There are instances when you need to get a car insurance policy that will take effect on the same day. For example, if you just bought a car and want to drive it out of the lot right away, you will need to purchase insurance for it. Most states have a minimum coverage requirement for you to drive a vehicle.
Before purchasing, here is everything you need to know about same-day insurance.
How Long is the Process for a Same-Day Insurance Application?
Most insurance companies would like their policies to take effect immediately. The problem is that certain complications can get in the way, like customizing policies to meet your needs. Smaller companies can take a few days to deliver this.
Well-known insurance companies can get their standard policy ready on the same day you purchase it. That allows you to get coverage on the day you buy your car.
The timeline is dependent on the personal preference and choices of the customer. If you need standard insurance, you can get it upon payment. But if you need additional coverage or work with a smaller company, it can take a few more days.
Can I Apply for Same-Day Insurance?
If you have all the requirements prepared, you can apply for same-day insurance and get approved. Most companies put the policy into force upon purchase. The process can take a few hours, but it can usually be settled within the day.
Complicated policies can take additional time. If your priority is getting the insurance now, you can ask the agent about your options. You may have to drop some things, but at least you will get active insurance coverage now.
What are the Requirements for Online Insurance?
Another factor in acquiring same-day insurance is your requirements. The provider can get the process going, but you need to be ready with your information.
The information you give will play a factor in the price of the policy you are applying for. They will also use your credit score and background in the computation.
When you plan to apply for same-day insurance, you need to prepare the following:
- Provide your complete name as the primary driver. If other people are allowed to drive the same car, you need to give them their names.
- Provide the license of all listed drivers.
- Provide the social security number of all listed drivers.
- Provide the occupation information of all listed drivers.
- The average commuting distance the car is driven for.
- Provide your current and legal mailing address with proof.
- Provide the complete details of the car you want to be insured, including the make, model, brand, and Vehicle Identification Number.
- The purchase date of the vehicle and the current mileage.
- Your credit card number.
- Provide the information on other current car insurance policies you have.
If you have other car insurance policies, getting them from the same provider is good. The process becomes faster, but you can also ask for bundle discounts, which can work for other types of insurance.
Common Problems in Same-Day Insurance Application
There are instances where an insurance company will not be able to give you coverage right away. The most common reason is they are missing information required to decide on the rate they will offer the policy to you.
A good example is for those who recently moved. Your government identification may not reflect your new address yet, which means the company will not sell the policy.
In other cases, the insurance company needs more time to assess the current situation to set an approved coverage. Below are some common challenges facing same-day insurance applications:
- Insuring a high-value, rare, or classic car.
- You recently had multiple traffic violations.
- You were recently involved in an at-fault accident.
- You are missing other information in your application.
If they cannot get you a policy immediately, try calling them to know what the problem is and how you can help sort it out.
Tips on Getting the Best Price for Same-Day Insurance
Car insurance companies offer discounts. Ask your agent about this. The bundled policies mentioned earlier are a good example, and another is the excellent driver discount specific for those who have a clean record.
If you plan to buy a new car, consider the model. Specific vehicles are more expensive to insure, and do your part by researching which ones have a good safety record. Insurance companies like those vehicles and provide better quotes.
You can get Same-day insurance to cover your driving from day one. But you should get the first one you see. Do some research and check a few providers. That way, you can get the best deal.
