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Old 10-22-2019, 06:38 AM   #1
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Winter storage insurance coverage

Since I store my 98 Boxster away from the Chicago winters (Dec 1st through April 1st) it was suggested that I "suspend" all of my full coverage EXCEPT the "comprehensive" to save a few bucks......is this a common practice? (btw, I have State Farm)

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Old 10-22-2019, 06:55 AM   #2
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I keep mine insured all year round. Never know when it's nice out enough for a drive, gets stolen or a tree goes through the garage roof.
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Old 10-22-2019, 07:02 AM   #3
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If you will not be driving the car in your storage period I think you want to remove liability coverage (if you hit someone) but still want to keep the comprehensive coverage in case the building you store it in catches fire, the building is squished by a falling airplane, etc. BUT your State Farm agent should be able to verify it. I'm about 40 miles from Chicago and just call my agent and tell him that I won't be driving my car between these dates and want to remove coverage needed if I'm driving... since I'm not an insurance professional or a lawyer. I don't tell him what I think I need, I ask him... saves me about $150 a season.

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Old 10-22-2019, 08:20 AM   #4
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I also have State Farm. I call my agent and have my car put on "Withdrawn from use" and give them the odometer reading. The car is still covered in case of damage or theft, but there is the assumption that you will not put any miles on the car. The cost is reduced about 75% until I get it reinstated.
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Old 10-22-2019, 01:12 PM   #5
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I have a few I take in and out of service. Mine is with Farmer's and it's easy. I just call or text my agent and he makes the necessary notes.
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Old 10-22-2019, 02:14 PM   #6
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Thanks guys.....I appreciate the responses.
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Old 10-22-2019, 07:56 PM   #7
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I just cancel the insurance and self insure for the storage. I do the same thing with my Harley and boat.
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Old 10-23-2019, 04:54 AM   #8
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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.
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Old 10-23-2019, 05:21 AM   #9
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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..

Last edited by Rob175; 10-23-2019 at 06:08 AM.
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Old 10-23-2019, 06:07 AM   #10
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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.
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Old 10-23-2019, 03:05 PM   #11
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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.
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Old 10-23-2019, 05:10 PM   #12
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I assign storage insurance when I winterize my P-car; USAA dramatically reduces my costs, but is insured for theft, fire, and other hazards.

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