Can I Transfer My Current Insurance Policy To A New Car?

Your current policy will cover your new car as soon as you drive it off the lot. And it will typically continue to provide coverage for the first month after purchase. However, you're going to be covered under your old policy. This can be a problem, should something happen. If your last car was already bought and paid for, then, chances are, you didn't have "gap insurance" — which helps to make up the difference if your car is totaled before your loan is paid off. If you had replacement car insurance, then it was probably for a much cheaper car than the one you're driving right now. You technically have protection right away, but it's inadequate protection. 

Ideally, you should call your insurer to figure out the next steps before you've even left the dealership. You may be able to adjust your policy or buy a new plan by phone or online to ensure that you never have to hit the road with inadequate coverage on your new set of wheels. Otherwise, you should plan to head into your auto insurance provider's office on the way home. 

If you plan on keeping your old car, your insurer will expect you to keep the same amount of liability and uninsured motorist insurance on each car. Still, collision and comprehensive will be at your discretion. And just because you want to buy gap insurance or replacement coverage for your new car, that doesn't mean you'll have to buy a similar policy for the old one.