Quick insurance question
01-25-2019, 07:35 PM
#1
Quick insurance question
I am currently waiting on transport for my GT3. Is there any reason I need my auto insurance to kick in now or can I just wait until after it is delivered?
Thanks in advance!
Thanks in advance!
01-25-2019, 07:39 PM
#2
01-25-2019, 08:43 PM
#3
If it's at a dealer, you're okay until the transport picks it up. If it's private sale, you should insure it immediately. Personally, I insure vehicles the day I buy them. You're not saving much by putting it off and, in my experience, things go through DMV easier when all the dates match.
01-25-2019, 09:03 PM
#4
Racer
If it's at a dealer, you're okay until the transport picks it up. If it's private sale, you should insure it immediately. Personally, I insure vehicles the day I buy them. You're not saving much by putting it off and, in my experience, things go through DMV easier when all the dates match.
Why take a risk of the transporter having everything in order? How long would it take their insurance to payout? You’re adding an extra layer of protection and to me that’s worth the handful of dollars it may cost you. I did this exact thing this week.
If someone tells you otherwise ask yourself this....are they going to be there for you if there’s a deal??? You know the answer...
Best!!!!
01-25-2019, 09:28 PM
#5
Rennlist Member
If it's at a dealer, you're okay until the transport picks it up. If it's private sale, you should insure it immediately. Personally, I insure vehicles the day I buy them. You're not saving much by putting it off and, in my experience, things go through DMV easier when all the dates match.
01-26-2019, 06:01 AM
#7
Nordschleife Master
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01-26-2019, 01:09 PM
#8
Rennlist Member
Most insurance policies insure newly acquired vehicle for 30 days. That's to say, if you own a car that is insured with xwz insurance company that company, will cover your new car for 30 days without you reporting it.
01-26-2019, 02:18 PM
#10
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Same is true for many of the people who do winter hibernation, turn off most coverages, and turn back on in the spring. Even if you forget to call the insurance company for a ferw days, you're covered regardless.
01-26-2019, 02:31 PM
#11
Rennlist Member
That’s true, except you still might be able to pay for the coverage. Example, you give the VIN and all pertinent information to the insurance company and they will start coverage on just about any car, lol. Not sure why a lot of these insurance companies don’t ask for the bill of sale documents?
Now, putting in a claim might not work if you don’t own the car.
Now, putting in a claim might not work if you don’t own the car.
01-26-2019, 02:37 PM
#12
When I called State Farm they told me they cover 4 days from the purchase date. Another thing to consider, if you finance thru the dealer the lender requires proof of insurance before it can leave the lot.
01-26-2019, 07:52 PM
#13
Rennlist Member
My carrier is Geico and they cover for 30 days without a charge. It is true Porsche leasing and finance want coverage on the car but if you show them you already have a policy on another car, they may be satisfied with that.
01-28-2019, 12:50 AM
#15
Rennlist Member
For new vehicles you can often pay an extra premium for "full replacement value" - an agreed upon valuation of the vehicle. The insurance companies that I've used do this, but typically just for the first year of ownership of a new vehicle. I have a new Porsche arriving in mid February and my (independent) insurance agent already has my VIN and the build sheet and is shopping around for me.
I recommend using an independent agent, btw, because they don't give a crap who writes your policy and are a tiny bit more likely to act in your best interest. If you call up your GEICO, State Farm, Allstate, Safeco, etc. agent then that's all they'll be selling you. Unless, of course, you prefer to personally do all that work...
HTH