What Exactly Is Car Storage Insurance?

When your car is not in use, it is better to park it properly in a garage at your home. Companies offer comprehensive insurance coverage for car storage that pays damages caused due to events like fire, theft, vandalism, falling objects and natural disasters. But to buy auto storage insurance policy, you need to get your vehicle’s registration and surrender its number plates. By insuring your stored car, you can enjoy total peace of mind.

How To Secure Insurance Solution For Your Car In Storage?

There could be several reasons for which you might have to park your vehicle in garage at your place. For example, you may go on an extended vacation or think of spending winters at a location which has warmer climate. Your car will not be in use during such time periods but it is vital that you secure financial protection against any possible damages. RapidCarInsuranceQuote can assist you to find the cheapest quote within minutes!

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How Much Does Storage Car Insurance Policy Cover?

A typical insurance policy for storage of cars may cover damages resulting from various unforeseen situations as mentioned earlier. Besides, if the stored vehicle gets damaged due to building collapse, costs for restoration of car parts and looks may also be covered. Car roofs, bonnet, windscreen, etc. are expensive to replace and insurers could be liable to pay for the restoration costs.

How Does Car Insurance For Storage Vehicles Work?

To get a car under storage insured, it is important for you to tell the insurer that you are not going to drive your vehicle for a specified time frame. A competent agent in your neighbourhood could let you know how you can protect your vehicle from probable damages. In addition, depending on the type of vehicle, you may also learn the extent of coverage that you need to purchase.

When Should You Buy Auto Storage Insurance Coverage?

Keeping car in storage is worthwhile for people that have multiple vehicles in their household or possibly have a vintage car which you have inherited. You can buy classic car storage insurance cover to protect vintage vehicle against possible damages for varied reasons. Proud owners of classic or vintage cars may drive them for exhibitions/rallies on specified occasions. Having storage insurance could be the way out in such a situation.

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4 Important Guidelines To Follow When Buying Storage Insurance For Cars

To qualify for buying insurance for car storage, the vehicle under consideration should have been stored in house garage for at least last 30 days. And securing the right type of storage car insurance coverage solution, it could be advisable for you to follow a stepwise process as mentioned below.

Make sure that you already have a fully insured car with some insurer with coverage which is compliant with your state’s minimum liability requirements. You can try and get your stored vehicle added to the policy by contacting your insurer. The auto insurance company’s representative could let you know whether such a thing is possible.
You must be owner of the stored vehicle and must not have got it on lease or finance or else it will be considered violation of contract agreement. If you are trying to insure a leased or financed car, you are not the actual owner of the stored vehicle technically.
Most of the states require owners to cancel registration before applying for auto storage covers. If you drop liability coverage without cancelling the stored vehicle’s registration you can be fined for non-compliance with your state’s driving insurance rules and regulations.

In case, your existing insurer doesn’t provide parked vehicle insurance policies then you can shop and look for other insurers.

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