Usually, car insurance policies provide coverage for vehicles on road against any kind of eventuality. Nevertheless, few drivers may realize that cars can even get damaged when they are parked and at times, the repair costs can be extensive. Insurance is available to get protection for a parked vehicle now.
If your existing auto insurance policy covers your vehicle when it is parked in garage/roadside, you may not need to buy separate parked car coverage. But if it is not covered, buying insurance for a parked car makes real sense. Such a prerogative can give you complete peace of mind.
For reducing possibility of theft, it is important that you park your car in a proper garage at your home especially when it is not in use. You will be required to park your vehicle when you go to job, shopping, during night time or when you are out station.
A comprehensive parked car cover will pay costs for damages resulting from the following situations.
You can select a deductible to keep premium low if you are planning to park car in garage long-term.
When some other driver’s vehicle crashes into your parked car then you can file claim under bodily injury (if you are injured) and property damage liability coverage with the at-fault driver’s insurer. The company will investigate your car repair claim and so, the settlement process will take a longer time.
Alternatively, if the at-fault driver is uninsured then you can file claim under your personal policy for recovering damages as also repair costs. But you will be needed to register a police complaint against at-fault driver and based on detailed report of subsequent investigation your insurer will settle the claim.
To make sure that your finances remain fully protected, it could be vital for you to take the following factors into consideration prior to exploring your parked vehicle insurance options.
Most of the insurers typically require drivers to store cars in in-house garage for a specified period of time. You can talk to a competent local agent to know more about the subject before thinking of switching over to a new insurer. However, if your vehicle is going to be parked for few days or even couple of weeks, there may be no need to change your auto insurance provider. Just check that your existing comprehensive/collision coverage features also protect parked cars. You can switch to a new insurer only if your vehicle is parked for a month or more.
Learn more about how much is parked car insurance quote by talking to an expert today!