New Year, New Car?

New Year, New Car?

| January 18, 2021

Happy first month of 2021! It’s hard to believe that the holidays are already over and we are nearing the last half of January.As we move into a new year, it’s normal for us to start thinking about goals we have for our careers, finances, and other important life things.

Is getting a new vehicle on your to do list for 2021? Before you purchase a new vehicle, it’s important to know how this purchase can affect your insurance rates and coverage and what to do to make sure you get the new vehicle on your policy.

If you buy a car and want to add it to your policy, notify your insurance company. Typically, you can have up to three or four vehicles on the same policy. Have this information ready when you contact your insurer:

  • Your name and your policy number
  • Make, model, and year of the vehicle you’re adding to your insurance
  • Vehicle identification number (VIN).
  • The name, date of birth, and driver’s license numbers of other drivers you want to add to your policy.

Once you add your vehicle to the policy, you will need to select what coverages you would like. In Ohio, liability insurance is a legal necessity. You should also consider adding the optional coverages of comprehensive and collision insurance depending on the age of your car. If the car is financed, your lender will likely require you carry both. Collision pays, up to the cash value of the car, for damage to your vehicle and comprehensive pays for damage from flooding, fire, hail and vandalism, and for theft.  This is a good conversation to have with your local, independent agent.

Your insurance agent will be able to help you determine the best coverages for your new vehicle for the best rates. If you see a new vehicle in your new distant feature, we can help you add it to your policy and select the proper coverages! Contact us today!