answersLogoWhite

0


Best Answer
Insurance transferYes, It's normal. You just call your Insurance Agent and notify them that you are obtaining another vehicle. Your agent will ask the make and model as well as the vehicle identification number to schedule the vehicle on your existing policy. Most companies automatically cover the new car when you trade, but you need to notify them of the change as soon as possible. The newer car will probably increase the premium.

For days 1-4 after you purchase a new car, it is covered by comprehensive, no matter what type of insurance you carry on your other cars. On days 5-14, your new car will carry the same insurance as your best coverage (ex: if you have liability on one car, and comprehensive on a different car, your new car will also be covered by comprehensive). After day 14, you will have no coverage unless you have notified your insurance company and added the car to your insurance plan.

User Avatar

Wiki User

βˆ™ 2015-07-15 20:50:27
This answer is:
User Avatar
Study guides

Insurance

21 cards

When should a tire be replaced

Which of these sentences describes collision coverage automobile insurance

What type of insurance is the same as medical coverage

In which of these categories does car insurance fit

➑️
See all cards
5.0
β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…β˜†β˜…
1 Review
More answers
User Avatar

Parasdave

Lvl 4
βˆ™ 2021-04-28 07:54:07

Yes. If you already have an old vehicle and if you have insurance for the same, you can transfer that insurance to your new vehicle. The transfer of insurance can be possible under certain circumstances such as:

If you buy a new vehicle

If you want to sell your old vehicle

However, one thing that needs to be mentioned here is that since now you have a new vehicle which might have different features and specifications from your old vehicle. hence, your insurance premiums would be high. And, you need to firstly inform your insurance company about your new vehicle purchase as your insurer will do the changes in the insurance policy as well.

Soon after getting the approval from your insurance company and deciding the new premium rates, you can easily transfer your insurance to a new vehicle within 14 days of purchase.

Don't forget to transfer your NCB as well. NCB allows you to get a discount on your next policy renewals.

This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Can insurance be transferred to a new vehicle?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Do you need car insurance on your current vechile before you trade it in?

if you are driving it , of course you do! When you go to trrade it in, the insurance will be transferred to your new vehicle and adjusted accordingly.


What are the charges for transfer of car insurance to a new owner?

The fee can differ from state to state. For example, in Bengaluru, the fee is INR 300 for a Non-Transport Light Motor Vehicle (LMV), while it’s INR 500 for Light Commercial Vehicle (LCV).


Can the used car insurance policy be transferred to the new owner?

No. Insurance is based upon a persons ability to be insured.


How do you switch a title to a new owner?

Title to real property is transferred to a new owner by a written document called a deed. Title insurance cannot be transferred to a new owner. Each owner must purchase their own title insurance.


What is privatization of insurance sector?

Privatization of insurance sector means that the sector is transferred from the hands of the government to private individuals. The decisions and operations of a privatized sector are fully transferred to the new private owners.


What would be the best imported car insurance to get on a new vehicle?

The best imported car insurance on a new vehicle would definitely be from a company like State Farm or Allstate Insurance Company. Reputable companies.


When do you have to get insurance on a new car?

You need insurance on a new car BEFORE you even drive it off the lot. Get a quote before purchasing the vehicle and have it saved by your agent. Then the day you purchase the vehicle, have the VIN in hand, and purchase the insurance before picking up the vehicle.


How much is car insurance on a new vehicle?

Your insurance can vary based on quite a few variables, not just the fact that it is new.


What do you do with your auto insurance when you sell the auto?

You need to call your insurance company to remove the vehicle from your policy. If you are getting a new vehicle, you need to add that vehicle on. If you are not getting a new vehicle, the insurance company will send you a check for whatever amount of money you had left on the policy that was not earned because you did not have the policy for the full term.


Will you get charged for switching your insurance over from your previous car to your new car?

Most insurance companies do not charge you to switch vehicles, but the rates on the new vehicle will be different based on the year/make/model of the vehicle and what coverages you add to the vehicle.


Does an auto insurance company have to pay for a deaf interpreter to find a new vehicle after yours has been totaled?

What. Why would you think this is required? An insurance company will not find you a new vehicle is your is totaled, they will pay you the actual cash value of the vehicle you had.


What companies in New Jersey offer commercial vehicle insurance?

NJM Insurance Group and Progressive Commercial are two of the companies in New Jersey, U.S.A that offer commercial vehicle insurance. In 2012, NJM had $53.7 million in written premiums.

People also asked