What is Car Insurance?
Owning and operating a vehicle comes with certain inherent risks, as is evidenced by the thousands of accidents that occur on a daily basis. Even the most careful of Massachusetts drivers will probably be in an accident (or several) eventually. Car insurance doesn’t minimize the likelihood of accidents occurring, but it helps protect drivers from the financial consequences of accidents they’re in.
Accidents can be expensive. A minor accident can result in thousands of dollar worth of damage, and major ones can result in multi-million dollar settlements. Because the financial fallout of accidents can be so large, most drivers should purchase robust car insurance coverage.
Do Drivers Need Auto Coverage in Place Before Purchasing a New Vehicle?
Generally speaking, drivers should have auto coverage in place the day they take ownership of a new vehicle. Unexpected incidents can occur on the first day of ownership, and drivers typically need coverage before they can register a vehicle.
While coverage should be in place on the day a vehicle’s ownership is transferred, drivers don’t always have to wait until this day to put coverage in place. It’s often possible to set up coverage for the appropriate day as soon as drivers know when they’ll take possession and the vehicle’s vehicle identification number (VIN). A vehicle’s