Okay, thanks to all who have been viewing these threads and especially to those who have participated. I think the last couple have been too tough so I'm going to make tonight's version a little easier by giving you a couple of yes/no questions.


1. You have one car insured with All Farm Insurance Company. You have full coverage on that car. You buy a new car on October 1st. On October 8th, you are driving your new car when you collide with a concrete pole. Oops, you realize you forgot to call your agent to tell him about the new car. Do you have coverage for this accident ?



2. You are getting into your vehicle (the one with full coverage with All Farm) when a gust of wind blows your door shut on your hand. You have a fractured finger. Your key was not in the ignition nor were you yet sitting in the vehicle. Do you have coverage for this injury ?

 

OK, I'll go first....

1. Yes. I have 10 days to get my insurance coverage moved to the new vehicle.

2. No. I wasn't involved in an accident.

 

Actually,

1. is by state statute and may vary from state to state. Consult your state's insurance code.

2. only if your coverage is health insurance.

 

Then your answer is "no" because the question, through implication, is asking about coverage from your auto policy.

 

1 Yes. But usually you need to have the insurance to take the car off the lot when you buy it.

2 Yes. It's an accident, like slippin on the ice outside your car. But if you have a claim on a fractured finger I think you may get laughed at.

 

I'm going to say... yes and no.

 

Trust me, I've seen MANY situations where people did not have insurance when they drove off the lot. Depends on your State, too, of course.

And slipping on the ice outside your car ? If someone else slips on ice on your property, you might have a liability issue on your homeowner's policy. But if you slip on your own property "outside" you car, sorry... you better have health insurance because you can't be liable to yourself and you surely don't have an auto claim.

 

I had an expired card (by a week) and they let me drive mine off the lot! Of course, I had to leave my ex behind as collateral that I would return with the new card.... I wonder how he is doing???

 

Your ex ? You should have totaled the car just to see what they would have done with your "collateral".

 

The last two auto policies we have had (in MD) allow for a 30-day automatic binder for any additional vehicle, or for a vehicle that replaces an existing vehicle on the policy, provided that all of your owned vehices are covered by the same carrier. That's one potential downside to having one or a few specialty vehicles insured under an "antique/specialty" policy that is separate from your primary policy, and issued by a different carrier. You may get a better rate and/or coverage on the specialty policy, but having your fleet of vehicles split between multiple carriers exempts you from that automatic 30-day grace period. (I believe the 30-day period may be mandated by regulation. I suspect this is based on the assumption that "if all of an insured's vehicles are covered by one carrier, that the insured would normally opt to insure any additional vehicle(s) with the same carrier.")



This also is dependent upon state regulation and policy terms. In MD, policyholders must be offered no-fault PIP (person injury protection) coverage for their insured vehicles. The minimum limit for this coverage is $2500.00, but the coverage may be waived by the insured at the time the policy is purchased. Covered persons are any person "on, in, getting into or out of" a covered vehicle. The fractured finger would be covered under the terms of such coverage.

 

Woo Hoo! One I can actually guess at. Didn't know all the mumbo jumbo talk in the last and had too much going on to look at my policy, still liked the question and answer though, informative at the least Keep them coming...

1. Yes, I thought it was 30 days, but appears to be different depending on your location, but I would assume there is some length of time required everywhere (I'm guessing 10 days minimum now that you gave us 8 here?)

2.Yes, no reasoning, just my guess. Although I don't think it should be

 

I'm certain that the answer to 1) is "yes", and I'm going to go with my gut and say "no" for 2).

 

Yes in CA for #1. Something through dealerships perhaps, or if you are already covered for another car it automatically extends to your new car.

Guessing yes for #2, even though I'd feel like an idiot trying to claim it!

 

Yes to 1, no to 2. But I've always given my insurance agent a head-up in advance whenever I buy a new car though.

 

Okay, the answers to last evenings What Do You Know.

1. This situation is specific to your State Regulations and individual Insurance Company guidelines (FYI... insurance companies can stray from State insurance regs but only when it benifits the policyholders). But typically, auto policies give you a grace period to report an added car. The timeframe for reporting varies from 10 to 30 days. That's why I picked less than 10 days for the question.

So, YES, you will have coverage for this accident. But get out your policy and see how long you specifically have to report an added car.

And by the way, whatever coverage you have on your existing policy, that coverage applies to your new car. So if you have an old car with no physical damage coverages, report the new car IMMEDIATELY.

And another note (sorry, I know this is getting long-winded)... if you have more than one active policy when you buy a new car, the policy with the most benefit to you will be the one that applies should you be involved in an accident in the newly acquired car.

2. indygomini was right on the money on this one as well. Yes, this is a valid PIP (Personal Injury Protection) claim. As he stated, you are covered for a claim if your are in your car, on your car, entering your car, or exiting your car. And most states do have PIP or Medical Payments coverage that would apply in this loss. And in most states, that coverage is automatic unless you sign a waiver saying you don't want it.

Please keep in mind that my questions are generic in nature and may not apply in all states. State insurance rules vary so widely that I can't possibly make questions that apply to all.

 

Hey, indygomini... you live in the same city where I work. I'm thinking... hmmmmmm..... do we work together ? You know your insurance policy !

 

Hello fellow daytime Fredneck!


I currently work in NoVA, but we're out and about a lot on the weekends, even though lately we haven't been able to get the mini out much (he's currently on the lift w/ half the exhaust and the shifter out.)

'fess-up time- I had a ringer's advantage on question#7. I used to work in the industry, so I had a bit of training on the generic vagaries that apply to policies sold here.