For a long time, I have turned off collision coverage on the Corvette in winter (when I can't drive it), and for the Jaguar the rest of the year (when I don't drive it). This saves quite a bit of money on car insurance. Turning collision back on again is easy; we drove the Jaguar to the funeral, so I called Progressive Sunday evening to turn it back on before driving to the Oregon coast. (My wife prefers the Jaguar for road trips over the Corvette, and the TrailBlazer has a lot of miles on it.)
I learned something new this week while helping to wind up my brother's affairs. When I called Progressive Insurance to remove him from the policy, and then to remove his car after we sold it, I discovered that what they were calling "vacation hold" was not just "no collision" but also removing public liability, uninsured motorist, etc. So this morning, when I called to change the coverage on the Jaguar (which is now back in the garage), I talked to Policy Services at Progressive, and they confirmed that at least in my state, I could remove everything but comprehensive coverage. As long as I don't drive the car, this handles everything that could go wrong: garage collapse; meteor collision (yes, this happened in upstate New York a few years ago); even car theft that leads to a collision. The net effect is to save an additional $20 a month beyond just turning off collision coverage.
Good to know, I have Progressive. Although I don't have particularly valuable cars, and spend maybe $600 a year on insurance.
ReplyDeleteI have State Farm, and go through a similar insurance-off switch for winter.
ReplyDeleteMy motorcycle lives through the winter in my Garage.
I'll try to ask a clarifying question of my agent. Thanks.