insurance ?'s

[I was fast]

anybody know if you can just put storage insurance on a vehicle if you can prove it is stored even though there is a loan on it?

[Video_Master]

That is what I am doing.

[5SpeedFox]

I thought if you had a loan on it, it had to be full coverage till the loan is paid off?? Thats what My insurance guy told me i'm pretty sure...

[I was fast]

thats what i thought to

[Sleeper]

yeah thats right, but i never had any problem suspending the ins until it came out in the spring.

[NOTNSS]

I thought if you had a loan on it, it had to be full coverage till the loan is paid off?? Thats what My insurance guy told me i'm pretty sure...

I've had plenty of loans where the bank has allowed me to carry only 'storage insurance' provided it really is in storage. Never been a problem.

[Outrun]

As long as it’s in storage, you can put comprehensive on it which is like having full coverage on it if fire, vandalism, or any other fucked up shit happens. But if you start driving it without putting it back to full coverage, expect them to tell you to fist yourself if you get into any shenanigans.

I pay 50.00 on my car for full coverage, and 6.00 a month for comprehensive.

[CCr]

It kinda depends on the bank I'd think. since the car is their collateral. some small town credit unions will allow liability on some loans.

[I was fast]

this is through wfs financial, i called my insurance company but they told me to call them. now im put on hold for the 3rd time!! i dont think this girl understands what im saying

[YouNeverSawMeHere]

No... you signed an agreement when you purchased the car that you would hold full coverage on it for the entire length of the loan. By dropping the insurance on it from full to storage you are breaking the contract therefore your ride can be reposessed.

[I was fast]

so they tell me if i can provide "proof" that it is in storage we can drop it to comp only.

[SwtNsxy95]

You should be able to call the Bank, and say my car is in storage and I want to put "storers insurance" on it. what information or paper work do you require?
Ive done it every year with my banks and credit unions. they will keep the comp on it incase of fire/vandals/theft. but take off collision.

so take a pic of miles on the car....and put it in the garage with a cover on it and take a pic..

[Nifty]

No... you signed an agreement when you purchased the car that you would hold full coverage on it for the entire length of the loan. By dropping the insurance on it from full to storage you are breaking the contract therefore your ride can be reposessed.

Bullshit. I always had storage insurance on my mustang in the winter when I was paying it off. For Wells Fargo, I just had to tell them the physical address where it was being stored and what date I was putting it in storage and when it was coming out of storage.

[Stormwalker]

so they tell me if i can provide "proof" that it is in storage we can drop it to comp only.

Too bad there's not a bunch of snow on the ground yet. You could send a response to the request of "proof" in the form of a picture of a snowbank.

[I was fast]

hahah that would be good