Buying a New Ride? Here’s How to Keep that Baby Safe

Winston-Salem, NC 11/11/2014

It can be one of the most exciting purchases—a new car. Whether it’s a sports car or a family ride, here are a few things to know about keeping it insured:

 
First, When you replace a car, the ERIE coverage on your previous vehicle will transfer to the new one—for a limited period of time. Similarly, if ERIE covers all your vehicles and you buy an additional car or truck, the new vehicle will be protected for the broadest coverage afforded under your existing policy, but the coverage does not extend indefinitely.
 
Both scenarios have limitations that could leave you at risk. Your insurance contract requires you to contact our agency or ERIE about the change in vehicle as soon as possible.
 
Second, there is usually a time limit—typically you are required to report the change during the current policy term and immediately, if you wish to modify or add coverage.
 
Finally, your new car may not be fully covered under your old policy, especially if you chose not to carry physical damage coverages (comprehensive and collision) to keep your premium low on an older car. We can help you review your policy and make any needed changes.
 
One endorsement in particular you may want to consider is ERIE’s New Auto Security Coverage Endorsement.* This coverage helps protect against depreciation for up to two years in case you have to replace your new vehicle after an accident.
 
The smartest approach to lining up insurance for your new car? Contact us before you buy. We can help you evaluate how much your new car will cost to insure and help you make the change to your policy before you drive your new dream home. 
 
Contact us at (336)794-2810 to discuss your insurance needs. 
 
 
ISU Wilson Insurance - Our Knowledge is Your Best Assurance™.

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What Our Customers Say!
Several months ago we had a flood in our home due to a defective valve in our guest bathroom. Needless to say we came home to a disaster. We immediately contacted our agent, Linda Welborn. Right on the spot she gave us the name and phone number of a company to call (Disaster One). They came out that evening (around 11:30pm) and worked through the following morning around 6:30am. They did an outstanding job! We were so impressed with their "sense of urgency" and "expertise" we assigned all of our repairs to their company. The insurance adjuster(Erie Insurance) cut no corners when it came to replacing damaged items. They issued repair orders on things we weren't even aware we needed to look for. They too did a great job in getting everything processed quickly. It's great to have such a Professional agent who treats us like we are her only customer. I have been so impressed with her outstanding customer service that I refer many people to your agency because of the great care and attention she gives to her customers. Thank you Linda for your outstanding service! We look forward to working with you in the years to come.
Linda Martinez, Merfin Systems, LLC

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