Auto Insurance Requirement for Cash for Clunkers Program
According to an article on coosavalleynews.com by Tony Potts, State Farm auto insurance is reminding everyone that the Federal Government’s Car Allowance Rebate System (CARS program or “Cash for Clunkers”) has an auto insurance requirement.
Last week the US Senate agreed to extend the CARS program until Labor Day which is a great opportunity for more car owners to take advantage of the tax benefit. By trading in an older car for a new one, tax credits will be given. But there are stipulations, one of which includes auto insurance. Trade-in cars must be registered and insured for the full year before trading in. This is an important reminder of how crucial it is for all autos to be covered by insurance. Uninsured drivers pose a risk to everyone on the road, not to mention it’s the law in most states.
Tags: auto insurance quotes, CARS program, cash for clunkers, state farm auto insurance, Uninsured Motorists
