I'm in NY and my policy has a 3 month lay-up built in. I chose Jan Feb Mar but could have structured it for any 3 months. I am covered for fire and theft, keep my plates and my bank likes it. It saves about $200 per year. Try Erie Ins. Group.

 

I also live in PA and can take the collision off my Vette if I wish. I did exactly this with my last Vette.

With this one I don't drive it in the snow, but if its only cold outside, then I will drive it. Thus I don't take the collision off of this one.

 

It was 72 degrees here yesterday

 

there's always a chance the weather will break and we want to drive our Vettes on a moments notice.

Not for me. We already have both insured as "Pleasure Driven Only" vehicles. So it knocks about $28 per month off to do this. For me it's just not worth the hassle of... wanting to take the cars for a spin - but having to call my agent before hand and get the insurance back up to full power.

I guess it's different for everybody - and certainly not for us.

 

You may want to consider keeping liability on it.

I know this is a long shot, but say for instance a drunk comes barreling down your street, loses crontrol, and crashes into your house and garage and destroys your Vette.

Then you find out the sad truth that most reckless drunks are uninsured.

The only hope you have for compensation at this point is your UM (uninsured motorist protection) coverage which is part of your liability coverage. At least in VA, this is how it works.

This may sound like a far fetched scenario but after 23 years in the insurance bizz, I have seen it all and then some!

 

Good point. My insurance company wanted me to keep full coverage on my car unless I could prove that it was stored in a disabled condition. They told me if I only left fire and theft on the vehicle and someone stole it and killed someone, etc, I would be responsible. After some discussion and the fact that my garage is plumbed into my security system they let it go.

Tino

 

This is COMPLETELY FALSE! A person has to be a PERMISSIVE user of the vehicle for you to be in danger of any responsibility. A car thief is not considered a permissive user in any court I know of!

 

Let's analyze this...it doesn't make sense to me.

If you have theft coverage (comp) on the car, and someone steals it, why is that not covered under the theft policy?

If whosever steals it kills someone, are you saying your liable for that? I don't think so. Liability falls in the hands of the driver, not the car.

 

 

DO NOT DELETE YOUR COLLISION COVERAGE DURING STORAGE. Comprehensive only covers you for fire, theft, flood, falling objects and vandalism. Comp will not cover collision with another vehicle or object. If a hit and run driver hits your vehicle, comp will not cover you. If your neighbor accidentally backs into your garage (and the neighbor is uninsured), this again is a collision and comp will not cover you.

As far as the vehicle being stolen, you are not responsible for the liability resulting out of the use of that vehicle. Your policy will cover you and anyone using your vehicle with your permission. A thief obviously does not have permissive use. The damage to your vehicle will be covered under comp, but you are not responsible for bodily injury and property damage to others cause by the vehicle.

Also, make sure you have loan gap coverage if you financed your vehicle. If your vehicle is totaled and your pay-off is higher than the value of the vehicle, the loan gap coverage will cover the negative equity.

Finally, make sure you have adequate liability limits. At least $500,000 per person. For all you high rollers, consider an umbrella policy with several million dollars worth of liability coverage. I deal with fatal accidents on a regular basis and you don't want to be in a position where you caused an accident involving serious injury or death and you end up exposing your assets because you had minimum limits.

Ok, insurance geek lesson is over.

 

Agents have what's called "Binder" authority.

Three times last year I called my agent during the winter and said it's a nice weekend, I'm taking the Vette out.

He bound coverage for the weekend and I saw no bill. The transaction was the phone call and based on his word, I was covered. Even if there's no paperwork.

If I'd have wrecked the car, he would have made a phone call to the carrier and told them that he 'bound' coverage for the weekend, and coverage would have been in force. I would have had to pay a pitance in premiums for the coverage, and my car would be fixed, on his word.

I plan to exploit the same thing this winter. Insurance is a contract of adhesion. The "insured" has more rights than the "insurer", since the "insurer" wrote the policy and the "insured" must adhere, but had no role in writing the contract.

A good agent will tell you all this.

 

same here, except I lay it up for 6 months with just fire, theft.
no need to deal with DMV

 

I just put fire and theft on mine for about $60/six months. If while it's sitting in the garage with the cover on it, something happens, my homeowners will pick it up. I was fortunate enough in 2001 to get 0% financing, and I have to clear it first with GMAC, by means of a form that they will send out, but they're pretty good with that.

 

Sounds great,wish mine was paid off

 

I hear ya' - but I simply don't like having to call my agent every time there is a break in the winter weather. My psyche will cost me more dollars... but right now in my life I need stress reduction more than I need an extra $30 per month.

 

Good points but this is what I was told. The theft coverage is strictly for the vehicle and not for liability coverage in an accident or death. In essence they are saying I need to have the liability insurance active unless I can prove the car is secure from theft or disabled i.e battery is out of the car.

Tino

 

Hell with it....I'm keeping mine year around

 

I'd spend some time on the phone with the agent on that one.

If you H.O. carrier covers cars, you're the only one.

 

What is this? I've never heard of it.

 

I don't get it.....








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