Quote:
Originally Posted by Ryan Coke
With us not using our vehicles as much right now and looking for ways to minimize unnecessary expenses, I’m considering removing insurance from one of our vehicles. Now, and when I have done this in the last, insurers seem reluctant to actually take all insurance off, but instead keep fire and theft on it, which then minimizes the savings (it’s about 40% of the policy cost).
The car will be kept in the garage, and really I think I’m fine taking the very low risk of it being burned up or stolen.
So I’m wondering what others thoughts or experiences are on if it is reasonable to fully remove it, then reinsure it once things get back to normal. Or if is should keep the partial coverage on it for reasons I’m unaware.
We do have another vehicle that would stay insured in my name.
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I used to have a summer car that I would park every winter in my garage. The insurance company was fine with it as long as I kept fire and theft on it through the winter. I did this ever winter for about 10 years. - This is assuming that you have the vehicle paid off.