Americans looking for ways to slash monthly expenses often consider dropping their car insurance coverage. For motorists who own vehicles they rarely use during off-season, paying for full insurance coverage can be a waste of money. Fortunately, car owners can now opt for a new coverage option.
Many businesses flourish during specific seasons only. Snowplowing businesses take off during winter but for the rest of the year, most trucks and vehicles lie unused in their garages. Many business owners contend that paying for full coverage while their vehicles are not even on the road can be a huge drain on their financial resources.
Conversely, ice cream trucks are useless during winter. For several months, vendors have to park their trucks inside their garage and wait for spring to arrive. However, they still have to pay for insurance.
Experts say that owners of vehicles rarely used during off-season can avail of special insurance coverage to save money.
Car owners can choose to have only comprehensive coverage for their business vehicles during off-season. This means that the vehicle will only be protected against falling tree branches, vandalism, theft, and natural events like hail. According to experts, this particular option is suitable for vehicles that are never driven during off-season, even for personal use.
Policyholders who avail of comprehensive coverage for their cars can also keep continuous insurance in case they decide to use their vehicles. Several insurers provide special coverage for car owners who occasionally use their business vehicles for personal trips. Experts advise car owners to inform their insurers about any plans to use business cars for pleasure. Insurance firms can then adjust the coverage to reflect personal use instead of business use.
Basically, using vehicles registered for businesses during off-season can void an existing insurance policy. However, more and more insurers are offering modified coverage to provide protection to drivers who use their business vehicles sparingly during off-season. This allows for far less costly insurance without sacrificing protection and coverage.
Experts also advise car owners against dropping their coverage during off-season. They add that getting a new policy when the in-season arrives can be very expensive. This is because most insurance companies require proof that the vehicles have had continuous insurance. Failing to present proof of insurance can mean higher premiums.
The best way to save money would be to consult local insurance agents about any offers. For faster quotes, motorists can also visit websites that offer free quotes services.