If You Sell Your Car What Happens To Insurance

If you buy another car at the same time you sell you can simply contact your insurance agent and notify him of the vehicle change. Typically only the named insured has the right to request documents and to make changes to the policy.

What Happens To Your Car Insurance When You Sell Your Car

However if you are planning to buy a new car immediately you will need a car insurance from the onset.

If you sell your car what happens to insurance. But no two companies view claims the same way. You need to let your insurance agent know that you have sold the car. If youre selling your car and not replacing it you should cancel your cover immediately as you no longer own the car and theres no point paying for cover you dont need.

However if you are going to be replacing the vehicle soon i would recommend keeping the vehicle on your policy until you find a replacement assuming its. Failure to cancel could also result in a claim against your insurance if the new owner has an accident. The state is not going to inform your insurance company that youve sold your car.

That is your responsibility. If you are putting your car up for sale you should think twice before you suddenly cancel your policy. Even so there are a few important things to keep in mind.

Many couples will purchase their auto insurance and list both names as named insureds but this doesnt happen in every case. So youve sold your vehicle its four months later and you get your policy renewal notice in the mail. Then they can cancel your policy for you should you choose to do so.

A spouse dies and theres a surviving spouse. You may not plan on owning the vehicle for much longer but prematurely requesting your company to terminate coverage is the last thing you want to do as a responsible title holder. And it suddenly dawns on you that you never told your insurer that the car is long gone.

Youve just had a hands on lesson in the value of car insurance. In order to do so you need time for your cancellation or insurance transfer just right so you are never driving uninsured. The tricky scenario occurs when you sell a car and dont buy another right away.

If you want to sell your car you definitely do not want to pay for insurance on that car after the transaction has gone through and the title is transferred. If you have other cars on your policy you likely dont have a problem. An at fault accident will drive up your car insurance rates whether you stay with your old company or find a new one.

Even so there are a few. If your company didnt measure up its time to consider a change. It will provide you with instructions on how to transfer title properly surrender the plates and.

When you plan to sell your car you should notify your insurance company of the pending sale.

How Can I Sell My Car Without Renewing My Insurance Policy