Do i need to pay insurance on a car that just sits in my garage and will not be driven?

Question

My husband wants to buy a car that is an antique fixer upper. He seems to think it will take year or so for him to fix. Do I need to pay insurance on it until it's ready to hit the road?

Answer 1

I would check with your agent and ask if you can have comp only on this car.  Comp covers fire, theft, vandalism, etc.

For additional information on comp and other coverages you might want to check out http://mysite.verizon.net/ressg6c7/savin... ther are consumer guides on this page that might be helpful.

Answer 2

I don't. When it came time for the registration I just checked the box that read "Vehicle will not be used", paid $17.00 and that's it. The 1988 Bronco II is sitting next to the house, not being driven while I start changing the heads out. I just called the insurance company up, told them what I was doing and had it taken off the policy. No problem.

Just don't ever drive it on the street without getting the registration current and adding it back on the policy.

Answer 3

You may not need it at the moment if it has no real value, but once you start to fix it up you will need to insure it against theft, fire and water damage. There may be a special policy available for veteran cars that are rarely driven on the road.

Answer 4

No you do not need to insure it while it is not registered, (U.S.) That said, check your homeowners policy for coverage of uninsured vehicles in your garage. If you rent, definitely get coverage but talk with your insurance agent to describe the situation. When your husband wants to take his project around town you can in most cases select a policy that offers lower rates for vehicles that attain low miles per year. Again, speak to your agent. My low mileage policy is with State Farm and once a year I must report the odometer readings of my vehicles. No big deal, they even pay postage.

Answer 5

You don't have to insure it, but it would be a smart thing to do.

Answer 6

I would put just comprehensive on it until it is ready for the road.

Answer 7

If you have a loan on it, yes. If not, technically you should in case God forbid the garage catches on fire or something.

Answer 8

Yes and it's called storage insurance..Maybe 20 a month if even that.