The question should really be 'Should I purchase a car without automobile insurance'- and the answer is 'No'. Car insurance is not only required by law- but also a necessity when it comes to protecting your financial investments.
First, if you are financing or leasing a car your lender will typically require you to register and insure the vehicle before you drive it off the lot. However, if the car is not financed or leased, you technically would be able to purchase the car without insuring it immediately. However, before you operate that motor vehicle, or register it, you are required by law to carry auto insurance.
A common mistake that new car owners make is they go pick out their new car, pay for it and then drive it off the lot before insuring the vehicle. However, if an accident were to occur, even just on the way home from the dealership or used car lot, you would typically not be covered. That's why it is always important to get the vehicle listed on your car insurance policy BEFORE pulling away from the curb for the first time.
The other issue is that in order to legally register a car in most states you are required to present proof of insurance. So, if you are driving a new car without insurance- you are most likely driving it unregistered- which is another big time traffic violation (hint-hint-expensive ticket!) if you get pulled over.
Now, let's say you came into possession of a vehicle and really had no intentions of driving it. This happens occasionally when a driver inherits a car or if someone purchases a vintage car that they plan on refurbishing in their garage before driving it. While you may not be operating the vehicle, you still should have auto insurance coverage as your vehicle is still at risk for damages and/or theft. Most homeowners insurance policies will not cover damages to your vehicle even if it is enclosed in your garage.
Have other questions about auto insurance or how to get started? Want to speak with one of our licensed agents? Give us a call at 1-877-506-9466 and let us get started on your quote today!
