At NY Twin Bridges Insurance Agency, serving the greater Albany, NY, we encounter a lot of unique situations when it comes to auto insurance. One of the more unique situations that we are asked about is insuring an inherited car. Once the owner passes away, the person who inherits the car may be unsure how to insure it or what needs to be done. Here is some information on insuring a car that was inherited.
Insurance Coverage Ends When the Policy Owner Dies
One important thing to keep in mind is that the original car insurance policy ends the day the policy owner passes away. As such, you should never drive or move the car after this date until you obtain car insurance. Many people do not realize this and think they can keep the policy until they have time to find a new one, but this is not the case.
Titling the Car
After the owner passes away, you will want to change the title into your name, if you have inherited the car. At the same time, you will want to obtain a new insurance policy. In order to achieve this, you will likely need to explain your situation to an insurance company, letting them know why you are trying to insure a car that is not yet titled in your name. Many will give you a limited period of time, such as 30 days, to title the car in your name after obtaining insurance.
If you have inherited a car, you will need to insure that car, as coverage stops when the owner dies. Here at NY Twin Bridges Insurance Agency, serving the greater Albany, NY area, we can help you get the car insurance you need. Contact us today to discuss your needs.