Do you have more cars than drivers living in your home? If so, you may question the need for insuring each and every vehicle – especially one that does not get used very often.
While you may believe this to be a great way of saving money, it is a big risk. Not to mention the fact that it is illegal to drive a car that is not insured.
Most states require that you have liability insurance coverage on every car that you drive, no matter how often you take it onto the road. Simply put, if a car is registered you are required to buy insurance.
What is this a big deal? If you only use the car here and there do you really need to buy insurance? Again, the answer is yes. You never know when an accident could happen.
Accidents Can Happen at Anytime
It is called an accident for a reason. Even though you may not be the cause of the accident, when you are involved you will be asked to exchange insurance information. It only takes one minute on the road for something bad to happen.
Believe it or not, your car could be damaged even if it is sitting in your driveway. A hail storm could blow through your area, a tree could fall over during a storm, or a reckless driver could lose control and come onto your property. If your parked car is not insured you are taking a risk.
Take Advantage of a Multicar Discount
The less you drive your car the more affordable it will be to insure. Along with this, most car insurance companies offer a multicar discount. This means that the more cars you insure the less money you will pay for coverage.
Note: If you own a car that is 100 percent inoperable, you may not need insurance coverage. Of course, you should still check on this with your insurance company.
It is easy enough to insure one vehicle. However, as you add more to your fleet things can become confusing. Along with this, your monthly premium payment will increase.
If you own multiple vehicles, there are three things you can do to save money on coverage:
- Compare rates from multiple car insurance companies. When doing so, make sure you include all of your vehicles in the quote.
- You should be 100 percent sure that you are receiving every available discount. The only way to do this is to communicate directly with your agent.
- Old cars that don’t get driven a lot may not need as much coverage. Why not put a high deductible on your oldest vehicle? Along with this, you may be able to drop some coverage if a car is old or does not get driving on a regular basis.
You may be tempted to buy insurance for the vehicles you use often while skipping coverage on those that don’t see the pavement on a regular basis. However, this is not the best way of thinking.
If nothing else, let this one tip guide you: if your car is registered with your state you need to buy insurance.