When you wreck your new car

No one ever thinks that they will have an accident in their brand new car. Especially one that you just rolled off the lot with. But, things do happen and that's why we have auto insurance. Let's take a look at one of the saddest cases I've ever seen. I saw recently that comedian Tracy Morgan went out and bought himself a ridiculously expensive Bugatti.  It looks like online you can pick one of these cars up for uhm over two million. Within five minutes of rolling off the lot and waving goodbye to the happy salesman he got in a fender bender. Now, it’s bad enough when your new Corolla has a small accident. I go a little nuts when I get a door ding on a new car. Now, this is next level exotic car stuff. From the video’s I’ve seen online it looks like a silver Honda CRV cut in front of him at an intersection. The damage was mostly to the front bumper and the driver’s side front quarter panel. Nothing major, but I can’t imagine what those two pieces of that car will cost to replace. Hopefully the Honda driver has high enough limits to pay to fix the car. I carry pretty high limits but even my coverage would tap out pretty quickly if I ran into that fancy car.
What are all the insurance implications of this accident. First, if you buy yourself a new car you always want to make sure you have auto insurance in place before you leave the car dealership. Many insurance companies will give you a grace period usually about 30 days to add a car onto your insurance policy. They will apply the coverage you had on the old car onto the new vehicle. But, and this is important. If you just had liability coverage on your old car you may not automatically be covered with collision on the new car. And that collision is the coverage that protects your new car. And, if you have no insurance when you head over to the dealer at least get a quote on the vehicle you are looking at. I've had plenty of people call me from the dealership and I've been able to start a policy and email them proof of insurance so they can drive their new car home.
A few things to remember before you go out and get yourself a new car. Make sure you know how your company will handle adding the car.  Don’t forget to add that new car onto your insurance before the grace period ends.  Additionally, make sure you have enough coverage on your policy to protect you if you do run into a Bugatti.  And do comedians really make enough money to buy a Bugatti? Call me if you need insurance for a new car! 951-395-0754  Or, if you want to hire me on as a comedian. My salary starts at the low seven figures. I do bar mitzvah's and quinceanera's!