After selling your car, the last thing you want to do is pay for auto insurance on a vehicle that you just sold and is no longer yours. In addition, you don’t want to be involved or legally responsible in the event that the buyer gets in an auto accident before they’ve had the chance to get down to the DMV to get the car changed over to his or her name.
You want to make sure that you give your insurance company a call and let them know that you’ll be selling your vehicle in the next week (or whatever the timeframe is). This just gives them a heads-up. On the date that you actually sell your vehicle, you can call your insurance company and let them the know the vehicle has been officially sold. Depending on the company, you may need to provide them with proof that you sold your vehicle, such as a Bill of Sale.
One thing that you do not want to do is to just stop paying your insurance premium and let the policy be cancelled on its own. This could hurt your credit score and possibly cause you to have a lapse of coverage. It only takes a few minutes to give your insurance company a call to let them you’ve sold your vehicle and you need to cancel insurance on that automobile.
If you’re in need of California auto insurance or would like to see how we can save you money on your premium, contact us at Lou Aggetta Insurance in Pleasant Hill and get a quote today!