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Why you should keep your summer car insured through winter

November 17, 2014

As winter settles in, you are taking the necessary steps to storing that summer convertible you love so much. Whether putting the seasonal cover over it and keeping it in your garage or storing it somewhere to be serviced during the cold months, you are using caution and care to make sure the vehicle stays safe.

But many people feel that because they aren't driving their summer cars during winter, they should cancel their auto insurance. After all, you aren't using the car, so why pay for the insurance costs? While that sounds like a simple solution to saving a bit of money after the holidays, it isn't the greatest idea. In fact, you are better off just leaving your insurance plan the way it is.

Here are a few items to consider before canceling your plan for the winter:

Keep your summer car insured through winter.

Your rates could change

While it is easy to assume you could simply pick up your rate again where you left off, this isn't always the case. There are many instances in which a new rate will be a higher rate. One example is a previous accident that you may have had. But because it was maybe your first accident you were forgiven by the insurance company. Well, that accident is still on your record, and if you are reapplying for insurance, the company might not take the forgiveness into consideration. After all, this is a new policy.

But even if you didn't have an accident, a lapse in insurance doesn't bode well in the long run. Insurance companies do not typically offer the best rates to those who do not have existing insurance. While you may have it on additional vehicles, it is worth looking into what could happen with your rates before canceling.

Your car could be stolen or damaged

Canceling your coverage cancels more than just the cost. What if your car is stolen? Sure, you have it locked up in your garage or maybe at an auto body shop for the winter and assume the locks are secure. But is it really worth the chance? Is the cost of your car worth less than what it would cost to keep it covered for several months?

Additionally, damage can occur even if the car is locked away. If your car is in your driveway and a winter storm takes your roof down and destroys the car, you are probably out of luck. Is there a chance your home insurance would cover it? That depends on your policy, and it is worth looking in to. On the other hand, you may think that the auto body where you are keeping your car is liable if an accident occurs there, but again, it is not a chance worth taking.

While you may think the examples are extreme, they would only be extreme if you don't have the proper coverage for your vehicle. It is understandable to consider only the immediate cost of insuring your vehicle, but insurance protects you from the unforeseen. You don't have to be driving this winter to have an emergency.