I'm very frustrated with this car & I won't be able to pay to get it fixed until September. Some people are telling me to still pay insurance on it, & others are telling me that it doesn't make sense to waste money, & that I should cancel the insurance. I don't know. I'm about to cry.
2007-06-29 08:54:22 · 14 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
Many insurance companies have something to address this situation. People where I live (in Alaska) have motorcycles, motor homes, or sporty type cars that they cannot or choose not to drive in the winter time. They have a type of insurance on the vehicle just in case something happens to the vehicle while it is parked, but it is not as high than it would be if you were actually taking the vehicle on the road. My friend calls it "park insurance" but I know it has another name. It is not only insurance companies in Alaska that have this because we have Allstate, State Farm, etc. just like everywhere else.
1. find out exactly what is required by law in your area.
2. call insurance company and find the cheapest way to cover it.
2007-06-29 16:52:09 · answer #1 · answered by Patti C 7 · 0⤊ 0⤋
Never cancel your insurance unless you will be insured with another company. As soon as you cancel and don't have insurance for a while, you will be considered a new driver when you get insurance again down the road even if you've been driving a long time.
So, it's better to keep paying insurance then having to start all over with a higher rate in September.
2007-06-29 09:08:05 · answer #2 · answered by Anonymous · 1⤊ 0⤋
I would recommend one to try this internet site where you can compare rates from the best companies: http://insure-cheap.info/index.html?src=2YAIEQ1Ijh5klc
RE :Should I pay insurance on a car that I can't drive?
I'm very frustrated with this car & I won't be able to pay to get it fixed until September. Some people are telling me to still pay insurance on it, & others are telling me that it doesn't make sense to waste money, & that I should cancel the insurance. I don't know. I'm about to cry.
Follow 14 answers
2016-09-01 17:23:31 · answer #3 · answered by ? 6 · 0⤊ 0⤋
You only have to pay insurance if l. you are still making payments on the car or have a lien on it then you are obligated to keep it insured. 2. If you are driving it on the road. If you are going to leave the car parked you don't have to have insurance although some states will not give you a tag or register without liability insurance. Also if something should happen the car, stolen, or a tree falls on it while not insured it would be your loss.
2016-05-18 23:34:08 · answer #4 · answered by ? 3 · 0⤊ 0⤋
Rules vary from state to state and from insurance company to insurance company. To know exactly what your options are, you would need to call your agent and ask them. If you can't completely remove the car from your insurance, ask them to lower the coverage as much as possible. If you can have it removed, I would still have fire/theft only coverage (sometimes called storage insurance). It's generally cheap and will cover a lot of things that can happen to the car when it's sitting. If you're not sure if you want it, ask your agent to explain exactly what it would or would not cover, because that sometimes changes between insurance companies too. Also, when you ask them if you can remove the insurance, don't forget to ask them if your rates will change when you re-insure the car in September if you temporarily suspend the insurance. Good luck!
2007-06-29 09:11:07 · answer #5 · answered by Jonathan R 4 · 1⤊ 0⤋
Insurance companies might charge you more when you do get it fixed as they see a lapse in coverage as a negative thing.
One option is to eliminate all coverage (temporarily) except liability (which is the only part that's required by law), and raise any deductible on that to $1,000.00 or more. That will make your insurance very cheap.
Even ongoing, to make insurance cheaper, eliminate stuff like uninsured motorist as if you have collision coverage, you are covered anyway. The higher the deductible, the lower your cost is, so at least while you aren't driving it, get as high a deductible as possible, and then change your coverage back when you do start to drive it. Or leave the deductible high and get a credit card that you save for in case you get in an accident and need it for the high deductible.
2007-06-29 09:01:10 · answer #6 · answered by whiskeyman510 7 · 1⤊ 0⤋
Many states require that any licensed vehicle in your name have a minimum level of insurance.
If you're storing the car for a long period of time, and can prove that the car will ONLY be in storage, some insurance companies offer "storage insurance" that meets minimum requirements for your state, and costs a fraction of full auto insurance.
2007-06-29 09:05:18 · answer #7 · answered by shiznannigan 2 · 1⤊ 0⤋
Call your insurance company and tell them your situation and that you will not be driving the car. They will put the car on a non operation status and your insurance will cost next to nothing. Good luck and sorry for your troubles.
2007-06-29 11:35:15 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Rules vary by location. In some areas if you still own it you must have insurance on it. In most if it's parked in the public arena it must have insurance. Call your agent and ask. He would know your options.
2007-06-29 09:29:21 · answer #9 · answered by oklatom 7 · 0⤊ 0⤋
OK here is what i would do if you stop paying it and start it up again in September you will have to pay more then you are now so I would go down to insurance co. and tell them what you are doing talk to them about putting storage insurance on it it is alot cheaper and if it gets damaged they will pay to fix it..
2007-06-29 09:09:57 · answer #10 · answered by Dale (aka drc40m) 4 · 1⤊ 0⤋