i am leasing a car over the weekend. i will continue to keep my existing car for a couple of months. will my current insurance cover my new car?

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Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Dec 30, 2012

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Insurance Question from Hidden Valley, CA

Asked on 12/30/2012

i am leasing a car over the weekend. i will continue to keep my existing car for a couple of months. will my current insurance cover my new car? should i wait until monday when i can talk with my agent to make sure my policy can be adapted to cover both cars ?

Answer given on January 01, 2013

If you buy or lease a new car over a weekend, your current policy will cover the new car for the same coverages that you have on your current car. If you don’t have collision or comprehensive coverage on your current car, then you won’t have it on the new car. You will have this coverage for a period of time, usually 10-20 days. Call your agent as soon as you can to get the new car covered.You should have a 24/7 phone number that you can use to call your insurnace company if you need to add coverage on the new car. These after hours services are capable of adding the coverage for you.If you are keeping the old car for over 30 days, you will need to insure it separately, so you will have an additional premium due. By having two cars, you will have a multi car discount until you sell the car, but once it is gone, the premium for your new car will go up if you then only have one car. Be prepared for the changes in the insurance costs. Also, the new car will probably be more expensive to insure since it is newer.

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