What is seasonal storage adjustment in vehicle insurance??
Total Comments: 5
Posted: Tue Sep 11, 2007 05:08 pm Post Subject:
Hi Ash,
If I understand what you are referring to, it would normally apply to a type of vehicle that would not usually be driven during a certain part of the year.
For examply, there are insurers out there who, under the proper circumstances, are willing to insure a vehicle while it is being stored during "off-season" time. Examples would be motor homes stored for the winter, a specialty or other type vehicle that will not be used during certain times of the year. Say you have a convertible that you NEVER use during the colder months, and you aren't thrilled about paying for full coverage while it's being garaged because you simply don't drive it during the winter!
So, ask your carrier if they are willing to insure it for "comprehensive" or "other than collision" coverage ONLY, and temporarily drop the liability and collisions coverage while it's being stored. If you meet certain conditions as to the storage place, your insurer might be willing to do this for you. Your premium will drop considerably for the storage period.
Lastly, please remember that you cannot drive the car while it has the "storage" coverage only! You must inform your insurer/agent if you plan on driving it, even if it's only for a couple of hours! You would not have the legally required coverage to drive the car while it's in storage!
Hope this helps, and please let us know if you need anything else!
InsTeacher 8)
Posted: Wed Sep 12, 2007 04:30 am Post Subject:
Hey thanks for the info :)
Posted: Wed Sep 12, 2007 07:39 am Post Subject: You'd probably need to re-think!
Hi Ashwini..thats probably the only reason that we don't usually go for such an option. A temporary coverage may certainly reduce our costs for the time but we don't know when we would suddenly require to drive it out! Once we drive it , we might face the wrong music if we get struck with it. Thats simply one more reason why people don't compromise about the cars, when they would simply go for temporary policy regarding health (especially when it comes to shifting to a distant place for a certain period).
Regards, Fatman
Posted: Wed Sep 12, 2007 12:10 pm Post Subject:
I have heard this referred to in many different terms, storage, sleeping, napping etc. Frankly I think it a terrific idea/service, especially for boats, motorcycles etc, and have done it myself (on boat) for many many years, at a substantial savings to us. As soon as we bring the boat back from being 'winterized' and put in the garage, I call the agent.
As previously mentioned absolutely cannot drive it during these months.
Posted: Fri Sep 14, 2007 01:05 am Post Subject:
I'm not 100 percent positive but I think it is when you get a cheaper rate during the winter months if you store your vehicle and dont drive it.
Posted: Tue Sep 11, 2007 05:08 pm Post Subject:
Hi Ash,
If I understand what you are referring to, it would normally apply to a type of vehicle that would not usually be driven during a certain part of the year.
For examply, there are insurers out there who, under the proper circumstances, are willing to insure a vehicle while it is being stored during "off-season" time. Examples would be motor homes stored for the winter, a specialty or other type vehicle that will not be used during certain times of the year. Say you have a convertible that you NEVER use during the colder months, and you aren't thrilled about paying for full coverage while it's being garaged because you simply don't drive it during the winter!
So, ask your carrier if they are willing to insure it for "comprehensive" or "other than collision" coverage ONLY, and temporarily drop the liability and collisions coverage while it's being stored. If you meet certain conditions as to the storage place, your insurer might be willing to do this for you. Your premium will drop considerably for the storage period.
Lastly, please remember that you cannot drive the car while it has the "storage" coverage only! You must inform your insurer/agent if you plan on driving it, even if it's only for a couple of hours! You would not have the legally required coverage to drive the car while it's in storage!
Hope this helps, and please let us know if you need anything else!
InsTeacher 8)
Posted: Wed Sep 12, 2007 04:30 am Post Subject:
Hey thanks for the info :)
Posted: Wed Sep 12, 2007 07:39 am Post Subject: You'd probably need to re-think!
Hi Ashwini..thats probably the only reason that we don't usually go for such an option. A temporary coverage may certainly reduce our costs for the time but we don't know when we would suddenly require to drive it out! Once we drive it , we might face the wrong music if we get struck with it. Thats simply one more reason why people don't compromise about the cars, when they would simply go for temporary policy regarding health (especially when it comes to shifting to a distant place for a certain period).
Regards, Fatman
Posted: Wed Sep 12, 2007 12:10 pm Post Subject:
I have heard this referred to in many different terms, storage, sleeping, napping etc. Frankly I think it a terrific idea/service, especially for boats, motorcycles etc, and have done it myself (on boat) for many many years, at a substantial savings to us. As soon as we bring the boat back from being 'winterized' and put in the garage, I call the agent.
As previously mentioned absolutely cannot drive it during these months.
Posted: Fri Sep 14, 2007 01:05 am Post Subject:
I'm not 100 percent positive but I think it is when you get a cheaper rate during the winter months if you store your vehicle and dont drive it.
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