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Vehicle Storage Insurance: What to Know

Updated: Oct 7, 2020

If you’re planning to put your car or vehicle in storage for an extended period of time and don’t plan on driving it for a while, chances are you should be able to save a little money on insurance during that time.

As you probably already know, most auto insurance companies don’t have a specific coverage labeled “storage insurance” and instead offer minimal coverage for cars you aren’t driving or that are currently parked in a vehicle storage facility. Even still, most people refer to a minimal coverage policy as storage insurance since most people who have it are using it while keeping a car parked and off the road.

Car Storage Insurance: A Quick Overview

In short, the general idea behind a minimal coverage policy is to drop insurance coverage on potential incidents that can occur while driving, allowing customers to save money and only be protected if something happens to the storage facility, like flooding or a garage fire for example.

As a general rule, if you’re needing to put your luxury car in storage for a little while and aren’t quite sure how to handle the insurance side of the equation, it’s always best to reach out to your individual auto insurance provider to get the most up-to-date details on various policies. But in the meantime, we’ve outlined a few basics for customers to review just to help give you an idea of what to expect ahead of time.

What Exactly Does Car Storage Insurance Cover?

As alluded to above, a basic comprehensive coverage policy is designed to minimize cost and minimize coverage for vehicles that are parked and not out on the road. Specifics of what will be covered in the event of an incident will vary from insurance company to insurance company but most policies should protect your vehicle against fire, storm damage, flooding, theft, vandalism, and building collapse. Should your car or vehicle be damaged or destroyed while your car is in storage, you’ll likely only be responsible for your deductible.

When to Switch Over to Car Storage Insurance

Timing is everything for most things in life and car storage insurance is no exception. Keep in mind that if a major natural disaster like a hurricane is already on the way, insurance companies may not allow you to switch over to physical damage coverage until after the event has passed. And given our luxury car storage facility is located in Tampa, this is especially relevant. Outside of a situation like this, changing your policy over shouldn’t be an issue in most cases, as long as you know when you’ll need to put your vehicle in storage and for how long.

Reasons You Might Need Car Storage Insurance

With Florida being one of the top retirement destinations in the country, snowbirds make up a significant part of the Tampa area’s population. As a result, many seasonal residents prefer to keep a separate vehicle at each of their homes and store whichever one they aren’t using at the time. Inheriting a vehicle is also another big reason why car storage insurance is needed unexpectedly, which is something we also see fairly regularly at our Tampa location.


Article Recap:

  • You can save money on insurance if you're planning to store a car or vehicle.

  • Auto insurance companies usually don't offer a policy labeled "car storage insurance" but a minimal coverage option is typically reserved for vehicles not in use or on the road.

  • Car storage insurance (or comprehensive coverage) should cover events that can occur when a car is not in use, like fire, flood, natural disaster, theft, vandalism, and building or garage collapse.

  • People most interested in car storage insurance include snowbirds, anyone who just inherited a vehicle, and of course car collectors (not mentioned in the article).


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