question about car insurance.

[purbeast0]

This Saturday I'm going to be purchasing a new car. prior to picking it up at the dealership I'm going to call my insurance company and let them know that I will need insurance for the car on Saturday when I drive home, and then give the dealership this info to speed the process up.

However I am not going to be trading my current car in. I'm going to have it still, but it is going to be sitting until it I find a buyer for it.

My question is, what type of insurance should I get for my current car, that is only going to be driven by people checking the car out? Or do I need any insurance at all, or will their own insurance just roll into play when they are checking it out and test driving it?

I don't know if this is being over-cautious or what, but I've never been in this position so I'm not sure. It would just be the worst luck if someone is test driving it out and got into some kind of accident, then me being liable since I still own the car.

So what is the best thing to do in this situation?

 

[AstroManLuca]

You could lower the level of insurance on the car you're selling, but if you don't expect it to take more than a couple weeks I'd just keep it how it is. The amount you'd save isn't worth a potentially expensive repair just as you're trying to sell it.

 

[IdBuRnS]

Insurance follows the car, not the driver. If you are going to have people test driving your old car I would continue to keep the full coverage in case some retard drives your car into a tree.

My $0.02.

 

[Ferzerp]

You probably don't even have to notify your insurance company beforehand anyway. Most offer a 5 day grace period or so on new purchases. Check your policy.

 

[purbeast0]

You probably don't even have to notify your insurance company beforehand anyway. Most offer a 5 day grace period or so on new purchases. Check your policy.

well it's not a brand new car, could that have anything to do with it?

i'm going to just call them up though regardless since the dealership recommended i just do it. it is kind of like what you have to do when purchasing a new house or something heh.

 

[Bignate603]

Insurance follows the car, not the driver. If you are going to have people test driving your old car I would continue to keep the full coverage in case some retard drives your car into a tree.

My $0.02.

This. The savings would be minimal and they aren't worth the risk.

Also, when you sell the car check to see if there is a "notice of sale" you can file with your state. In AZ you're supposed to file it. That way if the next owner doesn't properly transfer the title or register it you can't be held liable for anything they do.

 

[IdBuRnS]

And as others have said, you don't need to notify your insurance company first- unless they are shady There is generally some grace period. Obviously I would just call and verify what the period is first.

We have State Farm and bought our car on a Saturday. I just called them Monday morning and had them move the policy from the car we traded-in to the car we bought.

 

[purbeast0]

yea so i called my insurance company to add my new car on saturday and it goes into effect saturday. i also just kept my current car on the insurance until i get rid of it. i have 2 people who seem to be serious about purchasing it, so it probably will not be very long that i have to keep it.

 

[EagleKeeper]

If you are financing the new vehicle, they may require proof of insurance.

As to the old vehicle (assuming you have the clear title), if not driving it decide if you wish to maintain comprehensive coverage. This way is something drops and breaks glass or a hail storm comes through, etc. You actually may wish to lower the deductible for the comprehensive if it is sitting around because you do not have the liability costs
If you will be driving it; leave the existing coverage alone.