Removing a vehicle from an insurance policy after an accident?
I’m currently on my parents’ car insurance policy, and my car (which is registered in my name) was totaled due to an accident where I wasn’t at fault. If I take the vehicle off the policy but remain listed as an insured driver, will that create a lapse in coverage? I’m planning to move out soon and get my own insurance policy when I acquire a new vehicle. Will making this change have any implications for me?
Removing your totaled vehicle from your parents’ policy shouldn’t be considered a lapse in coverage, especially since you’re not at fault for the accident and your car is no longer drivable. As long as you maintain your status as an insured driver on their policy, you should still have coverage.
However, keep in mind that if you’re planning to move out and get your own policy, you should inform your parents’ insurance company about the change. It’s a good idea to discuss your plans with your parents and ensure everyone is on the same page.
When you eventually get a new vehicle, you can apply for your own policy. Make sure to shop around and compare quotes to find the best coverage for your needs. If you need more guidance, it could be helpful to speak with an insurance agent.