I’m spending two months visiting family out of state, so I won’t be using my car—it will just be idle with a battery charger. I think I may terminate my Progressive insurance policy without incurring any penalties. When I return, I may cancel the policy and either resign or begin a new one. I was curious to know what people’s opinions were and what they would do in this circumstance. Simply said, it seems like a bit of a waste of money to purchase an unusable item.
Hi Ann!
If you’re not planning to use your car for two months, you have a few options regarding your car insurance. Here are some things to consider:
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Suspending Your Coverage: Some insurance companies allow you to suspend your coverage temporarily. This means you won’t have to pay for insurance during the period your car is not in use. However, not all insurers offer this option, so you’ll need to check with your provider.
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Reducing Your Coverage: Another option is to reduce your coverage to the bare minimum required by law. This can save you money while still keeping your car legally insured. Just be aware that this might not cover damages or theft.
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Canceling Your Policy: You could also cancel your policy entirely and then reinstate it when you start using your car again. Keep in mind that this might lead to a lapse in coverage, which could increase your future premiums.
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Storage Insurance: If your car will be stored in a safe place, you might consider storage insurance. This typically covers damages that could occur while the car is not being driven, like theft or weather damage.
Before making any decisions, it’s a good idea to talk to your insurance provider to understand the implications and find the best option for your situation.
Hope this helps!
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