Old Vehicle, New Insurance: Geico Guide

If you're looking to replace your old vehicle with a new one, GEICO has made the process simple. You can sign into your account, visit the Add or Replace Vehicle page, and answer a few questions about your new vehicle. You'll then be provided with a quote, and you can decide whether to apply the changes immediately or save the quote for later. If you already have your new vehicle, it's possible to remove your old vehicle and add the new one simultaneously, as long as you plan to end coverage for the old vehicle on the same day you start coverage for the new one. However, if you want coverage for your new vehicle to begin before or after removing the old one, you'll need to complete two separate transactions. Most states require you to surrender or transfer your license plates to remove coverage for a vehicle. GEICO also offers various car insurance discounts, such as for students, federal employees, or members of the armed forces.

Removing an old vehicle and adding a new one to your policy simultaneously

Removing an old vehicle and adding a new one to your GEICO insurance policy simultaneously is a straightforward process. Here's a step-by-step guide to help you through it:

Step 1: Sign In to Your GEICO Account

Start by signing in to your GEICO account on their website or mobile app. This will give you access to your policy details and allow you to make changes.

Step 2: Go to the "Add or Replace Vehicle" Page

Once you're in your account, navigate to the “Add or Replace Vehicle" page. This is where you'll be able to make changes to the vehicles on your policy.

Step 3: Answer Questions About Your New Vehicle

GEICO will ask you a series of questions about your new vehicle. This includes information such as the vehicle type, Vehicle Identification Number (VIN), ownership status (owned, financed, or leased), and whether it will be replacing an existing vehicle on your policy.

Step 4: Indicate That the New Vehicle Replaces an Existing One

When asked if the new vehicle will replace a vehicle on your policy, select "Yes." You will then be prompted to choose the vehicle you plan to remove. Ensure that you have all the necessary information about your new vehicle, including the VIN, to complete this step.

Step 5: Remove Your Old Vehicle

On the same day that you add the new vehicle, you can remove the old one. Go to the “Remove Vehicle" page and select the vehicle you want to take off your policy. Please note that most states require you to surrender or transfer your license plates to remove a vehicle from your policy. Check your state's requirements to avoid any fines or penalties.

Step 6: Review Your Quote and Apply Changes

After you've added the new vehicle and removed the old one, review the quote provided by GEICO. You can choose to apply the changes right away or save the quote for later. This step ensures that you're happy with the new terms of your policy before finalizing the changes.

It's important to note that if you want the coverage for your new vehicle to start before or after removing your old vehicle, you'll need to complete two separate transactions. Additionally, if you're still shopping for a new vehicle and want a quote, you can select "Yes" when asked if you want to proceed with the quote. Just remember to comply with your state's requirements, such as surrendering or transferring license plates, before removing your old vehicle.

Getting a quote for a new vehicle

Step 1: Sign into Your Account

Log into your GEICO account on the official website. If you don't have an account, you can create one by providing the necessary details.

Step 2: Visit the "Add or Replace Vehicle" Page

Once you're logged in, navigate to the "Add or Replace Vehicle" page. This is where you'll provide information about your new vehicle and start the process of getting a quote.

Step 3: Provide Information About Your New Vehicle

You'll need to answer a few questions about the vehicle you're looking to insure. This includes information such as the vehicle type, Vehicle Identification Number (VIN), whether it's owned, financed, or leased, and if it will replace an existing vehicle on your policy.

Step 4: Review and Compare Quotes

After providing the necessary information, GEICO will show you a quote for the new vehicle. You can review this quote and compare it with other quotes to make an informed decision. You can also save the quote for later if you're not ready to make a decision right away.

Step 5: Consider Additional Coverages

In addition to the basic required coverages, GEICO offers a range of optional coverages that can provide you with extra protection. These include emergency roadside assistance, rental reimbursement, and mechanical breakdown insurance. Consider your needs and the value of your vehicle when deciding on additional coverages.

Step 6: Finalize Your Decision

Once you've reviewed the quote and considered your options, you can choose to apply the changes to your policy or purchase the insurance directly online. Remember to review your state's minimum coverage requirements and make sure you have the appropriate level of insurance for your new vehicle.

It's important to note that getting a quote from GEICO doesn't obligate you to purchase their insurance. You can use this quote to compare with other insurance providers and make the best decision for your needs. Additionally, if you're looking to buy a new car, you can request price quotes from dealerships to understand the total cost, including taxes and fees.

Removing an old vehicle from your policy

To remove an old vehicle from your Geico policy, you will need to log in to your account on the Geico website. From there, you can visit the “Add or Replace Vehicle” page.

If you already have a new vehicle that you want to add to your policy, you can remove your old vehicle and add the new one at the same time. This option is only available if you plan to end coverage for the old vehicle on the same day that you start coverage for the new one. In this case, select “Yes” when asked if the new vehicle is replacing an existing vehicle, and then choose the vehicle you plan to remove.

If you want coverage for your new vehicle to begin before or after removing the old one, you will need to complete two separate transactions. In most states, you will need to surrender or transfer your license plates to remove coverage for a vehicle. You can add the new vehicle to your policy by selecting "No" when asked if it is replacing an existing vehicle. Once you have met your state's requirements, you can go to the “Remove Vehicle” page and select the vehicle you want to remove.

If you are still shopping for a new vehicle and just want a quote, select the vehicle you plan to replace, and then answer whether the plates for your current vehicle have been surrendered or transferred. If you answer "No," you will be asked if you want to proceed. You can select "Yes" if you just want a quote, but remember not to remove the old vehicle from your policy until you have complied with your state's requirements.

Surrendering or transferring license plates

There are several scenarios that mandate surrendering your vehicle's license plates. These include:

• Relocating to a new state: All states require registering your vehicle after establishing residency. How you dispose of your old plates depends on the policies of your former state. For example, Maryland requires you to send your plates back, while Virginia encourages, but does not require, former residents to return the plates by mail.
• Transferring vehicle ownership: Many states require removing the license plates from a vehicle after selling it. If you don't want to transfer the plates to another vehicle, you may need to surrender them to the Department of Motor Vehicles (DMV) or another state agency.
• Dropping vehicle insurance: In all states except New Hampshire, carrying a minimum amount of car insurance is mandated, making it illegal to operate a vehicle without coverage. If you cancel your auto insurance policy, you must surrender the license plates.
• New license plate design: If you change to a personalized license plate, your state may require you to surrender the old plates.
• Taking the car off the road: If you place your vehicle in storage or take it off the road for repairs and don't want to pay registration and insurance fees, you must surrender the license plates.

The process for surrendering license plates can vary by state and specific circumstances. Here are some general steps and considerations:

• Check with your state's DMV: Each state has its own requirements and procedures for surrendering license plates. Contact your local DMV or visit their website to understand the specific steps you need to take.
• Complete the necessary forms: Depending on your state and situation, you may need to fill out specific forms to surrender your license plates. For example, in New York, you need to complete the Plate Surrender Application (PD-7) for each set of plates being surrendered.
• Remove plates and stickers: In most cases, you will need to remove the license plates and any stickers from your vehicle before surrendering them. Some states, like New York, also require removing plate frames and fasteners.
• Surrender the plates in person or by mail: Depending on your state, you may be able to surrender your license plates in person at a DMV office or by mailing them to a specified address. For example, in Virginia, you can use the DMV's Online Plate Surrender or surrender your plates at a customer service center.
• Consider refunds and credits: In some cases, you may be eligible for a refund or credit on registration fees when surrendering your license plates. Check with your state's DMV to understand the requirements and process for obtaining a refund.
• Transfer plates to another person: If you want to transfer your license plates to another person, you may need to complete a license plate release form and cancel your registration if the new owner is not using the plates immediately.

It's important to follow the specific instructions provided by your state's DMV to ensure a smooth process when surrendering or transferring license plates.

Understanding state requirements for vehicle replacement

When it comes to vehicle replacement, understanding the specific requirements of your state is crucial. While the process of replacing a vehicle in your insurance policy may seem straightforward, each state has its own unique regulations and procedures that you must follow. Here's a detailed guide to help you navigate the complexities of understanding state requirements for vehicle replacement:

Understanding the Basics of Vehicle Replacement

Before delving into state-specific requirements, let's cover some basics. When replacing a vehicle, you typically have two main options:

• Simultaneous Replacement: This option is ideal if you already have your new vehicle and want to remove your old vehicle from your policy. GEICO allows you to remove your current/old vehicle and add your new vehicle simultaneously, but only if you plan to end coverage for the old vehicle on the same day you start coverage for the new one.
• Separate Transactions: If you want coverage for your new vehicle to begin before or after removing your old vehicle, you will need to perform two separate transactions. Most states mandate the surrender or transfer of license plates to discontinue coverage for your previous car.

State-Specific Requirements and Procedures

Now, let's explore some state-specific requirements and procedures for vehicle replacement:

Missouri:

In Missouri, you must complete certain steps to title and register your vehicle. Within 30 days of purchasing a new vehicle, you are required to title it and pay the applicable sales tax. A delay in titling will result in a title penalty, which increases by $25 for every 30-day period of delay, up to a maximum of $200. To title your vehicle in Missouri, you must submit the following:

• Certificate of Title or Manufacturer's Statement of Origin (MSO)
• Signed Application for Missouri Title and License (Form 108)
• Identification number and odometer inspection (if applicable)
• Odometer Disclosure Statement (Form 3019)
• Notarized Lien Release (Form 4809), if applicable
• Title fee, processing fee, and state tax

New York:

New York allows residents to apply for a replacement title online, by mail, or in person through the DMV. The process involves completing an application for a duplicate title, providing the VIN, license plate number, and personal information, and paying a $20 application fee.

Texas:

In Texas, you can apply for a replacement title by mail or in person. The fee for mail applications is $2, while in-person applications cost $5.45. You must complete an application for a "Certified Copy of Title" and provide a photocopy or original photo ID, depending on the application method.

Additional Considerations

When navigating vehicle replacement requirements, keep in mind that individual states have varying procedures for specific situations. For instance, if the vehicle you're replacing isn't in your name, you'll need to handle it differently. In cases of inheritance or lost title transfer, you'll need to provide additional documentation, such as proof of ownership or a death certificate.

Furthermore, when replacing a vehicle, it's essential to understand the broader context of your auto insurance policy. Factors such as your driving record, mileage, location, and vehicle type can influence your insurance rates. Additionally, if you're moving to a new state, it's crucial to update your address and review the specific insurance requirements and regulations of that state, as they may differ from your previous location.

In conclusion, understanding state requirements for vehicle replacement involves familiarizing yourself with the specific procedures and regulations of your state. By following the outlined steps and staying informed about any unique circumstances, you can ensure a smooth and compliant transition when replacing your vehicle.

Frequently asked questions