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 Posted: Tue Apr 07, 2009 7:02 am Post subject: endorsment allowed or not?? |
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| look i have a auto policy with effective date 02022009......but this month i am planning to buy a new car......should a get a new separate policy for new car...or can i have this new car added in the previous policy....also can i have same effective date for this new car |
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SuperAgent
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| Posted: Tue Apr 07, 2009 7:26 am Post subject: |
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Purchase a brand new policy for brand new car, That is better option for you.
Thanks.
Buckisaa |
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buckisaa
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| Posted: Tue Apr 07, 2009 9:01 am Post subject: |
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| but still if i want ma new car to be endorsed in the same previous policy with the same effective date......is it possible |
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SuperAgent
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| Posted: Tue Apr 07, 2009 9:36 am Post subject: |
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| No its not possible, Take new policy is better i told it before. You can get new policy for more benefits & new planes. If you taking new car why would you like to cover it by old insurance policy. |
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buckisaa
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| Posted: Tue Apr 07, 2009 10:04 am Post subject: |
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| i need some more solutions to my problem........because i think in US ...specially in AllState both these things are posasible...but still i want some expert comments...plz help |
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SuperAgent
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| Posted: Tue Apr 07, 2009 11:09 am Post subject: |
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| New policy for brand new car is better option |
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saveassolution
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| Posted: Tue Apr 07, 2009 12:02 pm Post subject: |
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| how can u say that new policy for new car is a good option...........that is what i need to know...... |
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SuperAgent
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| Posted: Tue Apr 07, 2009 1:02 pm Post subject: |
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All I can say is, huh?
You simply add the new vehicle to your existing policy. You should not have two auto policies just because you have more then one vehicle. Auto policies _have_ to be written with liability coverage. There is a premium charged for this coverage. Why would you want to pay for the same liability coverage under two policies? That makes no sense whatsoever. There might be other coverage mandated by the state that would be duplicated as well.
You ask about getting a new car _this_ month and back dating coverage to 2/2/09. You can't do this and there is no reason that you should want to... given this information. Why would you want to cover a car when you never owned it? You can't do that as you had no insurable interest in the vehicle prior to owning it. The only other reason is to assume some type of past risk which the insurance company is not going to do.
| Quote: | | You can get new policy for more benefits & new planes. |
There are no new 'benefits" to be had just because its a new policy and no "planes" are offered when buying a new insurance policy (at lease not to my knowledge). Any coverage the OP wants to obtain can simply be added to the existing policy. |
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tcope
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| Posted: Tue Apr 07, 2009 2:42 pm Post subject: |
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Hi..
| Quote: | | The only other reason is to assume some type of past risk which the insurance company is not going to do. |
That's my reason to believe that the OP has more to share with us than he's already done. More info would help throw some light into it!
| Quote: | | Why would you want to pay for the same liability coverage under two policies? |
I guess someone would only choose to do it if he's not satisfied with his carrier's services under specific grounds.
Roddick |
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roddick
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| Posted: Tue Apr 07, 2009 8:46 pm Post subject: |
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Super Agent,
Your company will not add your car effective 2/2/09, whether you take out a new policy or endorse your old policy. You cannot purchase insurance for a past period.
You might be able to go back a few days, however. Your insurable interest (and your responsibility if you have an accident) begin on the time and date that you purchase the car. Most companies recognize that if you buy a car on the weekend, and your agent's office is closed, you still need coverage from the time and date that you purchase the car. Thus, most companies will give you a few days to add your car after your purchase it. This ranges from 4 days to 30 days, depending on your company. (Contact your agent to find out the details for your company. We have a 30-day rule, but I have gotten urgent calls on my cell phone on Sunday afternoon saying, "I am buying a new car, and I need to add it to my policy NOW!")
For example, if you purchased the car on April 1, and today is April 7, and your company has a 30-day rule, then you can call your agent and have him add the car effective April 1. This will satisfy your lien holder, and it can also cover you if you had an accident on April 4. It is one of the few cases where you can backdate your coverage to cover an accident that has already happened. I do not believe that ANY company will go back two months to 2/2/09, however.
TCope is correct that it makes more sense to endorse it onto your current policy so that you are not duplicating coverage--and most companies will give you a multi-car discount for it, making it less expensive to have one policy instead of two.
So that being said, I agree with Roddick, and I am curious why you ask if you can backdate it to 2/2/09? Why would you want to?
_________________
Christy P.
http://www.community-ins.com
http://smartce.net
Insuring Your Dreams! |
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ChristyP
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| Posted: Wed Apr 08, 2009 4:57 am Post subject: |
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| thank u all for ur answers......they'll really help me.....u have answered half my question......now the thing is that i cant tell u the whole truth...but still....look last month they increased some of the coverages....and also i met an accident so my credit score decreased....... so if i add my vehicle from todays effective date....i will hav to pay much higher premium......but if i add my vehicle in the policy with effective date 02022009.......at that time coverages were not increased also my score was good.....so u people understand why i want this to happen........also i have some personal relations with the company from where i bought my new car....so dnt worry about getting the car purchase dates changed..............Now i would also like to tell u that i am pretty sure that it is allowed in AllState insurance company......not sure about the effect of driver score...but yes Backdating is possible............but still ur comments r welcomed......... |
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SuperAgent
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| Posted: Wed Apr 08, 2009 4:58 am Post subject: |
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| Hey Christy P....tell me more about multi car discount |
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SuperAgent
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| Posted: Wed Apr 08, 2009 5:05 am Post subject: |
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First off, I gotta say that when I read the first few posts in this thread, I was getting mad and actually yelling "NO NO NO NO" at my monitor. Then tcope showed up and said:
| Quote: | | All I can say is, huh? |
Thank you, thank you , thank you.
Just add the car to the existing policy like every sane person here has said. You'll more than likely get the benefit of a multi-car discount so you'll save money.
I can only think of one reason to have the coverage backdated on the additional car, and that's to cover an uninsured loss or ticket and the insured is trying to get proof of coverage for the incident. Other than that, I'm at a loss as to why a person would voluntarily want to pay more premium than they have to.
Finally, all policies contain language that grants coverage immediately on a newly acquired or replacement vehicle. The time you have to inform the carrier of the change varies by state, but the gist is the same. For replacement vehicles, the coverage on the replacement is normally the same as was on the car it replaced. For newly acquired, sometimes called "additional" cars, coverage is granted is based on the most liberal coverage on the cars currently insured.
So, if a car in the household currently has full coverage, an additional car would as well. If the other cars in the house only have liability coverage, the new car would only have liability coverage. Look to your policy for the specific terms, as you'll definitely find differences state to state and company to company. Watch out especially if you have non-standard (high-risk) coverage, as they normally will not cover this stuff until you've reported it to them. They sometimes get different rules to play by. 
InsTeacher  |
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InsTeacher
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| Posted: Wed Apr 08, 2009 5:23 am Post subject: |
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| but my Agent told me that if my first vehicle is Full Coverage.....then my second vehicle must only have liablity coverge with excess only........is he correct...... I think i am dealing with some ametuar agent. .... i told u i cant tell u the whole truth..... but i think uv already guessed....well in all their are no. of benefits i am getting in backdating my endorsement......so is it a green signal from ur side InsTeacher |
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SuperAgent
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| Posted: Wed Apr 08, 2009 8:47 am Post subject: |
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Why you wasting your time for cover new car by old insurance policy that not impressible. I told you before that you buying brand new car so you need to cover it by your new insurance policy.
Old insurance policy have some profitable schemes. If you take new insurance policy you can take more new schemes & you can get benefit of them .
I hope you will satisfied by my post .
Thanks. |
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buckisaa
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