Keeping your vehicle in good condition ensures that you don’t have to deal with costly repairs or full car replacement prematurely. But whenever you’re making any changes to your car, you’ll want to keep your auto insurance in mind. Will small changes to your vehicle using aftermarket car parts affect your auto insurance? Should you only use original parts made by the car’s manufacturer? Here’s what you should keep in mind whenever you’re repairing your car yourself using aftermarket parts. If you need support finding auto insurance, come to us here at Murvay Insurance, serving Newport Beach, CA. 

Will Using Aftermarket Car Parts Affect Your Auto Insurance? 

In general, using aftermarket car parts to make small repairs here and there shouldn’t be a big issue. Many auto insurance providers, in fact, will use aftermarket car parts in car repairs to keep costs down. The problems arise when you start making expensive investments or major customizations. If you’re installing new parts that are quite costly, your auto insurance policy likely won’t cover them, as your insurance company is considering the replacement cost of the car as it was when it was first sold rather than as it is with all the new parts on it. If you want coverage, you’ll have to notify your auto insurance company about any major changes and get additional coverage (often in the form of custom parts and equipment coverage). 

Find Auto Insurance With Murvay Insurance

Auto insurance isn’t an optional form of insurance, which is why it’s so important to find an affordable and comprehensive plan that supports you on the road. Here at Murvay Insurance, serving Newport Beach, CA, we make it much easier to understand your options so that you can make an educated and confident auto policy decision. Compare quotes with us now!

Owning multiple vehicles in Newport Beach is pretty common. And when you don’t have a lienholder, you’re in a good position because you’re not paying interest on a car note. In this situation, California only requires you to have liability insurance. But if the vehicles sitting in your driveway or garage are newer models, having comprehensive and collision auto insurance is still a good idea.

Why Paying Cash for a Vehicle Can Create a False Sense of Security

When you’re financing a car with a lender, they’re going to require you to have collision and comprehensive coverage. This protects their financial investment. But once you own your vehicle outright, that requirement gets dropped.

At that point, the law allows you to just have liability auto insurance. Which saves you money. But it’s not a money-saver if you need hundreds (or thousands!) of dollars in repairs if your car gets damaged in an accident or because of something else.

California Law Requirements for Auto Insurance

The state of California requires 30/60/15 liability auto insurance. This coverage protects other people if someone is injured or their property is damaged and you’re at fault. But it doesn’t cover your own vehicle. Our team at Murvay Insurance can look at your policy for you to make sure you’ve got what you need in place. 

Here’s a good example scenario. You’re backing out of a parking spot at Fashion Island and back into another vehicle. Your liability insurance will cover the damage to their car, but you’ll be out of pocket for the damage to yours. An even worse scenario is if you’re in an accident and total your car. Or it’s stolen. You’re completely out of luck. 

How Auto Insurance for Multiple Vehicles in Newport Beach, CA, Can Make Things More Complicated

When you’ve got more than one vehicle, and they’re all on one single policy, each one has its own risk. Things like theft, vandalism, storm damage, accidents. All of these can impact any of your vehicles. Comprehensive will cover damages if there wasn’t a collision with another car involved. Collision takes over if you’re in an accident. If you don’t have both, you’ll be absorbing 100% of the cost to repair your car or replace it. 

Talk to a Professional to Be Sure You’re Protecting Your Investment

If you bought your cars outright, you’ve made a significant investment. Having the right insurance on all of your vehicles keeps you from having to pay twice for something you already own. Get in touch with us at Murvay Insurance to make sure you’ve got the coverage you actually need. 

Virtually everyone in Newport Beach, CA, is trying to save a few dollars these days, including on auto insurance. Yet, you may be reluctant to change policies when your premiums suddenly increase drastically. Shopping around can help you keep your premiums in check. If you do it correctly, you won’t experience a coverage lapse. Murvay Insurance can help you switch your policy and ensure you still have sufficient coverage.

How To Switch Carriers

Your current carrier should give you sufficient notice of premium increases or coverage changes, typically 60 days’. This gives you sufficient time to explore new options if you are not satisfied with what your current carrier has presented. During this time, compare rates and coverage from several companies to ensure you can find another policy that meets your needs. For most people, this process will be easy. However, if you have an open claim with your current carrier, you must continue working with them to ensure the claim is processed correctly, even after you switch policies.

Essential Considerations

Don’t cancel your old policy until you have a new one. Although your current policy may allow midterm switches, be aware that you may have to pay a cancellation fee. And if you have an open claim, be aware that your premium may change once the claim is closed and your new carrier reviews your claims history. Follow this advice closely, as a lapse in coverage could be detrimental to your future insurance coverage.

If you have considered changing your auto insurance coverage in Newport Beach, CA, don’t leave it to chance. Contact the agents at Murvay Insurance to get started on an auto insurance policy tailored to your needs.