To the S2000 owners that store your cars during the winter season, what do you do to your insurance? To you drop your insurance to save money or leave it on?

How about the S2000 owners that barely drive the car? Are there ways you guys save on insurance costs?

 

I meant to lower it but left it in full force.

If you lower it, make sure it would cover vandalism, theft and damage from the storage structure collapsing, etc. At least, I would.

 

Yeah drop it to liability only... why give more money to the insurance company than needed?

 

Will that cover the car if anything happens to it while in storage and not out on the road? For example, ceiling collapsing, flood, natural disasters, tree falling, etc?

i totally agree with your last sentence. I really don’t want to pay for full coverage if I’m not using the car. But I also want some coverage, not zero.

im so afraid to put the car on liability only. There was a time I’ve never been in an accident then I switched my insurance to liability only because the car was getting old. Boom, a few months later, got to a single car accident. What luck... I don’t want that to happen to the S lol

 

No, drop the liability coverage but keep the comprehensive. Comprehensive is what covers you when the car is stolen or a tree falls on it. Liability protects you when you are in a crash and you get sued. Incidentally, if you have underinsured or uninsured coverage, get the max possible. Have you seen the Liberty Mutual ads? No one, but no one carries anything but the bare minimums. And now with all the illegal immigrants driving illegally, they have no insurance. Uninsured and underinsured coverage will protect you if they injure you. Otherwise you may be out of luck.

The problem is if your insurance company has to report the drop of liability to the state. I used to drop my liability in November, resumed it in March, just in time to keep registration from being suspended. My insurance company had to send letters to the state a few times. Save about $600 per year doing this.

Now I have Hagerty, agreed value at $22,000. Can't be my daily driver, so I have to have a regular car. Insurance is about 1/3 of a normal policy, so I just leave it on all year.

 

Get comprehensive coverage with your choice of deductible ($500 recommended, $1000 if you have a spare 1k laying around for a loss). Like Blueosprey said, some states require the insurance company to notify the motor vehicle division when liability insurance is dropped, thus in turn your registration will be suspended. If your state has a "No operable" status or whatever they call it for registration, you can place that on the vehicle and won't be required to keep liability.

 

Are you in the Southern Hemisphere? Winter is 9 months away in most parts of the Northern.

Did this in Ohio with USAA for 4 or 5 years and all I did was call them and drop all the road insurance during the storage period. Simple phone call in the Spring turned it back on. They provided a full page DO NOT DRIVE notice to place on the windshield. Premium were lowered. Registration not impacted. Again, this was in Ohio. States regulate vehicle insurance. Easy to check with your insurance company -- they should know the rules.

You may be able to buy limited mileage "collector car" insurance that typically only covers you driving between car shows.

-- Chuck

 

I switch mine to storage for the winter, it covers the car for everything except damage from being driven/in a collision. Insurance in MI is stupid expensive, so it saves me about $150 a month by doing so.
I looked into Haggerty last year and was tempted, but the limitations on driving it bug me. Call your carrier to see what they offer.

 

I use Haggerty year round on my s2000 as well as my Mustang. Full coverage on both and super cheap, don't have to worry about bringing it in and out of "storage" a couple times a year which I used to do previously. As for mileage, I just told them how much I drive each car per year approximately and that was it.

 

I used to drop everything but comprehensive when I stored mine. It was a hassle because I had to turn in my plates in the fall and retrieve them in the spring. I have a pleasure use policy and the premium is low enough that it is not worth the effort anymore.