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With the start of the school year and the shift to cooler weather, there are a myriad of reasons you may be choosing to store a vehicle through the winter months.  Whether it’s the classic car that only goes to car shows, a motorcycle that doesn’t handle well in the rain, or your daughter’s car that she didn’t take to campus, choosing to store a vehicle for an extended period of time may give you a little break on your auto insurance payments.

Some insurance providers offer policy options for vehicles that are going to be in storage, such as comprehensive-only policies.  However, it is also essential to understand your state’s laws about registration and insurance, as many require any vehicle that is registered to carry a minimum amount of liability.  Your BenefitSource insurance professional can explain the details specific to you.

Here are some additional things to consider when adjusting your auto insurance policy.

Storage Policies Versus Reduced Coverage

Depending on your state’s laws, you may be faced with the option to shift to a policy designed for storage-only, leaving the vehicle illegal to drive.  On the other hand, it may be better for you to reduce the amount of coverage.  If the car will not be driven, you can significantly reduce your liability and collision coverage.

Storing Versus Parking

In order to consider your vehicle stored, the space must be locked.  Storing your vehicle anyplace else, including carports, driveways, and the side yard, is simply considered parking the vehicle in the eyes of insurance companies.  Additionally, storing your car in a garage or storage unit gives you the peace of mind in knowing that your vehicle is safely out of view and more protected from the elements.

Comprehensive Coverage Versus No Coverage

Many people mistakenly believe that their homeowners insurance will cover the vehicle if it is stored in the garage over the winter months.  However, for most policies, this is not true.  If a disaster happens and your vehicle is damaged or destroyed in your garage, you will still be turning to your auto insurance coverage for help.

Talk With The Experts

Before making changes to your auto insurance policy, speak with an expert that can understand your individual needs and provide knowledgeable guidance.  At BenefitSource, we specialize in finding you the right amount coverage for the right price.  Call us directly at (877) 215-5431 or email us to set up your appointment.

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