Auto Insurance Claims: insurance cancellation, topay, insurable interest

Question
If a car is sold is it a requirement in NJ to notify the insurer or can you continue the coverage until a new car is bought even if it is several months to transfer it ?

Answer
Hi Anne,

When you sell a vehicle you no longer have an insurable interest in that vehicle. You should notify the insurance companmy to cancell the policy. If you do not own a car for several months, there is no reason topay for coverage you do not need.

I hope this helps
Richard Hixenbuagh