<TABLE BORDER=0 ALIGN=CENTER WIDTH=85%><TR><TD><font size=-1>Quote:</font><HR></TD></TR><TR><TD><FONT SIZE=-1><BLOCKQUOTE> On 2002-03-12 08:14, DantheMan wrote:
If I have my car in storage, I can get a reduced insurance rate? But of course, I will need full coverage anytime I drive it correct?
Basically, if I hardly drive the car, I can get a reduced insurance rate, correct?
You can put "comp-only" on your car when you're not driving it. This protects you from if the garage burns down, vandalism, theft, etc. However, if you drive it, you're uninsured because you have no collision & liability coverage. (That's why I put mine 350 miles away--no ability to act on the temptation to take it out on a nice day! :grin: ) For me, the "storage insurance" rate was about 15% of the full-coverage rate. In my case, it also kept the multi-car discount for both cars. With comp-only, you don't get an insurance card (since that's for driving purposes). Depending on the insurance company and the agent, you may or may not be able to do a "I wanna put full coverage back on for 2 days and then back to comp-only since the weather will be crappy then..."
Legally, you could get away with not having any type of insurance on a car in storage--but that's all your risk if something happens. However, if you finance or lease, you may be under contract to have some form of insurance on the car.
As for a reduced rate for driving it less, most insurance companies offer some sort of "pleasure rate". State Farm, for example, allows you to set the rate based on the miles you drive per year. Since I have two cars, I cut the mileage allotment down from 15,000 mi/year on one car to 7500 mi/year on each of two cars--saving me a fortune on both policies, and gaining me a multi-car discount.
<font size=-1><font color=00FFFF>"Smoke Machine" <font size=-2>(X-Press 2)</font>
<font color=00D0FF>True-Blue Bullitt #2294
<font color=00A8FF>(Currently hibernating in Parma, OH)
<font color=0088FF>Chicago (Lincoln Park), IL
<font size=-1>[ This Message was edited by: BUL2294 on 2002-03-12 11:39 ]</font>