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Old 05-18-2017, 04:55 PM
 
3 posts, read 3,335 times
Reputation: 10

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Hey folks! I have a question basically about buying car insurance while simultaneously buying my first car.

I only recently got my driver's license somewhat late in the game (I'm 23) and am planning to buy a car in the next couple of weeks. I'm not exactly sure how to go about buying insurance - I can't drive the car home without insurance but I can't buy insurance before I know what car I've bought. How is this normally done? Does one buy the car and then buy insurance on the spot at the dealership? Buy non-ownership insurance and then transfer it once you buy a car? Does it make sense/is it possible for my parents to temporarily put the car in one of their names, under their insurance, and then transfer it to my name and insurance later? Any advice for finding the right insurance in such a situation? I'm totally new to this, so any help would be very much appreciated. Thanks so much!
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Old 05-18-2017, 05:06 PM
 
Location: Earth
797 posts, read 584,104 times
Reputation: 797
You get quotes before on the vehicle .You can get a general quote but with the vin is the best bet.
Honestly at 23,newly licensed I would ask if your parents if they can just insure under their names to save you money.
But if financing the dealer/bank will need the car insured under that Vin before it drives off the lot with a new owner.
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Old 05-18-2017, 05:09 PM
 
Location: The Triad (NC)
31,826 posts, read 72,901,760 times
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Quote:
Originally Posted by sss1927 View Post

I only recently got my driver's license ...
You shouldn't be buying a car that needs insurance.
Well, not beyond legal minimums for liability.

And NO (NO!!!!) you don't buy insurance anywhere but through an agent.
if you don't hav one... ask a friend.
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Old 05-18-2017, 05:14 PM
 
3 posts, read 3,335 times
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Quote:
Originally Posted by wellshii View Post
You get quotes before on the vehicle .You can get a general quote but with the vin is the best bet.
Honestly at 23,newly licensed I would ask if your parents if they can just insure under their names to save you money.
I looked into insuring it under my parents' name, but they live in a different state, not to mention a different address - that makes it impossible doesn't it?

Quote:
You shouldn't be buying a car that needs insurance.
Well, not beyond legal minimums for liability.
I haven't heard that before - why is that? Thanks!
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Old 05-18-2017, 05:21 PM
 
Location: Earth
797 posts, read 584,104 times
Reputation: 797
Quote:
Originally Posted by sss1927 View Post
I looked into insuring it under my parents' name, but they live in a different state, not to mention a different address - that makes it impossible doesn't it?


I haven't heard that before - why is that? Thanks!
Impossible no.
Most states require insurance where it is registered.If you get registered where you insure it,
then that can pass.
So your parents bought a car,register it with their address,then perhaps have you as driver.Ended up giving you the car. Still be cheaper that way(depending on the rates of where they live)
Keep in mind if your pulled over,might have some explaining to do.
Are you a student?
Out-of-State Car Insurance: Everything You Need to Know
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Old 05-18-2017, 05:47 PM
 
3 posts, read 3,335 times
Reputation: 10
Quote:
Originally Posted by wellshii View Post
Impossible no.
Most states require insurance where it is registered.If you get registered where you insure it,
then that can pass.
So your parents bought a car,register it with their address,then perhaps have you as driver.Ended up giving you the car. Still be cheaper that way(depending on the rates of where they live)
Keep in mind if your pulled over,might have some explaining to do.
Are you a student?
[url=http://blog.esurance.com/out-of-state-car-insurance-everything-you-need-to-know/]Out-of-State Car Insurance: Everything You Need to Know[/url]
I will be a student, in the Fall. I'll be using the car mostly commuting to and from school, but again, I won't be living anywhere near my parents' home. I'll also be buying the car
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Old 05-19-2017, 05:46 AM
 
Location: Texas
2,405 posts, read 6,597,346 times
Reputation: 1736
They can put it under their name and carry the insurance.. but they will have to put you on the insurance as a driver. Should they fail to do so and the insurance company determines that you had the vehicle for a period time it could disqualify the coverage for that vehicle. If you are in college and plan on moving back to your home it is perfectly legal to be on their insurance policy back at home as you are a student in college.
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Old 05-19-2017, 11:26 AM
 
Location: Vermont
11,211 posts, read 12,816,283 times
Reputation: 16822
Quote:
You shouldn't be buying a car that needs insurance.
Well, not beyond legal minimums for liability.

Quote:
Originally Posted by sss1927 View Post
I haven't heard that before - why is that? Thanks!
The point the poster is making is that since you're a very inexperienced driver the smartest thing for you to do is to buy a car that is cheap enough that it isn't worth buying collision coverage for it. Also, because any bank that is financing the vehicle will require you to have collision on it they are also saying that you should be paying cash, not financing anything.


I'm not sure that I agree, but I believe that is the point that is being made.
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Old 05-21-2017, 05:13 AM
 
2,204 posts, read 1,573,922 times
Reputation: 5074
The great thing about car insurance is that it is refundable on a daily rate. So even if you buy a 6 month policy and pay it all up front, you can cancel it a week later and get a refund for 5 months and 3 weeks. I use this to my advantage when buying cars-

Some companies have great rates but terrible customer service, and some are exactly the opposite. Take Progressive, for example- their website is so easy to use that you can be insured in about 10 minutes all from your mobile device while sitting in a dealership. Will it be the best price? Maybe, maybe not, but you can shop for better rates a week later and change your insurance company then. This makes your car transaction easy, and takes the pressure off of finding the best rate on short notice.

To the point about agents- I disagree. The true answer is "it depends". I've had Progressive (no agent), then Allstate (with an agent), and now have Geico (no agent). When I shop for insurance, I get quotes online and from agents and ultimately go with the best value. Sometimes agents win, sometimes websites win.

Here is the weird thing about insurance- the company that is cheapest for others may be wildly expensive for you. I've received quotes from companies like State Farm and they wanted over $3,000 per year for the same coverage that I ultimately got from Geico for $1,350 a year. But then once you change zip codes, the rates are different and State Farm could be the cheapest.

It's a time consuming process but totally worth it to shop around. Using an independent agent saves time since they shop multiple companies at once, but also use some direct agents (like an Allstate agent), and use Geico/Progressive/eSurance websites. You never know which will be cheapest. In my last search the website beat two independent agents, two direct agents, and two other websites.
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