I thought I would ask you guys while I wait for for my insurance agent to figure this out. Dealership is being very vague with their answers.
I bought a used car out of state, and I am trading in my car. Paperwork signed, money transfered with the exception of trade in value. It is going to take 10 or so days for my trade in to arrive there and then they need to inspect it, get title, and release the used car to me.
In the meanwhile, should I have both cars on my insurance? Or do I not need insurance on the car I am getting until it leaves their lot?
I am confused on who is liable if there is a tornado, hail storm, etc…
You don’t beleive insurance might question this because I don’t have possession yet?
Normally I wouldn’t think insurance would care, the caveat here being it’s an expensive vehicle which needs collectors insurance like grundy or Hagerty.
Having your own insurance for those 10 days is cheap optionality.
If something happens on the seller’s watch and they don’t step up, it might be cheaper to go through your insurance to go after them vs getting a lawyer.
Thanks, my initial worry wasn’t the cost, but more if insurance would even cover it, if it’s not in my possession.
There are so many clauses on how much you can drive the car and in what capacity, when you do have possession on my current Grundy policy. I was worried Grundy wouldn’t want to touch it if someone else has possession of it.
