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How Do You Transfer Auto Insurance to a New Vehicle?

If you just bought a new car, you need to contact your insurance company as soon as possible. The insurance you had on your old vehicle won’t transfer to your new car automatically. However, that doesn’t mean your old policy is useless. If you still have several months left on your insurance policy, you will be able to transfer it to your new car after filing the appropriate paperwork.

3 Things to Ask Before Switching Your Old Policy to Your New Car

Don’t switch over your insurance policy to your new car without asking yourself a few important questions. These include:

1. How Much Coverage Will You Need for Your New Car?

Depending on the type of vehicle you bought, you may need a heftier insurance policy than you did with your old car. For example, if you bought an electric car, you will need to purchase more insurance than you did with your gasoline-powered vehicle. Contact your insurance company to discuss the best type of coverage for your new car.


How Do You Transfer Auto Insurance to a New Vehicle?

A new car is an expensive investment, so you’ll want to protect it with an upgraded insurance policy.

2. Would It Make More Sense for You to Switch Insurers?

If you just bought a new car, your insurance requirements may change. If your new vehicle requires a more expensive policy than you were planning on purchasing, it may benefit you to shop around for a different insurance company.

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3. Does Your Insurance Company Know About Your New Purchase?

This piece of the puzzle is crucial. You will need to inform your insurance company as soon as possible when you purchase a new car. Contact your carrier right away to avoid any issues or lapses in coverage.

How Do You Transfer Your Policy?

If you decide to stay with your current insurer, the process to switch policies is relatively simple. Call your insurance company and give them the following information:

  • Your name;
  • Your policy number;
  • The make and model of your new car; and
  • The vehicle identification number of your new car.

Once your insurance agent has the required information, you can cancel coverage on your old vehicle and transfer to your new one while on the phone with your agent.

Why Might You Want a New Policy for a New Car?

There are several reasons why you might want to shop around for a new insurance policy, or an entirely new insurance company, instead of keeping your current one. This may be true if you:

  • Bought a home, because you may be able to bundle your auto and home insurance policies for a multi-line discount;
  • Added a new driver, because additional drivers can cause your premiums to go up;
  • Moved across state lines, because a local provider may prove to be less expensive; or
  • Bought a second car, because many providers offer discounts for drivers with several vehicles.

If any of these apply to you, consider changing insurance companies or speaking with an agent at your current insurance company about different plans you could consider for your new car.