Insurance on used vehicle by owner

[AP9]

I've been looking around and haven't gotten a conclusive answer on this.

In my state (and every other state I think) it's illegal to drive a car on a public road without insurance coverage. So what do you do if you're planning on purchasing a used vehicle from a private party? How do you get it home? Do you have the seller meet you at YOUR place, do you have to buy insurance for the vehicle BEFORE purchasing it (and hoping that the seller doesn't call off the deal), or do you just take the risk driving it home?

 

[dparm]

I just call my agent right when I buy the car and say, "please transfer the policy to my new car, make and model _______, VIN # ________, effective immediately". It's never been a problem. My agent told me that is sufficient even if something were to happen on the way home.

 

[HTSS_TR]

Usually your current insurance automatically cover new vehicle(or used) the day you take delivered of the car. Just to be sure call your insurance agent to add the new vehicle before you pick it up.

 

[Dave Hess]

Just call and get a binder with VIN #, make/model

Quote:
Usually your current insurance automatically cover new vehicle(or used) the day you take delivered of the car. Just to be sure call your insurance agent to add the new vehicle before you pick it up.


Yep.

 

[Nick1994]

Your current insurance will cover a vehicle you buy for 2 weeks if I remember correctly.

My dad's an insurance agent.

 

[99Saturn]

Interesting - what are the registeration requirements in IL? In other words is insurance enough or do you need to go transfer the registeration to drive it legally?

The last time I sold a car, guy asked me if they could buy it and hold it on my property so he could insure and register it. Since it was still on the road, I offered to drive it to him as long as he gave me some cash for gas. The previous car had been off the road and allthough I would take it around the neighborhood every so often I made sure to scrape the registeration before the buyer took delivery.

The last 2 cars we've bought the seller also offered to bring to us, or at least come to us to get their plates, etc.

 

[mrsilv04]

Just place a phone call to your agent, and fill him/her in on what you've done.

It's that simple.

 

[The_Jeff]

Read your policy, not someone else's. My policy from my insurer for my state gives me 30 days. Sometimes I come back the next day with plates and an insurance card with my VIN on it, sometimes... it's less legal, but more convenient.

But I'm covered, policy says so.

 

[Oregoonian]

Originally Posted By: Nick1994
Your current insurance will cover a vehicle you buy for 2 weeks if I remember.


Thats whats written in my State Farm Policy.

 

[MNgopher]

Read your policy and or talk to your insurance agent. It / they will tell you what is and isn't covered.

I have 30 days to report a vehicle purchase to my insurer, and the vehicle is considered covered in that timeframe.

 

[Pop_Rivit]

With my insurance I'm automatically covered for 30 days when a vehicle is purchased. I purchased a Buick from my mothers estate, and a couple days later sent my agent an email with the information. Within 20 minutes he responded with the proof of insurance card that I printed out and placed in the car.

I'll be selling the Elantra in the next couple of weeks and as soon as it sells I'll do the same to remove it from our policy-just a quick email.

 

[Lyman]

The last time I bought a vehicle I called my agent and asked the same question. Im covered for 7 days after the purchase till I add it to my policy.

 

[Doog]

Originally Posted By: AP9
I've been looking around and haven't gotten a conclusive answer on this.

In my state (and every other state I think) it's illegal to drive a car on a public road without insurance coverage. So what do you do if you're planning on purchasing a used vehicle from a private party? How do you get it home? Do you have the seller meet you at YOUR place, do you have to buy insurance for the vehicle BEFORE purchasing it (and hoping that the seller doesn't call off the deal), or do you just take the risk driving it home?


State farm automatically covers you for the period it takes to get home and call your agent with the new vehicle information. So if you take delivery on a weekend or holiday you have the same coverage as your current policy.

 

[DuckRyder]

There are some caveats to the above mentioned clauses usually described as "newly acquired vehicle coverage".

No one can truly answer your question without reading your policy, but as a general rule a newly acquired vehicle can be covered for a period of time with the same coverage as the vehicle it replaces or supplements provided that the agent/company is informed of it with in the prescribed period and that all other vehicles in the household are covered by the same company (that could be a problem if you have a room mate of other household resident that carries insurance with another company).

It also sometimes does not apply to motorcycles or other than "personal" vehicles.

One should always read the policy and contact the company or agent for clarification on insurance issues because they can vary greatly by company and by state.