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I didn't know where to else to post this one. A question came up the other day while I was dining with friends. We both have sports cars that we tuck away for the winter. Their question to me was, 'did your auto loan people tack on an insurance policy when you put your car into storage mode?' I said I did not see my payments go up nor did I get a bill or the loan price go up. So I guess nothing happened to me THIS year. I just have reduced insurance on it for few months over the winter. So did they, but then their loan provider (maybe it was subpar) tacked on a full blown policy. My question: Can, or, is this done on regular loans (I've heard leases doing this)? and how would my loan company know? I have confirmation from my insurance co. of the temporary switch and there was no cc: to my loan company. But next year... who knows.
How I wish, how I wish you were here. We're just two lost souls Swimming in a fish bowl, Year after year, Running over the same old ground. What have we found? The same old fears. Wish you were here.
I tried getting Nationwide to give me some sort of "this car is rarely driven" policy....because the car is rarely driven. And since it is only worth $4,000 or so...I was going to let the insurance lapse and let the car sit under the cover while various parts were replaced to get it back on the road. No go. If I didn't have all the cars I owned insured, my umbrella policy would be dropped.
Posts: 9128 | Location: CLEA | Registered: November 04, 2004
What about liability? Isn't that the only thing that matters? That's all I want to carry on it. But there has to be a policy that recognizes that the thing is fired up 20 times a year...or less.
Posts: 9128 | Location: CLEA | Registered: November 04, 2004
Originally posted by jombl: I use State Farm and put my sports car on a fire and damage only policy. It's a line item on my auto policy and I believe runs about $6.
Me too. It was like $26.00 for the 5 months. FWIW: I had it stored away from my house, somewhere where I did not have access to it. I think I have vandalism too.
How I wish, how I wish you were here. We're just two lost souls Swimming in a fish bowl, Year after year, Running over the same old ground. What have we found? The same old fears. Wish you were here.
I used to have a meticulous '87 IROC Z. The Berwyn/Cicero women LOVED it. Sold it to get a '67 triple black Camaro and then traded it for what I got now. I insure my current antique as a parade car. It's dirt cheap.
I use Mary Trynzolyn at State Farm right here in town. I am very pleased with her as my agent.
