I just brought a car on 4/10/13.My car was stolen on friday, I only have libility insurance did I just give my car away?

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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: Apr 22, 2013

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Insurance Question from Philadelphia, PA

Asked on 04/22/2013

I just brought a car on 4/10/13.My car was stolen on friday, I only have libility insurance did I just give my car away? will the insurance company give me anything towards another car if my car is not found?

Answer given on April 22, 2013

If you buy a car and already had a car insured, but have not advised your insurance company of the purchase, then the new car will be covered in the same manner as the previous car. This means that if you had only liability coverage on the existing car, then you will have only liability coverage on the new car until you talk to your insurance agent and decide what coverage you want on the new car.If this was a new car and new insurance, you needed to talk to your insurance agent about starting up the insurance on the new car. If you elected liability only on the car then that is the only coverage you had. You cannot go back to cover the car after there has been a loss. Unfortunately, the insurance company cannot compensate you for the loss of the vehicle if you did not purchase comprehensive coverage on the car.Whenever you buy a car you need to decide if you can afford to lose the car to theft or accident whether you have had the car for 10 days or 5 years. It is a decision you must make based on your financial situation and needs. Comprehensive insurance is relatively inexpensive and if your car is worth over $3,000 you should consider this coverage.

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