vehicle.
If the policy does not have any more space for new vehicles, the insurance company will need to set up a separate policy. This will have a unique policy number and a new insurance card. All insurance policies that a person owns will be linked together under their main account. Once the vehicle has been insured, you will receive a new insurance card in the mail; you may also be able to print one out and use it immediately.
How are my Auto Insurance Rates affected by adding a new car?
Whenever you add a new vehicle to the policy, the rates will increase accordingly. Every vehicle that you insure will be calculated individually for risk, so some cars may cause the rates to increase more than others. For example, a more valuable vehicle will cost more to insure than a cheaper car, and vehicles with high safety ratings will cost less to insure than other vehicles.
After setting up insurance coverage for the new vehicle, the auto insurance company will advise you of the new rates and work with you to adjust the policy as necessary to get the best price. You may need to alter your deductible amount or drop coverage in order to maintain affordable coverage; the agent can work with you to ensure that you keep the price low without sacrificing coverage that you need.