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 Posted: Sat Jan 17, 2009 11:59 am Post subject: I am storing my plated vehicle and wish to drop the liabilit |
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| Keeping comp insurance with liability on this vehicle will cost too much. Can I turn my plates in to my local police department while my liability insurance is dropped? The state recently sent me a notice asking for liability coverage on a specified date. I am able to prove that coverage but no longer wish to keep it as the vehicle is no longer driveable. |
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vpedwards
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| Posted: Sat Jan 17, 2009 1:10 pm Post subject: |
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Yes dependent on your state laws, you can store it as long as it isn't driven there is no need to carry any liability...
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Lori
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Location: Missouri
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| Posted: Sat Jan 17, 2009 1:33 pm Post subject: |
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| In PA you can not store a plate according to our insurance company. You mentioned this is dependant upon state laws and I am sure other states are different. They passed a law here sometime ago if you drop your insurance you have so many days to turn in the plate. There was a big problem with people getting insurance a long while back and then dropping it after inspection. I am not sure if this is the reason. All of this is information is what I got from my insurance company. We wanted to take the insurance off the monte carlo for winters since it was a summer car and they informed us if we did we would have to send in the plates and purchase new plates every summer. I believe my hubby put a lower insurance on it during the months that it was parked. I want to say garage insurance but don't know if thats the correct phrase. |
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fireyone
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| Posted: Mon Jan 19, 2009 6:50 am Post subject: |
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some states wouldn't allow you to drop the liability coverage even when the car is in garage. You need to check out with the state DMV site about it. However, of you are not going to operate the car in the road or even not letting it to anyone else, you can cancel the liability coverage. You may discuss the matter with your insurance company.
However, even when the car is locked away in the garage there are certain perils that can cause damage to the vehicle. Hence, you may still require to maintain the comprehensive coverage on it.
~Jeremy |
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JeremyHolter
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| Posted: Mon Jan 19, 2009 6:58 am Post subject: |
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| Quote: | | some states wouldn't allow you to drop the liability coverage even when the car is in garage. |
Yeah, quite right, NY is one such state where you have to maintain the liability coverage on the vehicle even when you are taking it off the road. If you don't maintain liability on the vehicle your insurer would report it to the state DMV.
In NY the insurers are required to inform the DMV electronically everytime a policy holder obtains the coverage and also when his/her policy expires. If the insurance company fails to do it properly you may end up losing both the registration of the car and your license. Tough, huh?
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