Proof of Insurance

You must provide evidence of full coverage insurance. CarMax financial institutions require maximum deductibles of $500 for both collision and comprehensive coverages and may call your insurance company to verify coverage.

CarMax third party financial institutions require that your new vehicle be added to an insurance policy prior to your taking delivery. A Sales Manager must verify that you have obtained full coverage, VIN-specific insurance prior to your taking delivery. This requirement can be satisfied by:

  • You contacting an insurance agent to set up an insurance policy on the new vehicle and providing a Sales Manager the documentation/details of the policy.
  • A Sales Manager speaking with an insurance agent over the phone and ensuring that the vehicle is added to a current insurance policy.
  • A Sales Manager reviewing a copy of an insurance binder that lists the new vehicle as being covered by an insurance policy.

A CarMax Sales Manager can help determine whether any documents you can provide will satisfy this requirement.

Reviewed 04/01/13