Car Storage Insurance: What You Need to Know

Car storage insurance is a type of auto insurance policy that covers your vehicle when it is not in use. Many people who own classic, vintage, or expensive cars invest in car storage insurance to protect their valuable asset from theft, vandalism, and damage while it is not being driven. In this article, we will discuss everything you need to know about car storage insurance, including what it covers, how it works, and how to find the best policy for your needs.

What is Car Storage Insurance?

Car storage insurance is a specialized type of auto insurance policy that provides coverage for vehicles that are not in use. This can include cars that are stored in a garage, storage facility, or other secure location. It is typically used by people who own classic or vintage cars, high-performance sports cars, or other valuable vehicles that are not driven on a regular basis.

Unlike traditional auto insurance policies, car storage insurance only provides coverage when your vehicle is not being driven. This means that you will not be covered if you use your car for daily driving, commuting, or other regular activities. However, it can be a cost-effective way to protect your vehicle from damage or theft while it is in storage.

What Does Car Storage Insurance Cover?

Car storage insurance typically provides coverage for the following types of events:

It is important to note that car storage insurance typically does not cover damage that occurs while you are driving your vehicle. If you plan to drive your car occasionally, you may need to purchase a separate auto insurance policy to provide coverage while you are on the road.

How Does Car Storage Insurance Work?

Choosing a Policy

When choosing a car storage insurance policy, there are several factors to consider:

• The value of your vehicle: You will want to choose a policy that provides adequate coverage for the full value of your car.
• The type of storage: Your policy may have specific requirements for the type of storage you use, such as a garage or storage facility.
• The length of coverage: You may be able to choose coverage for a specific period of time, such as six months or a year.
• The deductible: You will need to choose a deductible amount, which is the amount you will pay out-of-pocket before your insurance coverage kicks in.

Filing a Claim

If your vehicle is damaged or stolen while it is in storage, you will need to file a claim with your insurance company. This typically involves providing documentation of the damage or theft, such as police reports or photographs. Your insurance company will then evaluate your claim and determine the amount of coverage you are eligible for based on your policy.

FAQ

Is car storage insurance required by law?

No, car storage insurance is not required by law. However, if you want to protect your vehicle from damage or theft while it is in storage, it is a good idea to invest in this type of coverage.

How much does car storage insurance cost?

The cost of car storage insurance varies depending on several factors, such as the value of your vehicle, the length of coverage, and the deductible amount. On average, car storage insurance can cost anywhere from $150 to $500 per year.

Can I use my car while it is covered by car storage insurance?

No, car storage insurance only provides coverage for vehicles that are not in use. If you plan to drive your car, you will need to purchase a separate auto insurance policy.

What types of vehicles are eligible for car storage insurance?

Car storage insurance can be used to cover a variety of vehicles, including classic cars, vintage cars, high-performance sports cars, and other valuable vehicles that are not driven on a regular basis.

How can I find the best car storage insurance policy for my needs?

The best way to find the right car storage insurance policy for your needs is to shop around and compare quotes from multiple insurance providers. You may also want to consider working with an independent insurance agent who can help you find the best coverage at the best price.

Conclusion

Car storage insurance can be a valuable investment for anyone who owns a valuable vehicle that is not driven on a regular basis. By providing coverage for theft, damage, and lack of use, this type of policy can help protect your investment and give you peace of mind while your car is in storage. To find the best car storage insurance policy for your needs, be sure to compare quotes from multiple providers and work with an experienced insurance agent.