We get many types of questions at W.B. Adams Company in Beaverton, OR. One common question is how putting a car in storage affects your auto insurance needs. Can you drop insurance when your car is in storage? Is it a good idea to cancel your policy? We are here to give you the answers.
Am I Legally Required to Keep Insurance on My Vehicle In Storage?
According to Oregon law, if your vehicle will not be driven on public roads, you are not required to carry liability insurance coverage. However, if you have a lien on the vehicle, your lender may require full coverage insurance on the vehicle even if it is not on the road. Even though you aren’t legally required to keep insurance coverage for a vehicle in storage unless it’s in your lien contract, you should consider doing so.
Should I Carry Insurance on a Vehicle in Storage?
There are a few reasons to keep some insurance policy on your vehicle while it’s in storage. The first is that the vehicle can still be damaged in storage. Vandalism and natural disasters are risks, whether your vehicle is being driven or not. Comprehensive coverage is specifically for damage that occurs when you aren’t on the road.
Second, it can impact your relationship with your insurer. If you drop coverage completely, you may be considered high risk, particularly if the insurance company doesn’t know why you have dropped coverage. You must go through obtaining insurance again before you can drive the vehicle, and your premiums might be higher.
W.B. Adams Company Auto Insurance
At W.B. Adams Company in Beaverton, OR, we know that vehicle damage isn’t limited to driving. Our agents take a customer-centered approach. We will discuss your specific needs and help you choose the right coverage for you at this time.