Do I have to keep a vehicle insured as long as I own it? What if I am not driving it any more? Do I have to either insure or get rid of it. These are the types of questions people keep asking. When you own an automobile you will have to account for its insurance since it is a legal requirement to insure it. When you buy at least liabilities auto insurance you comply with this requirements and you can prove it if anyone asks. So, what are insurance obligations of an automobile owner in the following circumstances?
When Can I Drop Insurance for a Car I Don’t Drive?
State laws and regulations differ on this subject. If a car is kept on public roads most states would want it insured. For example, if a car is left on the street and children cut themselves while playing around it, you would be liable. And therefore you would have to keep at least liabilities coverage if it is still left on the roads.
If you want to drop insurance coverage you may have to keep the car on a private property. Also, you or anyone else shouldn’t drive it under any circumstances when it is uninsured.
Do I Have to Inform DMV as to Why I Don’t Insure my Car?
Department of Motor Vehicle keeps track of insurance policies. When you suddenly drop your policy they will probably know about it. Many states would want some sort of declaration from you when you want to drop auto insurance coverage. They would probably require you to return vehicle license plates as well. In other words, you may have to follow certain rules and procedures if you want to keep a vehicle but not insure it. If you ignore these rules you will receive warning from local DMV. They will want you either confirm new policy details or fill out an “off road” form. If they don’t receive anything within thirty days you will receive fines and further enforcement.
How to Insure Cars that Are Driven Occasionally?
If you are considering driving these cars on occasional bases you may be able to find very affordable insurance for rarely driven cars, especially if you have another car for everyday driving. There are many people who keep second cars for occasional use. This could be a classic car, a family van that is used only during holidays or an open car that is driven in the summers. If you own a typical car but don’t drive it much you may consider pleasure use car insurance. If it is a classic car and you own another vehicle you may be able to insure it cheaply either under a multi-car policy with your other automobile or separately.
How to Insure a Vehicle that Isn’t Driven at all and Stays in the Garage?
In that case, you may be able to just keep comprehensive coverage and drop the rest. This makes sure that it is covered for theft, flood, fire and so on. Since it is off the road and not driven you may not need liability and collision coverage and save your money for something else.