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Auto Insurance Claims/insurance cancellation

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Expert: - 7/30/2011


Question
If a car is sold is it a requirement in NJ to notify the insurer or can you continue the coverage until a new car is bought even if it is several months to transfer it ?

Answer
Hi Anne,

When you sell a vehicle you no longer have an insurable interest in that vehicle. You should notify the insurance companmy to cancell the policy. If you do not own a car for several months, there is no reason topay for coverage you do not need.

I hope this helps
Richard Hixenbuagh

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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