Do I Need Insurance While My Car Is In Storage?
Most car insurance policies are primarily concerned with what happens to the vehicle on the road. Car accidents are the leading source of car insurance claims, but many things can damage your vehicle while it’s sitting in the garage or parked on the street. Even if your car is undriveable, you may still need to carry storage insurance to protect you in case of losses resulting from collisions, vandalism, or theft. So, you’ll need to get storage car insurance quotes.
To make sure that you are protected if anything happens to your vehicle, you should check with your current car insurance company to see if you have storage coverage. If you have a comprehensive policy, you’re probably in good shape. If not, you may end up having to pay out of pocket to repair or replace the car if something should happen.
Your rates for storage insurance should be much lower than your standard car insurance coverage. Check with your state insurance department to see if you are required to carry insurance even while your vehicle is in storage.
Many seasonal vehicles, such as motorcycles and RVs would be applicable under this type of policy. Also, disabled vehicles that are sitting in a garage may need storage insurance.
For example, you could be storing the car while you save up money for repairs. Keeping it locked in a garage makes you feel safe, but what if a thief were to break in? He could make off with your stereo system, navigation device, and any personal belongings you might still have in the vehicle. If you had a storage policy on the car, your insurance company would pay to replace anything that was stolen.
In other situations, your car could be involved in a collision even if it is parked on the street. If you’re not carrying insurance because you aren’t driving the car, you could end up paying for the repairs out of pocket or worse, you might have to replace the vehicle at your own expense.
Comprehensive coverage protects you in the event of theft, fire, and other damage that does not result from driving the vehicle. Even if your car is sitting in storage, you may still want to protect yourself with a good car insurance policy. Check with your provider to see whether they offer storage only coverage, or if you will need comprehensive in order to protect your assets.