Posted: 12/13/2006 12:28:43 PM EDT
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Ok, I'll be buying my first car in a few days. I've gotten a price quote from USAA and I am happy with it. Question is: Lets say I buy the vehicle. What is my next option? Will I be able to take it home theat night or will I have to go home and put my info into the USAA site and go in the next day to the dealership, present my proof of insurance and be good to go? As you can probably tell, im pretty young and inexperienced on how the whole care buying experience goes. Thanks for your input in advance. |
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Well since I'm the resident independent insurance agent I guess i'll field this question: Do you have a current auto policy? If so, then yes you can take the car home and the insurance will transfer to the new vehicle automatically. Contact your agent to swtich cars on the policy. This is one of those times you need a local agent. Not bashing USAA but their rates stink and hope you never have a claim, because it's not always fun dealing with somebody out of state. Shop around(rant aside) If you do not have a current policy then no, the minute you drive off the lot you have no coverage. The dealership will no longer cover the vehicle because they no longer own it. it's your. One option would be to try to call USAA (if you still want to go through them) from the dealership and have coverage "bound" before you leave. |
I've got insurance through my mom on a 98 malibu. I got really great rates through USAA , beat geico by 300bucks. I'm in the Guard so I get a decent discount. So, basically,my question is: I've got a good idea on the vehicle I want. Bu, obviously, I can't insure it before I buy it so I don't see how I can take it off the lot if I dont have insurance. I'm guessing that I buy it, submit my paperwork via internet to USAA and go pick the vehicle up the next day with POI? |
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I used USAA for years, and on several occasions bought a car, called them from the dealership and had a coverage on the spot. Everytime I had to deal with them they were professional and fair. Of course I haven't used them in years, a while back they made some major corporate changes, and I had to bail, my insurance rates went from $1200 a year to over three grand a year, and that was covering a 0 point driver and a 3 point driver with a single wreck in three years, the car was a Dodge Neon. My father got a case of the ass with them about the same time and used another company for a few years, his rates went way up AFTER his last child moved out and was dropped from the policy, but he is with them again. All together my father has used USAA for thirty years. Like I said, I never had a problem with a claim with USAA, when I had one they paid in about a week. I made a third party claim with Acceptance insurance this fall and it took over sixty days to get a property damage claim paid, the injury claim is still pending after four months after the accident, two months after being released from treatment. ETA: In my experience with USAA once you call and get a quote for the vehicle all you have to do is call back and tell them you are buying the car and want thier policy. Ten years ago they didn't even require a down payment or anything like that, you got a bill with your payment options a couple of weeks later, and they would fax you a temp insurance card. Things may have changed since then though. |
Yes, I know I am slow, but im 19 and this is the first car im buying. Please forgive me If I dont follow everything posted. P-38, I'm going to call USAA tomorrow and figure it out |
He's absolutely correct. May have to get the agent to meet you at the dealership. Don't know if it applies, but if your parents are still responsible for you, why not get added to their policy to buy the car, and then go out on your own later? If you are adding it to an existing policy, you typically have 30 days to call the insurance company after the purchase (but you really ought to call them ASAP), but again, this only works for adding/changing cars on existing policies. YMMV ETA: You cannot insure what you do not have a financial interest in. In other words, you cannot insure a car that you have not yet bought. But then again, more often than not, you can't take the car (and always, if there's a loan against it) unless you have insurance. The folks who are financing the car are the ones demanding that you insure it (regardless of any state laws), or at least prove financial responsibility (posting a bond, having so much net worth, etc.) You tear up the car, since they are carrying the note on it, they own it (unless you've paid it off), and they want their money back, as they are the ultimately the ones with the financial interest in the car. |
He's absolutely correct. May have to get the agent to meet you at the dealership. Don't know if it applies, but if your parents are still responsible for you, why not get added to their policy to buy the car, and then go out on your own later? If you are adding it to an existing policy, you typically have 30 days to call the insurance company after the purchase (but you really ought to call them ASAP), but again, this only works for adding/changing cars on existing policies. YMMV Correct. However, each company is different some only allow 7 days to notify the comapany of an auto change. If you are on your parents policy still, you may want to check with the company, but here in Iowa the name on the title must match the name of insureds on the policy. For example, if you are still on your parent policy you cannot buy a car and title and license it in your name and not be a named insured, not a driver, a named insured on your parents policy. They do this in order to prevent fraud. If not, then anybody could put any vehicle on anybody's policy. They, your parents and named insureds (policy holders), must have an insureable interest. Since you own the car, they have no interest in the vehicle. |
| I called USAA and they told me that, since I already have a bank account with them that all I need to do is call them when I buy the vehicle. They'll run the VIN, give me the quote, which I already got via the interweb and they would fax the POI to the dealership. Sounds pretty easy. |
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I've had great success with USAA - they are a little more expensive - but on a couple of different times I have made one call after getting run into and the problem was taken care of promptly. They are a mutual insurance agency and just sent me a $100 check for this year, which makes their rates very competitive. They can and should email or fax you proof of insurance at the dealership. |
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utopia ever heard of defamation? be careful. to the question, if you know you are going to buy the car call and get the vin # from the dealership even if you don't get the vin call it in or put it in the computer for an accurate quote then when you know you are buying the car even at the dealership get on the phone or pc and upload ur policy 99% of all the companies that have online quoting will let you save it and upload it too. As for coverage any other way a loophole could and probably will be formed and a gap in coverage would/could be claimed if you had an accident |
| I just recalled something else about USAA, when I was in the Army for a while I didn't have a car, and frequently borrowed cars from buddies, who I didn't always trust to have current insurance. I called USAA and they sold me a "non owners" policy that would coverme in whatever vehicle I may have been driving no matter whether or not the owner had insurance. As I recall this policy was very inexpensive, maybe $100 a year, plus in your situation I was covered automically for thirty days if I purcahsed a vehicle. If you are financing the vehicle the dealer is going to require you to show proof that you have full coverage insurance before you leave the lot, having USAA is a good way to make sure they can't swindle you into buying some crappy policy that they sell, and once you have the car you can call around and decide if you want to get a policy from somebody else. |