Changing your ride is one of those adjustments in your policy that has the potential to increase or decrease the premium considerably. When it is an impulse buy,
motorists would choose the quickest and easiest solution which is to add it onto an existing coverage. You can quickly find out how much to add a car to insurance, pay the premium difference and you start driving.
Your Options with the Existing Carrier
Often people switch vehicles either at the dealership or at a later date. In other words, you sell the old one when you get a new ride. Then, it would be a simple swap which can be done by giving the details of the recently purchased automobile. There would be a slight difference in premium either way.
Usually, companies are flexible with this. Most policies cover the new purchase for a couple of weeks automatically. After checking that they have such flexibility with your automobile insurance policy, people could drive it home and think about their options later. If you get rid of your old vehicle at that time you may not have much to worry about.
The second option is to add the new one as the second (or the third) vehicle on your policy. Most companies allow this as well. Even further, you could actually choose a different coverage for each auto in the policy. While one has just a liability only the other can have full coverage vehicle insurance. Whatever you have in your mind, just ask and see if you can get it your way.
Checking for Various Alternatives
However, adding an auto to existing auto insurance may not necessarily be the best or cheapest option available. A quick action like that could alleviate the need to spare some time and shop around for the best deals. Even if you went for a quick fix this time, you should make sure to shop around a bit when it comes to renewal.
The number one reason for people getting alternative car insurance policy quotes is changing the ride. So, those people must be onto something to feel they need to look at their options carefully. Every company reacts to each vehicle model differently based on their own assessments. And yes, they do their own tests on them as well.
Automobiles insured is one of the key factors affecting rates. When there is a significant difference between your old and new ride the premiums can be that much different as well. For example, switching your sports coupe with a minivan says a lot about you and companies listen to it.
It would suggest that you are done with your bachelor days and looking to start or already started a family and more responsible life. They love responsible people and that is why they check if you are paying your bills and keeping up well financially. Credit check is part of premium calculations.
Coverage Options to Consider
It is best to get several quotes before even considering your options. If you now have two cars, you may want to consider leaving the old one where you are and getting a new policy for the new one. You would think that including the new ride within an existing vehicle insurance policy would be cheaper and you may be right. But people have different arrangements.
For example, the new one may be for your teenage child and you may want to keep the policy for it separate. So, it may be best to decide how you would want to arrange it first. Then, you could get the ball rolling with shopping earnestly. Don’t worry about the time and complexity. These days, it is pretty easy to get a few quotes, change your requirements and go again.