What to Do if You Get a New Car for the Holidays

If you are fortunate enough to receive a new car for the holidays, whether it is a gift from a family member, a loving spouse, or to yourself, it's a reason to smile. Before you get behind the wheel to take it for a spin around the block, you want to make sure that you have an insurance policy on it.

Many people focus on the gift without thinking about the legalities. Before you can drive in the state of Florida, your car needs to have insurance. You need to be named on the policy, which means that you may need to spend a few minutes getting a policy before you take to the road.

Shop for Insurance

Take the time to shop for insurance. It can be done online, or you can call an agent. The most important thing is to determine the level of coverage you want. For example, do you want the basic coverage as required by the state of Florida? Do you want to have additional liability?

You also have to look at a few other things with your new car. If it was purchased outright, then there is no lienholder. However, if you (or someone else) is making payments on it, then you have to find out if there is additional coverage that is required. You might be required to have collision and/or comprehensive in place on the policy.

Get in Touch with an Agent

One of the best things you can do is get in touch with an agent, even before you give the car as a gift to someone. If you are the recipient, then you will want to touch base with an insurance agent to learn about your options. You can get a policy quickly, and know that you are getting the best deal. This is because multiple quotes will be obtained, helping you to get a comparison of rates.

While you would hope that nothing would happen to your new car during the holidays, you can never be too sure. Your innocent little spin around the block could involve a collision. If you don't have the necessary insurance, you could be financially responsible for everything – and that's not a situation you want to get yourself into.

There are going to be some variables to figure out when it comes to purchasing insurance. Much of it is going to depend on whether the new car was given to you by someone or if you got it for yourself. When you do the giving, you can plan ahead. Otherwise, you will need to make sure you have the coverage once you get the big surprise.

If you connect with an agent the moment you have the car, it will make it easier to get all that you need.