Should I keep auto insurance on my car if it's just sitting in a parking garage?
I work from home now due to the pandemic. I have a car, but I never drive it. I was going to give it to my sister, so I'm not sure if I still need insurance on it. Should I keep the policy on it until my sister gets it, at least?
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Answered on May 04, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
“The answer depends on whether you’ll be getting another car in the future. If you cancel your insurance, you’ll have a lapse in coverage, which can result in higher premiums when you buy car insurance later on.
If you do plan to get another car, but you won’t be driving your current car again, you can opt for a storage plan, which is essentially an auto policy with comprehensive coverage only. This will protect your car from perils like fire, theft, and vandalism, and it may be cheaper than having a standard liability policy.
If you decide to get a storage plan, check out Jerry to find the best rates.”
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