Buying a car is an exciting step, especially if you’ve been relying on non-owner insurance while you were without a vehicle. Now that you have a car of your own, you’ll need to update your insurance to reflect that change.
The good news is that you may be able to keep your existing policy rather than start over.
At Cheapest Auto Insurance, customers with an existing non-owner policy can contact their agent to request an endorsement that adds the newly purchased vehicle to their current policy, depending on the insurance company’s requirements.
Here’s how the process works and what to expect when making the switch.
How to Add a Vehicle to Your Nonfi-Owner Insurance Policy
If you currently have non-owner car insurance and recently purchased a vehicle, your coverage needs have changed. Non-owner insurance is intended for people who don’t own a vehicle, so your newly purchased car needs to be specifically added to your insurance.
Instead of starting a new policy, your agent may be able to make the change through an insurance endorsement. This allows your existing policy to be updated with the vehicle’s information and the coverage you need, depending on your insurance company’s requirements.
The process is straightforward:
1. Contact your insurance agent
Let your agent know you’ve purchased a vehicle and want to add it to your existing non-owner policy. They’ll review your current coverage and confirm how the endorsement can be processed.
2. Provide your vehicle information
Have the following details ready:
- Vehicle year, make, and model
- Vehicle Identification Number (VIN)
- Purchase date
- Name of the registered owner
- Lienholder information, if the vehicle is financed
Your agent may also need to confirm where the vehicle will be kept and who will regularly drive it.
3. Review your updated coverage
Once a vehicle is added, the policy needs to reflect the coverage required for that car.
If you purchased a paid-off vehicle, liability-only insurance may be an option. If the vehicle is financed, the lender will typically require collision and comprehensive coverage.
Your agent can review the available options and make the necessary changes based on your vehicle and insurance needs.
4. Confirm the endorsement
Before the change is finalized, review your updated premium, effective date, and vehicle information.
Once the endorsement is approved and any required payment is completed, you can receive updated insurance documents showing the vehicle and its coverage.
Will Your Insurance Rate Change After Adding a Car?
Your insurance rate may change when you add a vehicle to your existing non-owner policy, but that depends on the insurance company, the vehicle, and the coverage you select.
Since non-owner insurance already provides liability coverage, adding a vehicle doesn’t necessarily mean your rate will increase. The updated premium will depend on how your insurance company calculates the change.
Some factors that may affect your rate include:
- The vehicle’s year, make, and model
- Your driving history
- The coverage you select
- Where the vehicle is kept
- The insurance company’s rating guidelines
For example, adding a paid-off sedan with liability-only coverage may result in a different premium than adding a financed SUV that requires comprehensive and collision coverage.
Your agent can review the updated rate and explain whether any additional payment is needed before completing the endorsement, so you’ll know what to expect.
When Does Your New Vehicle’s Coverage Start?
Your vehicle’s coverage begins on the effective date confirmed by your insurance company after the endorsement is approved and any required payment is made.
Having an active non-owner policy doesn’t automatically mean your newly purchased vehicle is insured.
If you’re buying a car from a dealership or private seller in Oklahoma, it’s best to contact your agent before taking the vehicle home. That gives you an opportunity to arrange the endorsement and confirm the coverage is active before driving.
Once the change is complete, review your updated proof of insurance to make sure the vehicle information and effective date are correct.
Ready to Add Your New Car to Your Policy?
If you’ve recently purchased a vehicle and already have non-owner insurance, contact your agent to update your policy. They can review your vehicle information, confirm the coverage you need, and help arrange the endorsement before you drive.