Cars are generally purchased to be driven. Sometimes they become something to be kept inside, though. Many people love their vehicles so much that they want to preserve them for as long as possible. Perhaps the car doesn’t run as well as it used to. Maybe the vehicle is an older, rare model of a car, and it doesn’t have replacement parts if it gets into a wreck.
You can take many steps to protect a car you rarely drive. You need to think about where you are going to store it. Having an emergency fund set aside in case something happens to your vehicle is a great idea. You might wonder, “is there car insurance on a car I rarely drive?”
We’ll cover topics regarding how you can save money on car insurance for rarely driven vehicles. There are plenty of car discounts if they are kept in garages most of the time. We’ll also mention whether the age of your car matters when it comes to getting these discounts.
The Importance of Storing Your Vehicle
Storing a car you rarely use is one of the best ways to make sure it’s kept safe and secure. There are several reasons why indoor storage is the best way to protect a rarely driven car.
When you leave cars parked outside, the outdoor elements can really do a number on the vehicle. Snow, hail, and rain can all eventually wear on the paint. If the car has cheap paint or has never been repainted before, there is an even higher chance that weathering would occur.
Think about what type of indoor storage you want to use. If you have a clean garage connected to your house and it can fit a rarely-used car, go ahead and take advantage of this. Often the main garage on the house is very well-used, though. If you are storing other vehicles or objects in the garage, they could get in the way of the rare, older car.
Garage Storage Risks for Cars
People could rub up against the old vehicle, drop something on it, or accidentally scratch or dent the car. Finding a garage with less foot traffic is typically better for storing your prized possessions, such as an older vehicle. The garage doesn’t have to be on your property; you can rent a garage or a self-storage unit nearby.
Storing your vehicle in a garage, either at home or in a rented space, can help show insurance companies that your older car is safe. If you live in a high-crime area, moving your rarely-driven car to a different location with less crime can also help lower your rates. It demonstrates you care about ensuring the safety of the vehicle. Make sure you’re honest with your insurance company about the vehicle’s location.
If you are storing your vehicle long term, there is a great chance it is because this vehicle has become your prized possession. It’s important to maintain the door in the garage and to do regular inspections of the building to ensure the roof isn’t leaking.
Insurance for Cars You Don’t Use
Getting insurance on cars you use less often is still very important. The peace of mind an insurance policy can provide in the event of a disaster is worth the monthly payment.
Don’t worry; you could actually get tremendous discounts on the policy if you tell your agent you rarely drive the vehicle. You might be able to apply for parked car insurance to get the best rates and coverage for your unique situation.
Providing evidence to your insurance company demonstrating how your vehicle is stored and showing proof that you rarely drive the car can help you get even better rates. Showing your insurer you have another primary vehicle for transportation might give you bundle opportunities.
The model and age of the rarely driven car are other factors in the insurance prices. The insurance may be more expensive if the vehicle is rare, like a sports car. The parts are likely harder to find and fix if something breaks on the car.
If the vehicle is more common and old, it should be cheaper to insure than a newer car. Give as much information about your rarely driven car as possible to your agent to see if it’s worth it to insure the vehicle. If you don’t care much about what happens to a car, then this is the only time you could skip insurance coverage.
Why keep your car?
Figuring out the motivation behind why you are paying to store this vehicle that you rarely use is a good idea. Is it because of the sentimental value this car brings you? It may be the first car you drove as a teenager. Perhaps it’s a family member’s old vehicle. If these reasons resonate with you, storing and maintaining the vehicle will be well worth the investment.
If you are keeping a vehicle because selling it seems overwhelming, try taking some steps to research how much you could sell. The other step perhaps is by learning vehicle inspection. It may not be worth much, but any profit would be better than letting your vehicle take up space you could otherwise use.
Selling your unused vehicle could save you a lot of money in the long run by avoiding additional payments on insurance, storage fees, and other unneeded expenses.
Ask for Help
You may need to learn more about how to maintain your older car. If you’re keeping a car you don’t drive because you lack knowledge of how to sell it, talk to someone you know about the car’s value. Family members and friends may want to take the vehicle from you and give you a better price than strangers on the market would.
Hopefully, you can see the value in taking care of a car you don’t drive anymore. You should be decisive in why you are keeping the car. If you are unable to figure out how to paint it, insure it, or store it sufficiently, it might be time to get rid of it.
Take everything into account with your decision, though, because cars are very sentimental objects. You don’t want to regret your decision later.
Shawn Laib writes and researches for the car insurance comparison site, CarInsuranceCompanies.com. He wants to help people understand the details of buying, selling, and maintaining older cars.