Final answer:
The exact time frame to report a new car purchase to add collision coverage varies by insurer and state laws. Policyholders should consult their insurance policy or agent. Ignoring notification rules could result in a lack of coverage in an accident.
Step-by-step explanation:
The specific number of days required to notify the insurer to add collision coverage on a new car when replacing a car that only had liability coverage can vary depending on the insurance company's policy and the laws of the state the policyholder resides in. Generally, insurance companies provide a grace period to report the purchase of a new vehicle which may range from a few days to a month. However, for the most accurate information, the policyholder should consult their insurance policy or speak directly with their insurance agent.
It's important to remember that insurance policies can differ widely. Some may offer automatic coverage for a new car for a limited time, while others might require immediate notification. Ignoring these requirements could lead to a lack of coverage in the event of an accident. Thus, understanding the terms of your insurance policy is crucial when acquiring a new vehicle to ensure continuous and adequate coverage.