If you own a classic car that you only drive during the summer and fall, you might have bought a seasonal auto insurance policy this summer. Seasonal policies can be a great way to keep your auto insurance premiums low, but what do you do to insure the car in the winter?
Like their name implies, seasonal auto insurance policies require that you hang up your keys during the winter months. If you succumb to temptation and drive your car during the winter, you’ll be driving without insurance. In Texas, this is breaking the law and may make seasonal auto insurance policies not be attractive to you. However, if you live a northern state where you’d never consider driving while there’s salt on the roads, a seasonal auto insurance policy might be right for you.
However, winters in Texas can be cold and you may know you will not be driving your 1955 Oldsmobile Convertible between November and springtime. If this is you and your classic car stays in the garage all winter long, you shouldn’t cancel your comprehensive coverage. While your homeowner’s policy will insure your house and garage in the event of fire, theft or vandalism, it won’t cover your vintage ride. To keep your car adequately insured, your agent may recommend that you get lay-up or storage insurance. This type of coverage should only lower the liability portion of your auto insurance policy.
If you’re willing to gamble that your car will be safe from damage all winter, you can drop your auto insurance policy completely in some cases. Allowing your insurance to lapse, even for a few months, is never recommended due to the risk involved. You should also research your state’s laws before you stop paying your premium. In some states, you must return your car’s registration and license plates to the state’s Department of Motor Vehicles as soon as your coverage lapses. Skip this step, and you could pay substantial fines.
Before considering a seasonal auto insurance policy, you should also find out how a change in policy could affect any existing insurance discounts you receive. A multiple car insurance discount may no longer apply if your second car is only insured with seasonal coverage. Lose the discount and you may only save a few dollars each year by switching coverage.
If you’re determined to save on your auto insurance premiums, be sure to talk to your independent insurance agent about insurance policies tailored to classic cars. These policies have low mileage limits but are great deals if you drive mostly in parades and on the weekends. A classic car insurance policy can offer you substantial premium discounts when compared to a traditional auto insurance policy. Classic car insurance policies also allow you to insure your car for more than the depreciated value of the vehicle. This extra coverage is essential if you own a vintage car that is in good condition.
Driving around in your classic car is one of the greatest joys on a beautiful day. Make sure you have the right coverage for your vehicle by speaking with an insurance agent who is knowledgeable about classic car insurance. To find out more about ways to save on your Round Rock auto insurance this fall and going into winter, call Integrity Network Insurance Group at 512-989-6006.