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I bought a new car on a Saturday and my insurance company was closed so I couldn't transfer my current policy or notify them of the purchase but I was still able to drive it home am I at risk repo?
Wiki User
∙ 8y ago
Usually the dealership will not let you off the lot without confirming coverage. As long as you call them Monday and get it changed it will be fine, just don't drive until you talk to them. Many companies offer immediate coverage for new purchases but many do not. If you had full coverage on the vehicle you traded in, then coverage probably transferred automatically but without reading your policy you don't know. Say you had liability on the car traded and drove off in a new car that was financed. You should always be careful. I always recommend that you talk with your agent before buying a new car so you know the cost of insurance as well.
Wiki User
∙ 8y ago
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