Winter storage insurance coverage

[alm001]

Originally Posted by MrBen

I just cancel the insurance and self insure for the storage. I do the same thing with my Harley and boat.

If we do this in CT and don't cancel the registration, we will get fined from the DMV.
It's illegal to have a car registered without insurance.

[Rob175]

Perhaps in CT you could do what I'm planning to do.....removed "most of" the coverage but NOT ALL. So technically if you did the same in CT you might not be viewed as violating the CT law, since you still would have (some) insurance. I'm Illinois the law requires only "Liability" insurance on the road but allows one to have no insurance at all as long as it doesn't go on the roads.....and it must be licensed if it's driven or parked outside on a street, driveway etc etc.

I should tell all that this whole insurance "issue" began when I applied through State Farm to insure my 20 year old Boxster as a "CLASSIC" in order to cut my yearly premium IN HALF!!! I have 2 other vehicles and my home insured with State Farm and have been a customer for 49 years and ZERO CLAIMS, TICKETS, etc etc. My Boxster has 70,000 miles on it, driven in the summer only, averages about 3,500 miles a year, and is always gargage kept and is stored from December 1st till May 1st.

State Farm's underwiters first required an appraisal because their "CLASSIC" coverage requires an "AGREED VALUE" (I only asked for an agreed value of $10,000). Rather than spending between $250-$350 for an appraisal I reseached 15 comperables, took 25 pictures of the inside and out and assembled it all in a presentation folder for submission, which is exactly what the several appraisers told me they do. (the car is "mint" cosmetically and in excellent mechanical condition).

A week later, I was told by my agent that the underwirter now wanted pictures of the engine! I asked "why" and was told "because" ...so I took pictures of the top of the engine and sent those in.

Another week later, The underwriter "rejected" the "Classic" application saying....."Because the car is only stored for 5 (winter) months, and even though it's only driven 3,500 miles a year, it's still in use for 7 months a year"........
.....nothing in State Farm's "Classic" requirements says anything about that.

So, after all the hassle, I did some research and discovered I could save almost as much as a "classic" if I suspend all of the insurance except the "comprehensive" for 5 months.

Yes, I could shop around for other isurance ....and I did that, but the prices I got were so close as to not be worth the effort to change..

[alm001]

Originally Posted by Rob175

Perhaps in CT you could do what I'm planning to do.....removed "most of" the coverage but NOT ALL. So technically if you did the same in CT you might not be viewed as violating the CT law, since you still would have (some) insurance. I'm Illinois the law requires only "Liability" insurance on the road but allows one to have no insurance at all as long as it doesn't go on the roads.....and it must be licensed if it's driven or parked outside on a street, driveway etc etc.

Oh I answered already with what I do with statefarm. They have a status called "withdrawn from use" Been doing that for 4 years now, it has saved me a couple hundred dollars.

[BoxMann]

Originally Posted by alm001

If we do this in CT and don't cancel the registration, we will get fined from the DMV.
It's illegal to have a car registered without insurance.

In NY, you can't cancel your insurance unless you first turn in your license plates to DMV and get a receipt, and send the receipt to the insurance company.

So if I was doing winter storage in NY (I'm not, I drive it in the winter so long as the roads are dry) I'd reduce liability coverage to the legal minimum, cancel everything else except comp.