New Vehicle Purchase Misconceptions
December 27, 2011 by HWP Insurance
Purchasing a vehicle can be a tedious process. There seem to be hundreds of variations in trim packages and optional upgrades to choose from, which can make the car buying experience difficult and sometimes overwhelming. Typically, consumers will automatically assume that their optional upgrades will be covered on their standard insurance policy. Dealerships (not factories) may add special features to the car after it arrives on the lot from the manufacturer. Such upgrades may consist of stereo systems, TV’s, higher quality tires, larger rims, leather seats, backup cameras, and more.
What many consumers don’t realize is that any special features added to the vehicle that are not a factory upgrade, will not automatically be covered on their policy. Coverage for upgraded features is available and can be added to the policy via an endorsement for an additional premium. Before leaving the dealership it is a good idea to verify what features (if any) were not installed by the manufacturer? Then, notify your insurance agent or carrier of the additional features.
Before you purchase a vehicle it is also a good idea to call your agent to ensure the new vehicle will have adequate coverage. Although you may have automatic coverage for newly purchased vehicles up to 30 days, the coverage you get depends on your current policy. For additional information, or if you have coverage questions please contact your Carlsbad Auto Insurance agent at 760-795-2002 or your Riverside Auto Insurance agent at 951-296-6833.
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Scott Purdy started in the insurance industry in 1978, as a life insurance agent with National Life of Vermont. Scott joined Hatter, Williams & Purdy Insurance in 1983, and has spent the balance of his career in the agency/brokerage business. In 1999, Scott assumed the principal position of HWP, and became President...
