Did you know that your existing car insurance policy extends to a new vehicle for up to 14 days from the date of delivery?
The Ontario Automobile Policy states that a newly acquired vehicle is considered as insured as long as the following criteria are met:
- You notify your insurance company within 14 days of delivery of the new vehicle
- All of the vehicles you own are insured
- You are not in the business of buying or selling vehicles
While your newly acquired vehicle is covered by this extension, the coverage limits will mirror those of the policy on your current vehicle. Depending on your particular situation, this could be important should you need to make a claim.