Considering removing a vehicle from an insurance policy after a car accident?
I’m currently on my parents’ car insurance policy, and my car (which is registered in my name) was recently totaled in an accident where I wasn’t at fault. If I remove the vehicle from the policy but remain listed as an insured driver, would that be seen as a lapse in coverage? I’m planning to move out soon and intend to get my own policy when I purchase a new car. Would this decision have any impact on that process?
Removing your totaled vehicle from your parents’ insurance policy should not create a lapse in coverage, especially since you were not at fault in the accident. However, it’s important to keep yourself listed as an insured driver on the policy until you secure your new vehicle and a new insurance policy.
When you remove the vehicle from the policy, make sure to communicate with your parents and your insurance company to clarify any implications. It’s also wise to keep a record of when you plan to get your new vehicle and secure your own insurance to ensure continuous coverage. Once you purchase a new car, you can directly transition to your own policy without any gaps. Just make sure to follow any specific guidelines your insurance company may have regarding changes to the policy.