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.