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How Much Is Car Storage Insurance?

by Bobby MooreOctober 10, 2021,
How Much Is Car Storage Insurance?

If you aren’t driving your vehicle for a while due to a visit to another country or maybe a temporary disability, you may think of reducing your auto insurance costs. In this case, you can get a car storage policy to cover the cost of storing it in an insured facility. 

Car storage insurance protects against theft, vandalism, fire damage, and other types of damage caused by natural disasters like hurricanes or tornadoes. The average cost of this policy is $20/month. It varies depending on the location where your vehicle is stored and its value and age. 

Comprehensive coverage is all you'll need for a car in storage to protect against different circumstances. Storage insurance will ensure that your vehicle is covered if anything happens while it's in storage. However, there are some things to consider before getting one of these policies.

Duration

There are many reasons why people store their cars, from moving across the country or overseas to having multiple vehicles and not enough space at home. You just have to consider the duration for which your car will be in storage so you can buy the comprehensive coverage accordingly.

Car Worth

If you have a car worth more than $10,000, you should consider getting car storage insurance. Having the right coverage can protect the investment you made in your car and give you peace of mind while your vehicle is in storage. It’s important to understand what types of protection you should avail for your expensive car.

Risks Involved

You have to assess the risks involved in putting your car in storage. What if someone breaks into your unit and steals something valuable? What if they damage the exterior of your vehicle by scratching or denting it? Or what about flooding caused by a leaky roof or sprinkler system? These are all things that could happen when you leave your car in storage for an extended period.

To learn more about car storage insurance and its benefits, visit Lakeville Motor’s blog section.

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