Generally speaking, most insurers provide either 14 or 30 days, for a current policyholder to notify them of a newly purchased vehicle. This coverage extension, however, only applies for the broadest coverage which is applicable to one of your currently insured vehicles. Therefore, if none of your vehicles currently have physical damage coverages (comprehensive and/or collision), then you should be sure to notify your insurer before you drive that brand new car off the dealer’s lot.
The majority of policyholders do have at least one vehicle with physical damage coverage, so then you can rest easy if you make that new purchase over a weekend and wait until the next business day to notify your insurer.
Since you have up to 30 days to notify your insurer, does this mean you should wait this long? No. First, all insurers have slightly different policies. There have been smaller or regional companies that may only give you 3 days to notify them of a new purchase. Second, if given proper notice, your insurer should add the vehicle as of the purchase date, otherwise, you could receive a penalty from your lender or your State for being uninsured. So, you will not save any money by delaying the notification. Finally, it is always best to avoid the more complicated scenario of having an accident or loss with a car that your insurer has not yet added to the policy.