What You Should Know When Shopping for a New Vehicle

February 13, 2013 at 9:01 AM | Posted in Auto, Insurance Policy, Personal Insurance | Leave a comment
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If you plan on shopping for a vehicle this President’s Day weekend, here are some things you should know:

  • Loan/Lease Gap Coverage pays the total due on a vehicle loan or lease in the event of a total loss even if the actual cash value is less than the loan balance. This coverage can usually be added to your auto policy for less than $25 a year. If you purchase this coverage through a dealer, they may charge you hundreds of dollars.
  • If you are transferring your plate from your old vehicle to your newly purchased vehicle, make sure you sign the title of the new vehicle before you attach your plates to it. If the title is not available for you to sign, you should not attach your plates to the new vehicle.
  • You have 7 days from the date you sign the title to get the new vehicle registered. Once it is registered, you have 7 days to get a state inspection and updated sticker.
  • Please be sure you contact us to make us aware of your new purchase. For your protection, we will not process paperwork until you confirm the actual purchase or lease. At that time we will discuss the desired coverage for your new vehicle and update the drivers on the policy, if necessary.

If you have any questions regarding the car buying process or coverage available to you, call Protector Group at 888-850-9400 – we are here to help


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