Selling your vehicle in Dallas, Texas can bring up a variety of concerns regarding your auto insurance policy. Depending on the situation and your current plan, the impact on your policy may vary. Before you sell your car, determine the potential impact on your current policy.
A Single Car
If the vehicle that you are selling is the only car that you own, then the impact on your policy is that you will ultimately cancel the plan. When you do not have a car, it is not necessary to maintain coverage.
Even though it may be necessary to cancel the coverage, using the funds to purchase a new vehicle can mean that you need to maintain the plan and make appropriate adjustments after you purchase the new vehicle. Do not cancel until you are sure that you will no longer have a vehicle.
Owning several vehicles may mean that you need to contact your insurer and inform them of the sale. The vehicle that you sold may be removed from your current plan, but your policy is not canceled because the other cars on the plan still need coverage.
Selling a vehicle when you have several cars can mean that your insurance premium will reduce slightly, but only the car that you sold is removed from the current plan and your policy is still protecting any other cars that you own.
The impact on your auto coverage depends on the situation and the number of vehicles that are protected by the same plan. When you own only one vehicle, your current plan may be canceled. If you own several cars, then you may remove the vehicle from the plan after it is sold. Contact Strack Insurance Services to talk to an independent agent for more information.
The process of finding the right auto policy for your vehicle in Arlington, Texas starts with understanding your options. A variety of plans are available based on your specific concerns, goals and preferences. The best type of coverage for your needs can vary, so it is important to recognize the types that are available.
Minimum State Coverage
The minimum state coverage is the plan that is required by the state. It provides basic personal injury protection and liability protection so that other drivers do not face financial strife when you cause an accident.
Standards that are set by the state form the foundation that you need to build on, but it is only one type of coverage.
Collision protection is a type of policy that focuses on the damages to your vehicle when you get into an accident. The protection may or may not be included in different insurance policies, so you may need to add to the basic plan that you purchase to ensure that you vehicle will not have high-cost repair costs if another driver is under-insured or uninsured.
A comprehensive policy includes the basic requirements for liability as well as additional protection for unexpected problems. It protects your vehicle from damages that are related to storms, falling tree branches or theft. It may or may not include collision protection, depending on the insurer and the specific policy that you select.
Protecting your vehicle from problems requires an insurance policy that addresses your concerns, goals and preferences. Although you are only required to carry the minimum coverage set by the state, it is possible to add to the policy for additional protection. Contact Strack Insurance Services to speak with an independent agent for more details.