Insurance for finances vehicles
Asked by Kamari Jul 27, 2020 at 05:13 PM about the 2009 Mercedes-Benz M-Class ML 350 4MATIC
Question type: General
I'm curious to know if I must arrange for insurance for a
vehicle I plan on financing, before I am able to leave the lot?
The state I am purchasing the vehicle from doesn't require
insurance coverage on their vehicles.
5 Answers
Your lender will demand insurance. If you drive off the lot and total the car are you going to be able to pay for the damage? If you have existing insurance for other cars your policy should cover a new car for a day or two so that you have time to tell them about it. What state does not require auto insurance?
You are wrong. All 50 states require liability insurance.
New Hampshire. I was asking because I do have an existing policy, but I am planning on getting a new plan with a new company. The dealership is 2 hours away and I was hoping to make one trip.
Call up your insurance company and ask your rep what their policy is. You will need full coverage for a financed vehicle.
Call the insurance company and give them the description of the vehicle and the VIN. Tell them you are buying the vehicle and they'll add the vehicle to your policy right away. Hope that helps! Jim
