I'm just curious about insurance...I'm months away from delivery... but wondering if members insure for the entire year, or if most go month to month and pay less during storage months?
Curious about insurance
- Thread starter Simpleman
- Start date
In Manitoba we can do a short term policy, it has to be at last 30 days and up to 244 days max. I usually insure my Vette when I feel conformable with the weather (early to mid April) and go till the last Sunday in October. After that we can purchase lay-up insure for reduced rate of about $1.12 a day, based on new replacement value of $75,000
Lay-up covers accidental loss or damage—such as fire, theft and vandalism, hail and lightning—excluding road use.
Lay-up covers accidental loss or damage—such as fire, theft and vandalism, hail and lightning—excluding road use.
I insure for the year and remove collision, accident benefits and keep only comprehensive (fire, theft, vandalism) during storage. The price should decrease substantially during storage. Shop around. There is a big disparity between premiums with various insurers. They all pretty much offer the same coverage.
I have heard if you have a loan on the vehicle full coverage should be on at all times.
double check that... not sure.
I do take most coverages off my ZR1 during winter and that is a nice savings.... since we get 5-7 months of winter... haha
Brian
double check that... not sure.
I do take most coverages off my ZR1 during winter and that is a nice savings.... since we get 5-7 months of winter... haha
Brian
Brian is correct that if any other party has a financial interest in the car you must keep full insurance on the vehicle. Once I paid off the car and the title was solely in my name I could then drop partial coverage while the car was stored for the winter. Some insurance companies have some stipulations about storage as well.
Safest bet is to talk to your agent. You will indeed save some money doing this. My Corvette has always been cheaper to insure than my truck, darn right reasonable as a matter of fact.
Good luck.
Safest bet is to talk to your agent. You will indeed save some money doing this. My Corvette has always been cheaper to insure than my truck, darn right reasonable as a matter of fact.
Good luck.
I'm with TD Insurance and the way they do it is, you call when you put the car in storage, you continue with full payments, then when you take it out of storage they calculate the reduced rate and give you a credit which gives me a few months of no payments.
I live in Brampton which has the highest rates in Ontario and was very surprised that the premium was 1,100/year less the winter savings brings in around 850/year. That's with full replacement with latest model year car for first 5 years.
I live in Brampton which has the highest rates in Ontario and was very surprised that the premium was 1,100/year less the winter savings brings in around 850/year. That's with full replacement with latest model year car for first 5 years.
I will let you know my cost in the next day or so. My C7 has arrived and I will be getting the VIN to my insurance broker today. There will be two prices. One for the pure storage of the car until the end of April and then I hope to get a price now for six months from May thru November. I will pass along once I know the details. My pricing will be from State Farm as well.
We insure/cover our Corvettes ('67 and '14) all year long.
During the "winter" months, we do take them out once a month just to keep
the fluids flowing, and the mechanical parts engaged.
Of course, if the weather is "nice" we can also go for a "cruise" in one or both of them.
Yes, we do get a lot of rain (Vancouver area), but we do also have much milder winters
than the rest of Canada.
And we expect to be autocrossing in March... actually UBCSCC has a winter "slush" series.
We entered the event in November, but couldn't do very well because it was -5
and those tires didn't grip very well. There is another one scheduled for Jan 18,
but I am working that day. So we'll see about the next one.
Sorry for all you guys who have to put your cars in storage for the winter.
During the "winter" months, we do take them out once a month just to keep
the fluids flowing, and the mechanical parts engaged.
Of course, if the weather is "nice" we can also go for a "cruise" in one or both of them.
Yes, we do get a lot of rain (Vancouver area), but we do also have much milder winters
than the rest of Canada.
And we expect to be autocrossing in March... actually UBCSCC has a winter "slush" series.
We entered the event in November, but couldn't do very well because it was -5
and those tires didn't grip very well. There is another one scheduled for Jan 18,
but I am working that day. So we'll see about the next one.
Sorry for all you guys who have to put your cars in storage for the winter.
I maintain coverage all year just in case I wake up some cold January night realizing I need to wash the car (in Key West)
Just got a quote today for my new C7. The full price for 6 months will be $560. The price will get reduced in a few days once the car is safely parked in the garage.
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