Buying or selling a car means updating your insurance policy. This can be something a lot of people forget to do at times, but it’s a very important part of the process. If you’re buying a new vehicle:
- Call your local agent and ask them to quote the new car so you aren’t surprised by the cost of insuring your new purchase. Providing your agent with a VIN number will give you the most accurate quote.
- Ask if there are any coverages you need to add to the policy to properly cover your new vehicle.
- Be sure to put your new insurance documents and registration in your vehicle.
If you’re selling a vehicle:
- Make sure the tag is turned in before you remove your insurance coverage. All states have their own policies, but in North Carolina, if you remove the insurance from a vehicle before turning in the tag, you leave yourself open to being fined by the state.
This one applies to both buying and selling vehicles:
- Discuss who you have listed as a driver on your policy. Depending on your situation, drivers may need to be added or removed from your policy along with the vehicle(s) you’re buying/selling.
We always recommend our clients read over their renewal documents and make sure their policies are up-to-date, but it’s also a good thing to do whenever you’re making major changes, such as a vehicle change. If you’re in doubt about whether your situation warrants a policy change, always check with you’re agent.