Can I Buy Car Insurance Before Buying a Car?

Posted on: Jan 8, 2024 | | Written by:

Can I Buy Car Insurance Before Buying a Car?

Published on December 20, 2023. EST READ TIME: 3 mins

Getting car insurance is mandatory as it is a legal necessity. The fact is that driving a vehicle without insurance can not only cost you thousands in challan, but if your vehicle is stolen or gets damaged in an accident, you will have to bear the loss from your pocket. Getting comprehensive insurance for your car prevents both cases from happening.

Getting Car Insurance Before Buying a Car: Is it Possible?

As said earlier, buying car insurance before buying a car is not an option. Once you have finalised the car you want to purchase, you should consider buying insurance online, instead of buying it from the same showroom. This is the best approach, especially if you are buying a new car. The reason is that showrooms will generally sell you insurance at wildly inflated prices. On the other hand, online purchase of car insurance will save you a lot of money. Moreover, the car dealer will not choose an insurance company or policy that best meets your requirements. They will look at which policy earns them the most profit, or at least is the most convenient for the sales agent.

How to Insure a Car Before You Buy It?

Buying car insurance online for a new car instead of from a showroom may seem very daunting. Car dealers will only try to make things difficult for you. Once you have decided which specific car you want to buy, go do a pre-delivery inspection of the car to see that all is good with it. Now ask the car dealer to give you the exact details about the make and model of the car as well as its engine and chassis number. You can then buy the car and at the same time purchase insurance online with these details.

How to Get Insurance Before Buying Used Cars

If you are buying a used car, again you have to wait till you have purchased the car. You get the option of transferring the insurance from the previous owner to your name. It may be possible,if the policy has been renewed fairly recently. Otherwise, you can get insurance once the vehicle registration has been transferred to you.

Conclusion

Buying a car policy before buying a car is not possible. So, your only choice is to explore the possibility of buying new car insurance online instead of from a dealer.

Disclaimer: The above information is for illustrative purposes only. For more details, please refer to the policy wordings and prospectus before concluding the sales.

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