Insurance and winter storage question
Thread Starter
Intermediate
Joined: Oct 2017
Posts: 44
Likes: 9
From: Berwyn Il
Insurance and winter storage question
Hello everybody,
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
Last edited by erick708; Nov 12, 2017 at 12:38 AM. Reason: Spelling mistake
Advanced
Joined: Mar 2016
Posts: 98
Likes: 23
I take full coverage off every year for the winter. Each year is different but all it takes is an email to my insurance agent to take full coverage off and then to put it back on. Usually sometime in December I will take full coverage off and then put it back on in May. It saves me about $400 doing it this way. I use to do the same with my motorcycle but the insurance is so cheap on it now I dont even bother. My vette is still covered for fire and theft during those months, just cant drive it.
Racer
Joined: Nov 2015
Posts: 450
Likes: 159
From: Port Charlotte Florida
coverage
Hello everybody,
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
Pro
Joined: Aug 2008
Posts: 704
Likes: 101
From: Duluth MN
Hello everybody,
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
I've had my C5 for one year now. I've had full coverage insurance on it since the day I bought it including the 6 months from November to April while it sat in the garage.
This winter I was thinking of changing the insurance coverage to "storage".
How many of you that store your corvettes for the winter reduce the insurance coverage while hibernating or do you leave the full coverage all year long?
I have geico insurance if it matters any.
Thanks guy and gals.
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I used to take everything but comprehensive coverage off my car but any more I just leave full coverage in effect. We have had such mild winters the last couple of years that I have been able to get the car out and enjoy it even though it is cold. I just take it easy on the gas pedal.
If you have no plans to drive the car for 3-4 months or more, then nothing wrong with dropping the coverage down and enjoying the savings on your premium.
If you have no plans to drive the car for 3-4 months or more, then nothing wrong with dropping the coverage down and enjoying the savings on your premium.
Team Owner
Joined: Jul 2006
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From: Douglas County WI
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Le Mans Master
Joined: Sep 2014
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From: Kelowna BC
Insurance here on my Z is around $150/mo (53 years old, no accident... it's because it's considered a high risk car), storage for 4 months is around $40 or $10/mo. Yep; I opt for storage insurance every winter.
Instructor
Joined: May 2006
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From: Chicago IL 2002 Quicksilver Z06
Pro
Joined: Jun 2007
Posts: 544
Likes: 33
From: SW of Chicago Illinois
I have Geico also and store a truck for winter. Definitely suspend your full coverage for just comprehensive only to save money. Geico's only stipulation is they don't want you switching back and forth all the time. Usually have to wait at least 30 days from the time you suspend until you can re-instate full coverage.
Thread Starter
Intermediate
Joined: Oct 2017
Posts: 44
Likes: 9
From: Berwyn Il
Thank you for all the replies.
It's true it doesn't make sense to pay for full coverage if I'm not driving it. I just didn't know one could basically cancel collision coverage and just keep comprehensive.
I called Geico today. I don't pay my policy in full. I pay it monthly for our 3 cars. The mrs' 2016 Jeep Grand Cherokee Limited, my daily driver a 2017 Ford Focus SEL hatchback and the Corvette. I pay $188.00 per month for full coverage for all 3 cars. My new monthly payment will be $133.
So a savings of $55 per month until next april.
Thanks again for the replies.
It's true it doesn't make sense to pay for full coverage if I'm not driving it. I just didn't know one could basically cancel collision coverage and just keep comprehensive.
I called Geico today. I don't pay my policy in full. I pay it monthly for our 3 cars. The mrs' 2016 Jeep Grand Cherokee Limited, my daily driver a 2017 Ford Focus SEL hatchback and the Corvette. I pay $188.00 per month for full coverage for all 3 cars. My new monthly payment will be $133.
So a savings of $55 per month until next april.
Thanks again for the replies.
Drifting
Joined: Jul 2017
Posts: 1,365
Likes: 471
From: S.E. Pennsylvania
I looked into this when I read about it on the forum. I called the company and they refused to suspend coverage for the 5-6 months I store the car. They said that if I drop the coverage for more than 30 days they must notify PENNDOT (Pennsylvania) and they will require me to send in my tags. I would then have to reapply for tags in the Spring. A bunch of BS that I wouldn't want to do. Pennsylvania mandates liability for all cars all year so I couldn't go with just comprehensive. I have American Collector's... I would change companies if there is one that allows suspension of coverage for storage. $532.00 for a 1998.
Last edited by bc6152; Nov 12, 2017 at 06:41 PM.
Racer
Joined: Nov 2015
Posts: 450
Likes: 159
From: Port Charlotte Florida
grundy
Thank you for all the replies.
It's true it doesn't make sense to pay for full coverage if I'm not driving it. I just didn't know one could basically cancel collision coverage and just keep comprehensive.
I called Geico today. I don't pay my policy in full. I pay it monthly for our 3 cars. The mrs' 2016 Jeep Grand Cherokee Limited, my daily driver a 2017 Ford Focus SEL hatchback and the Corvette. I pay $188.00 per month for full coverage for all 3 cars. My new monthly payment will be $133.
So a savings of $55 per month until next april.
Thanks again for the replies.
It's true it doesn't make sense to pay for full coverage if I'm not driving it. I just didn't know one could basically cancel collision coverage and just keep comprehensive.
I called Geico today. I don't pay my policy in full. I pay it monthly for our 3 cars. The mrs' 2016 Jeep Grand Cherokee Limited, my daily driver a 2017 Ford Focus SEL hatchback and the Corvette. I pay $188.00 per month for full coverage for all 3 cars. My new monthly payment will be $133.
So a savings of $55 per month until next april.
Thanks again for the replies.
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Le Mans Master
Joined: Mar 1999
Posts: 6,029
Likes: 85
From: Palm Coast, FL
Geico does have storage insurance. I used it when I would leave the car at the shop or when-ever it wasn't running and at home in the garage. It was the greatest thing, it only cost me about $20.00 for the six month policy. They will not issue you an insurance card because you don 't need it IF you are truly in storage...
Drifting
Joined: Jul 2017
Posts: 1,365
Likes: 471
From: S.E. Pennsylvania
don't know why it's so unbelievable 
