I just bought a new car and I'm unsure of the process of changing insurance policies between my old car and the new one. Do I need to cancel my old insurance policy first?
Aug 1, 2016Austin, TX
Aug 1, 2016
If you have an existing insurance policy and are buying a new car, all you need to do is contact your current carrier and swap your old vehicle for the new one. This is a fairly normal process for insurance companies since people buy new vehicles all the time. If you happened to be unhappy with the rate that your existing insurance provider quoted for that new vehicle then you might consider switching to a new company. If you find a lower rate and want to switch, you should only cancel the old policy after the new one is purchased. This will help you avoid a lapse in coverage and potentially higher rates. Enjoy the new vehicle and best of luck!