Your car could be sitting in your garage for whatever reason, but the truth is that, even if you drive it once in a blue moon, you will have to purchase an insurance cover for it. “But how can I insure a car that I drive only once in a year? Isn’t that too expensive or just incurring unnecessary costs?” If these are the questions you are asking yourself, then sit back and read on to see how you can incur the least cost on car insurance.
What is required of you?
A Minimum Liability Coverage
Most states require you to get a minimum liability coverage, regardless of how frequently you use your car. In others states, your car is detected if it is not insured. They have verification programs, and once your car is caught, there is a fine to pay.
If you live in a no-fault state, things will work differently. After an accident, a driver will get compensated for damage from his cover instead of from other driver’s cover. Different states have varying laws, but usually, drivers need to buy a personal injury protection cover to cater for their injuries, property protection cover to cater for damages they pose to properties belonging to others, and property damage liability to cater for any costs incurred in court proceedings in case one is sued.
How can you cut down insurance costs?
If you have a registered vehicle, be ready to purchase the state-mandated coverage if you don’t want to get fined for failure to do so. Well, the good news is that, even if you have to purchase that cover, there are ways in which you can cut down the costs. How about you try these options?
Adjust your comprehensive and collision coverage
Comprehensive coverage covers repairs if your car is damaged by perils such as weather, while collision coverage covers for repairs in case your vehicle gets in a crash. These insurance covers are optional though. If you don’t use your car, then why would you buy a collision and comprehensive coverage? This wouldn’t be any different from taking your money to the river and watching it drown away, especially if its value is very low.
It is also referred to as usage-based insurance, and most people are considering it nowadays. With this kind of an option, you are rewarded for driving less. Depending on the usage-based insurance option you choose, you will need to report the mileage covered by your car or report your driving behaviors through a tracking device. If your insurance asks you to disclose how long you drive or commute, then with your car usually resting in the driveway, your premiums will obviously be lower. In whichever case, if your car sits in the driveway a lot of the time, your premiums are most likely going to be lower.