Buy a car, get auto insurance free

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Considering the purchase of a new car? How about free insurance to go along with it? I'm Kristin Arnold with your Personal Finance Minute.

General Motors is offering a year of prepaid auto insurance with the purchase of any 2010, 2011 or 2012 Cadillac, Chevrolet, Buick or GMC car. The auto insurance includes both liability and physical damage coverage and exceeds requirements in the two states.

The MetLife policy covers the vehicle and anyone who drives it with the original owner's permission for a full year from the date of purchase. The policy is not available on vehicles purchased or leased for certain commercial or fleet purposes and is only open to oregon and washington state residents.

GM said it is testing auto insurance as a standard feature to determine consumer appeal. The vehicle owner can seek to renew the insurance at the end of one year or go elsewhere for coverage.

The coverage limits look fairly standard for an auto insurance policy, although you'll want to check out the terms more closely before taking the plunge.

For more auto news and tips, visit I'm Kristin Arnold.


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