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My annual insurance renewal should be coming in the mail in the next couple weeks for both my Jeep Wrangler and Fiat Spider.

I normally get full insurance coverage on both vehicles for my own peace of mind. I’ve been working from home for the past three years, so that hasn’t really changed. However, traffic is very light these days, and with real pressure to save money, and with both vehicles now in lockdown most of the time, I think I may want to revisit my insurance policy.

It seems we will be under some degree of restriction of movement for 6 to 9 months. Are you guys planning to reduce your insurance coverage?
 

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Can't say what you guys do there but I can get you thinking, I hope.....How Precious are your vehicles ? I know, I know...daft question, so...INSURE THEM as you will find that your house insurance does not cover them and should....fire, theft, damage occur.............You could spread the cost by direct debit, extra cost but easier on the pocket. I have all three of our cars due soon, won't think twice..... You could ask insurer for advice as to basic third party cover only price and if you can upgrade once allowed out to play, but that is still likely to cost....Cheers
 

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Mine hasn't moved in 6 months and probably not for many more. Still fully covered sitting on stands in the garage.

The only time I have ever suspended coverage was during Desert Shield/Storm in 90-91. I put my car in a storage locker, tamper seal applied, notarized documents proving it, and the bank allowed me to drop coverage completely until I got back from deployment. 60% savings in the locker vs insurance and it wasn't getting sand blasted sitting in a "secure" open lot on Ft. Bliss.
 

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If you are not driving the car, you can call you insurance and get discounted rate. I do it in the winters. They still cover damaged or if stolen but since it not being driven it should be significantly less.
 

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For those that use their cars as week-end toys and not daily drivers take a look at insuring your car as a 'pleasure car'
Google 'Pleasure Use Car Insurance'
 

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Arthur and Ron (Brexit) are spot on for those of us in the UK. I spent 20 years as a senior manager for a large motor insurer and would suggest we all continue to insure our cars as fire (god forbid) is a small but real risk (particularly if the car is parked near tumble dryers etc) and theft as we know is a real risk if parked outside. Reducing estimated mileage as Arthur suggests is a good tip as including other named drivers if they are a lower risk than yourself. I wouldn't bother with Third Party Fire and Theft as the majority of your premium is made up by the risk of potential costs if you have a fault claim and injury someone (the old where there's blame there's a claim culture we now have) so TPFT premiums are not much less if at all if you can find and insure that will do it. You can SORN your car to save on road tax providing you park the car off road
 

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Arthur and Ron (Brexit) are spot on for those of us in the UK. I spent 20 years as a senior manager for a large motor insurer and would suggest we all continue to insure our cars as fire (god forbid) is a small but real risk (particularly if the car is parked near tumble dryers etc) and theft as we know is a real risk if parked outside. Reducing estimated mileage as Arthur suggests is a good tip as including other named drivers if they are a lower risk than yourself. I wouldn't bother with Third Party Fire and Theft as the majority of your premium is made up by the risk of potential costs if you have a fault claim and injury someone (the old where there's blame there's a claim culture we now have) so TPFT premiums are not much less if at all if you can find and insure that will do it. You can SORN your car to save on road tax providing you park the car off road
Well I'll be.........Following my 12 years RN FAA service I joined "Prudential" then after 14 years there...1993 mass Redundancy..."Axa" and finally as a Life, Pension, Mortgage, General, Savings and Investments (FPC Q) Sales Manager for an Estate Agency chain, so 20 years in total too.... Hello Simon ! Like yourself, I have handled the Sales..and the claims, some were sadly we "couldn't pay out. I currently have my Spider on "low mileage" cover Fully Comp so as Arthur says it does reduce costs a little and I think possible equals the "Pleasure Car" policy that TX is promoting, which for Aldo, being in the US of A may be worth checking out as the USA will have different set of rules from us and as far as I can see...state to state. Cheers
ron
 

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Mine hasn't moved in 6 months and probably not for many more. Still fully covered sitting on stands in the garage.

The only time I have ever suspended coverage was during Desert Shield/Storm in 90-91. I put my car in a storage locker, tamper seal applied, notarized documents proving it, and the bank allowed me to drop coverage completely until I got back from deployment. 60% savings in the locker vs insurance and it wasn't getting sand blasted sitting in a "secure" open lot on Ft. Bliss.
Yes....In my service days I remember doing exactly that........Like a one off 6 month hiatus so could well again, be worth contacting his insurer to see what can be done, "if" the Insurer is dealing with general enquiries....It seems that many companies in the UK have/are now selecting what they deal with due to staff shortages through Corvid-19 isolation...
 

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Blimey Ron that's uncanny as prior to the 20 years managing motor claims I used to give advice on life and pensions as a manager for the now defunct building society. Same career path and same excellent choice in cars! ? Simon
 

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Allstate had a release today, using their app you can request a 15% refund since we're not driving these days......
 

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As a licensed P&C agent I can say tha a.) if you have a loan against the car you are required to have comp and collision coverage on the vehicle until the loan is paid off. b.) If the title is clear, some companies will let you drop comp and collision and add it only when you take it out. However, it is necessary to maintain your liability insurance to keep the license plate on the car.
 

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While in my garage in storage I just pay storage insurance through my auto insurance. Cost is $ 30 per year. When the conditions are ready for driving then I purchase my regular insurance, usually for six months at a time.
 

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Insured all year, 12k miles all mods for 280£. Really cant be bothered faffing!!
 

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I received this notification from Progressive. Don't have to do anything but sit at home.

If you have an active personal auto policy at the end of April, you’ll receive a credit for 20% of your April premium. We’ll offer the same 20% credit to active personal auto customers at the end of May, and we may offer additional credits in the upcoming months.
 

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The way auto insurance works in the UK is pretty different from how it works in the US. In the UK, you essentially choose from one of three levels of coverage:

Third-party (liability, and the minimum legally required)
Third party, fire and theft
Comprehensive

There will be some minor extra options like break-down recovery or rental car cover available, but that's about it.

In the US, things are (as usual) more complicated, or more flexible, depending on your point of view. You have to select from a wide variety of different 'coverages' including liability, under-insured motorist cover, medical cover, collision, etc etc. Within some of those groups, you also need to choose the financial limits of the cover - for example for accident liability, your policy may be limited to paying out $100K per person with a maximum of $300K per incident. Many people in the US are driving with woefully inadequate levels of coverage for their liability exposure...

Failing to declare modifications in the UK runs the risk of invalidating your policy - they consider people who modify their cars a higher underwriting risk. In the US declaring your modifications is done primarily to allow you to claim for them in the event of a loss - it doesn't really impact your premium from a 'risk' standpoint. US policies also generally cover the policy holder for use of non-owned vehicles, including rental cars so you don't need to take the rental companies' over priced policies. UK policies tend to specifically cover a combination of the declared drivers on the declared vehicles only.
 

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I received this notification from Progressive. Don't have to do anything but sit at home.

If you have an active personal auto policy at the end of April, you’ll receive a credit for 20% of your April premium. We’ll offer the same 20% credit to active personal auto customers at the end of May, and we may offer additional credits in the upcoming months.
We got the same notice from Progressive yesterday. With the 2 boys and 3 cars on the policy, this will be a nice chunk.
 

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My annual insurance renewal should be coming in the mail in the next couple weeks for both my Jeep Wrangler and Fiat Spider.

I normally get full insurance coverage on both vehicles for my own peace of mind. I’ve been working from home for the past three years, so that hasn’t really changed. However, traffic is very light these days, and with real pressure to save money, and with both vehicles now in lockdown most of the time, I think I may want to revisit my insurance policy.

It seems we will be under some degree of restriction of movement for 6 to 9 months. Are you guys planning to reduce your insurance coverage?
I have used Hagerty insurance to insure my 79 spider and I plan to get a quote from them for my 2018 spider.
 

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We got the same notice from Progressive yesterday. With the 2 boys and 3 cars on the policy, this will be a nice chunk.
No kids but I have 2 people and 3 cars on my policy. I can tell how much I am not driving because I filled all three cars up with a full tank before we were locked in and have not had fill any of them up since 4 weeks later.

You know, when gas was a dollar more per gallon here. Doh.
 
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