Removing a vehicle from your policy after a car accident?
I’m currently covered under my parents’ car insurance, but my car (which is registered in my name) was totaled in an accident where I wasn’t at fault. If I take the vehicle off the policy while still being listed as an insured driver, will that create a lapse in coverage? I’m planning to move out soon and get my own policy once I have a new vehicle. Will this action have any impact on my future insurance?
It’s good that you’re considering your options carefully! Removing your totaled vehicle from your parents’ policy while still being listed as an insured driver should not typically be considered a lapse in coverage, especially since you won’t be operating that particular vehicle anymore. However, it’s essential to check with your parents’ insurance provider to understand their specific policies and any implications it might have.
When you do get a new vehicle, you can apply for your own policy at that time, which usually marks a smooth transition. Just make sure to have continuous coverage during the time you’re driving, as most states have a minimum liability requirement. If you’re planning on moving out soon, consider shopping around for quotes now to find the best deal before you get the new vehicle, as rates can vary widely. Always make sure to communicate openly with your insurance agent to ensure you’re taking the right steps. Good luck!