Reader question:

I really only use my high performance car insurance coverage in the summertime. Does it have to be insured while it’s in storage.

Good question.

The answer is yes, if you want to protect your vehicle. While it isn’t likely that your car will need its collision insurance while it is in the garage, what it will need is comprehensive insuranc to protect it against fires, natural disasters, and thefts. Considering that high performance cars are often high up on the theft list, this is the most important type of coverage. If you do not want to pay for full car insurance coverage while your high performance vehicle is in storage, most car insurance companies will strike a deal with you in order to get you only comprehensive and then just leave off the other types of coverage except for in the summer.

Some states require that you have liability high performance car insurance even if your vehicle is in storage, though, so in those cases you will not be able to just scale back. Even in these states there are often exceptions, however. If you only use your car during a certain time of year, you may be able to file a form with your state department of motor vehicles so that you can be excused from paying for car insurace coverage while you are not using your car.

Cheers,

Fashun Guadarrama.