Buying a Car While You Have a Non-Owner SR-22
Your non-owner policy will not cover a car you own. Before you drive it home, you need an owner's policy with a new SR-22.
The no-gap switch
- Get owner's policy quotes before you buy the car. Expect a higher premium.
- Buy the new policy to start on the day you take the car.
- Make sure the new insurer files the SR-22 that day.
- Only then cancel the non-owner policy.
Financing a car with an SR-22
Lenders require collision and comprehensive coverage, which makes an owner's policy far more expensive than a non-owner policy. Budget for it before you sign.