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Winter insurance info

jabberwoki

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Like some my beasty has been put away for the winter but i`m still paying full insurance with state farm.
Anybody got a better plan?
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The Demon

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You should always do storage insurance. That’s what I always did when I lived in Illinois. It is very very minimal pricewise.
 

Finally21

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In Minnesota if you have a loan on a vehicle you must maintain full coverage all the time until paid off, then you can drop some coverage during storage season.
 

CANTWN4LSN

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I have State Farm as well. They allow you to suspend your insurance for as long as you wish but keep the property damage portion of the policy in case its stolen, the garage collapses and catches on fire, etc. Definitely do so and save a few bucks.
 

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AlphaBravo

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I have USAA, and when the Shelby goes into storage for the winter, I remove the collision coverage from the policy, and I put it into the "Storage" status that USAA offers.
 

JOKER M1

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I have State Farm as well. They allow you to suspend your insurance for as long as you wish but keep the property damage portion of the policy in case its stolen, the garage collapses and catches on fire, etc. Definitely do so and save a few bucks.
This right here ^
 

EFI

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Like some my beasty has been put away for the winter but i`m still paying full insurance with state farm.
Anybody got a better plan?
If your company doesn't offer a minimal storage option, all you do is remove everything from the policy except for comprehensive. Most large companies make it easy to adjust all of the parameters online so you just have to do that twice a year.
 

I Bleed Ford Blue

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One other thing to consider, if you still have a loan on the car make sure the lienholder will allow reduced coverage during storage. Some will, some won't.
 

Bitten in '69

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Lenders will not warn you in advance. Unless you find out yourself, in advance, you will only find out after they (the lender) send you a bill for insurance coverage they assign.
 

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I Bleed Ford Blue

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The first year I had mine when I called my insurance to drop it down to storage coverage they advised me to ask the bank. Turns out my lender allows it.
 

04mazdaspeed

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Ive been putting my cars in "storage" for years. Meaning dropping the collision part. All had at one point liens on them. Never had any issues with lenders "finding out". Ive had all different kinds of insurance companies as well. If you dont want to go this route, consider collector car insurance. There are some stipulations with them but the cost savings is huge and no need to be dropping insurance every season...lol
 
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jabberwoki

jabberwoki

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Wonderful info guys, thanks.
 

johnny1

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In Minnesota if you have a loan on a vehicle you must maintain full coverage all the time until paid off, then you can drop some coverage during storage season.
Same here in Kansas
 

Blwnsmoke

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Like some my beasty has been put away for the winter but i`m still paying full insurance with state farm.
Anybody got a better plan?
I remove my collision from my State farm policy when mine goes into storage and add it back on in the Spring so I'm only paying for comp.

I get approval from my credit union on a collision waiver that they offer for vehicles stored for the season. They allow me 6 months a year so I remove it from around Dec till mid April +/-.
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