Car insurance renewal after 15 years
Dusting off your old car after 15 years can be exciting, but don't forget about a crucial element – car insurance renewal. Renewing a policy after such a long hiatus comes with its own set of challenges. This guide will walk you through the process, ensuring a smooth renewal and proper coverage for your beloved vehicle. Potential Challenges of Renewing After 15 Years Policy Lapse and Reinstatement Penalties: If your previous policy lapsed due to non-renewal, you might face reinstatement penalties when reactivating it. Changes in Car Value and Risk Profile: The value of your car will likely have depreciated significantly in 15 years. Additionally, your risk profile might have changed due to age or driving habits. Limited Insurance Provider Options: Some insurers may be hesitant to cover older vehicles, limiting your choices. Verifying Your Existing Policy and Coverage (if applicable): Locating Old Policy Documents: Dig through your records to find your old policy documents.