Can you buy auto insurance the very moment you buy a car?
by Guest » Sat Jan 08, 2011 08:58 pm
Can you buy auto insurance the very moment you buy a car? Do insurance companies work that quickly?
Total Comments: 4
Posted: Sat Jan 08, 2011 08:58 pm Post Subject:
It will depend on the agent. Some agents require you sign the application. Some will allow the signatures to be submitted via fax or at a later date. Contact an agent prior to purchasing the vehicle.
Posted: Fri Jan 21, 2011 04:17 am Post Subject:
Technically you cannot drive a car out of dealership till you have your auto insurance in place. Most dealerships also offer to do your auto insurance for you; however you can usually find more affordable insurance when you shop on your own. What I do is, get the VIN number from the dealer of the auto I have shortlisted and then get multiple auto insurance quotes from different carriers. Shortlist one and ask that company to fax me the insurance policy at the dealership, so that when my car is ready to be driven out, I have insurance too.
Posted: Fri Jan 21, 2011 02:59 pm Post Subject:
yes.
agents can issue a "binder", meaning that they have authority from their company to cover you for a 30 day period until the policy is able to be submitted and approved by his company. once approved, the policy is issued retroactive of the binder date.
Posted: Tue Jan 25, 2011 12:16 pm Post Subject:
Absolutely! As a matter of fact, a dealer would not let you drive off their lot if you don't have insurance.
Posted: Sat Jan 08, 2011 08:58 pm Post Subject:
It will depend on the agent. Some agents require you sign the application. Some will allow the signatures to be submitted via fax or at a later date. Contact an agent prior to purchasing the vehicle.
Posted: Fri Jan 21, 2011 04:17 am Post Subject:
Technically you cannot drive a car out of dealership till you have your auto insurance in place. Most dealerships also offer to do your auto insurance for you; however you can usually find more affordable insurance when you shop on your own. What I do is, get the VIN number from the dealer of the auto I have shortlisted and then get multiple auto insurance quotes from different carriers. Shortlist one and ask that company to fax me the insurance policy at the dealership, so that when my car is ready to be driven out, I have insurance too.
Posted: Fri Jan 21, 2011 02:59 pm Post Subject:
yes.
agents can issue a "binder", meaning that they have authority from their company to cover you for a 30 day period until the policy is able to be submitted and approved by his company. once approved, the policy is issued retroactive of the binder date.
Posted: Tue Jan 25, 2011 12:16 pm Post Subject:
Absolutely! As a matter of fact, a dealer would not let you drive off their lot if you don't have insurance.
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