Q: I bought a new car a week ago, but I didn't want to call my insurance company yet, since I know my premium will go up. How long can I wait?
A: Do not wait. We're not kidding about this. Some auto insurance policies limit automatic coverage for a new or replacement vehicle to 14 days after purchase. Some others allow up to 30 days.
Here's why it's not worth the risk: If you wreck your new car and your claim is denied, you'll be out a lot more money than you saved on the premium.
The upshot: immediately contact your agent or insurer to add the vehicle and update your coverage.
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