Cash For Clunkers Auto Insurance Requirements
Cash For Clunkers Insurance?
State Farm, the nation’s largest auto insurer, is reminding those considering taking advantage of the Federal Government’s Car Allowance Rebate System (CARS, or `Cash for Clunkers`) of the insurance requirement for participation.
On Wednesday, the US Senate reached an agreement to extend the program until Labor Day. According to the federal program’s requirements, `Trade-in vehicles must be registered and insured continuously for the full year preceding the trade-in.` Those qualified vehicle owners with State Farm insurance should contact their State Farm agents to obtain the needed paperwork to present to auto dealers.
The insurance requirement in the `Cash for Clunkers` program should be just one small reminder of the importance of maintaining an appropriate level of coverage for your vehicle. Uninsured motorists are a risk to all drivers and contribute to higher auto insurance premiums. For many consumers, collision and comprehensive auto insurance help them recover quickly from the unexpected consequences of an accident. Despite current economic conditions, not having adequate coverage is taking a risk too great to ignore.
For more information about the importance of maintaining adequate vehicle insurance coverage and the insurance requirement for the federal rebate program, please contact State Farm Public Affairs, 770-418-5009. For more information on the `Cash for Clunkers` program, please visit www.CARS.gov.
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