Trading in a car
If you are replacing your vehicle (trading one in for another, as an example) we will process this as one transaction on your policy – by simply substituting one vehicle for another – provided the date you want to add your new vehicle is the same as the date you want to remove your old vehicle.
What we need*:
- VIN number
- Make and model of your car (i.e. Civic LX, Si, etc.)
- Purchase date and price
- Name and address of the lienholder or lessor
- E-mail/fax number where binder letter & pink slips can be sent
Will your premium change?
Many factors determine auto insurance premiums, including the type of car you drive, the use of the car, the claims and conviction history of the driver, and your postal code. To get a sense of how your new vehicle will impact your premium, you can complete an online quote. If you’re just starting to shop around, you can get multiple quotes for all the vehicles you’re considering. We’ll inform you of any changes to your premium once your policy is updated.
Why do we ask about other drivers?
We want to make sure your information is up-to-date. For example, if other drivers have access to your car, they may need to be on your policy. New drivers can build their own insurance experience – an important factor in insurability – by being listed as a secondary driver.
Why do we ask about customizations or modifications?
We want to make sure you’re properly covered and that you receive the maximum payout available in the event of a claim. If we are unaware of customizations (i.e. an aftermarket paint job) or modifications (i.e. a wheelchair lift), your policy would only reflect a standard model, and in the event of a loss, the claim payout would not reflect the cost of the upgrades.
Why do we ask about pre-existing damage?
Our records should be updated with this information to avoid any disputes during the claims process. If pre-existing damage is not disclosed, it can slow down the process while insurance adjusters investigate how much damage was sustained in the loss and how much existed prior to the accident.
*Changes effective upon confirmation of broker