How Soon Do You Need Insurance for a New Vehicle Purchase?

Auto insurance is difficult to understand sometimes. It’s always better to err on the side of caution and make sure you’re covered. Driving around showing off your brand new vehicle, only to get in a wreck would be a bad enough day. Finding out your vehicle isn’t insured would be an even worse day. Then get a ticket, a really really bad day!

How long do you have to get auto insurance?

So how soon after a vehicle purchase in Wyoming, do you need to get your new vehicle insured?  If you don’t already have an auto insurance policy, you’ll need one right away. If you are trading vehicles it depends on YOUR insurance policy. Some insurance providers may have a ‘grace’ period for you change over. Some may be 72hrs and others maybe 30 days. Check with whoever you are insured with. It’s a good idea to get a quote on the new vehicle you are planning purchasing anyway as the price may be very different from your current vehicle. The other advantage to doing this is that your insurance company should then have the quote handy. Thus making the transition faster and smoother for when you do get your new vehicle.

We contacted Leigh Cripe, an insurance agent for State Farm in Wyoming. Here’s what she said;

• “Most states require drivers to have auto insurance. So first, know what is required by the state and lender if you plan to finance your purchase. Contact your local insurance agent to get you started on what is required.

• If you’re at a dealership getting your very first auto and have never had an auto insurance policy, you’ll need to get coverage first to finish the deal.  Usually, you’ll need proof of insurance sent to the lender to satisfy their and state requirements before you can drive off the lot with your new auto.

• Typically you’ll need liability, collision and comprehensive coverage.

Liability helps pay for auto damage and injuries if you’re at fault. Collision pays to repair or replace your auto if you’re in an accident with another auto, hit an object, or roll your auto. Comprehensive coverage helps pay to repair or replace your auto if it’s damaged by something besides a collision, including; theft, fire, vandalism, or hitting an animal.

If you currently have auto insurance coverage on another auto, talking with your agent will help you determine what coverage is needed for your new auto”

It’s the law

Wyoming Title 31 states that, “…Proof of insurance shall be carried at all times in the insured vehicle and shall be open for inspection at all times when requested by any peace officer”.

For more information and a guide on auto insurance check out this page by the Wyoming Department of Insurance.