Guide to Car Storage Insurance
Car storage insurance, also called comprehensive-only insurance, is a type of coverage that only pays for damage that happens when your car is stored.
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This includes things like theft, vandalism and water damage. But cars with only storage insurance on them aren't legal to drive. You have to remember to put liability coverage back on your car before you drive it.
What is car storage insurance?
Car storage insurance is a policy that only includes comprehensive coverage.
This means your car is covered for things that could happen while it's in storage. If someone spray-paints your car, for example, or something in your garage falls on it, the damage is covered. Cars with only storage insurance on them aren't legal to drive; you need to have liability insurance on your car to drive it.
If you need to file a claim, keep in mind that you'll have to pay your comprehensive deductible before your coverage will start. Some companies may offer deductibles as low as $0 to $100, but typically your deductible is between $250 and $1,000. You will choose your deductible level when you buy your policy, although you can change it at any time.
Remember, it's not legal to drive a car that has only storage insurance on it. That's because storage insurance doesn't include bodily injury liability or property damage liability coverage. These are the coverage types that most states require you to have in order to drive legally.
If you drive a stored car without putting the proper insurance back on it, you could be ticketed and fined. And if you cause an accident, you'll have to pay for the damage to your car, the damage to the other person's car and their injuries all yourself.
Before you drive a car that has only storage insurance on it, you have to add the proper coverage back to it. You can do this by calling your agent or company or making the changes to your policy online, if you can.
Pros and cons of car storage insurance
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Covers things that could happen while your car is stored
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Lowers your monthly rate when you're not driving
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Lets you avoid a lapse in coverage
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Doesn't give you coverage to drive
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Not all companies will offer it
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You may have to meet certain requirements, such as keeping your car in a locked garage
Can I cancel my policy if I'm not driving my car?
You can technically cancel your car insurance if you aren't driving, but it's not recommended.
Most states require that you keep insurance on your car, and if you cancel your insurance completely, you can't provide the Department of Motor Vehicles (DMV) with a policy number for your file. Plus, canceling your policy can make it harder to get insurance in the future, and you'll likely pay higher rates when you need coverage again.
Reducing your coverage to just comprehensive coverage is a much better option. It keeps your policy active and protects you from damage that might happen while you aren't driving your car.
What does car storage insurance cover?
Car storage insurance only has comprehensive coverage, which covers you for noncollision damage.
That includes damage caused by water, fire, falling objects or animals. But it's also important to know what car storage insurance doesn't cover. You won't have coverage for things like collisions or medical bills, which is why it's important to talk to your insurance company before you start driving your car again.
Covered
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Theft and vandalism
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Weather damage, including water or hail
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Fire damage
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Damage caused by animals
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Damage caused by falling objects
Not covered
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Damage caused in a collision
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Medical bills, for you or anyone else
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Wear and tear or maintenance costs
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The cost for a rental car
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How much is storage insurance on a car?
Car storage insurance costs between $27 and $51 per month, on average, depending on the deductible you pick.
The higher your deductible, the less you'll pay each month. But remember that with a higher deductible, you have to pay more if you file a claim.
Average cost of car storage insurance by deductible level
Deductible level | Monthly rate |
|---|---|
| $100 | $51 |
| $250 | $42 |
| $500 | $34 |
| $1,000 | $27 |
Average rates for a 30-year-old in Illinois.
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Your monthly rate also depends on the company you pick. Geico and Progressive tend to have cheap monthly rates for comprehensive-only coverage, while American Family and Farmers are more expensive.
If you're a military member, consider USAA if you're deployed or you need to store your car for another reason. The company isn't the cheapest, but its coverage is tailored to the needs of military members.
Comprehensive-only rates by company
Company | Monthly rate | |
|---|---|---|
| Geico | $27 |
| Progressive | $29 |
| State Farm | $30 |
| Allstate | $30 |
| American Family | $41 |
Average rates for a 30-year-old in Illinois with a $500 deductible. USAA is available only to military members, veterans and qualifying family members.
How to get car storage insurance
You can get car storage insurance the same way you get other insurance: by calling an insurance company or getting quotes online.
You might find that you can't get a storage insurance quote online from some companies. In that case, call the company directly or talk to a local agent to get a quote.
If you don't already have an insurance policy, it might be hard to get car storage insurance. Some companies may want you to have an established policy before they agree to take your coverage down to just comprehensive. Your best option is to insure your car with regular coverage before you need to store it, so you have a relationship with an insurance company.
Who might need car storage insurance?
Storage insurance isn't a good option for everyone. If you are only going on a vacation for a week without your car, for example, it doesn't make sense to drop your coverage down to comprehensive only. You should only consider storage insurance if you go for long periods of time without driving.
- People with seasonal cars: If you have a sports car that you drive in the summer, it could make sense to put comprehensive-only insurance on it in the offseason. Similarly, if you're a "snowbird" — someone who moves from a colder climate to a warmer one in the winter — you could store the car you aren't driving.
- Classic and collector car owners: People with classic or collector cars often don't drive them frequently. Getting a comprehensive-only policy lets you keep your costs down, and you can still put coverage on the car when you want to take it out.
- Military members or frequent travelers: If you're deployed or traveling for a long period of time, keeping liability coverage on your car might not make sense. Changing your policy to storage insurance saves you money.
- People restoring a vehicle: Vehicles undergoing restorations might not be able to be driven yet. Storage insurance covers the car for things that could happen while it's being restored, such as something falling on it or a fire breaking out.
How to properly store a car
If you aren't driving your car for an extended period of time, you should know how to store it properly to help lessen the risk of damage.
Clean your car. Washing the outside of your car before storage helps preserve the paint, and cleaning the inside helps ensure you won't come back to any odors or mess when you're ready to drive again.
Fill up your tank. Even though you aren't driving, keep a full tank of gas in your car. Keeping the gas tank full helps prevent moisture from getting in. You can add a stabilizer to the gas to help prevent any buildup.
Prep the car. First, disconnect your battery. Car batteries can be damaged if they aren't used often. Changing your oil can be a good idea, too. You might want to overfill your tires because they'll lose pressure as they sit. And you should cover your car's openings, including the tailpipe, with a rag or foil to keep bugs and animals out. Finally, don't put the parking brake on while your car is stored. It's better to use parking stops or blocks if you need to keep your car in place.
Tape a note on your steering wheel. Leave yourself a note to call your insurance company before driving your car. That way, it's harder to forget to put coverage back on the car before you drive. You'll get in, see the note and be reminded to call your company or make changes to your policy online. You can also include notes about reconnecting the battery and removing blocks from the tailpipe and other openings.
Choose a place and store your car. An indoor space works best. This usually means a garage, but you could store your car in any indoor space you have available. You can also rent an indoor space to store your car. Make sure you check with your insurance to see if there are any restrictions. You may be required to keep your car in a locked garage to get storage insurance from some companies.
If you can't store your car inside, make sure to get a strong and well-fitted cover. This will help protect your car from weather and UV rays. A cover will also help prevent rust by keeping your car dry. Covering your car can be helpful even if it's stored inside.
Call your insurance company. Finally, when your car is stored, contact your insurance company and ask to change your coverage to comprehensive only. You might be able to do this online, but you may also need to call your company or your agent.
Frequently asked questions
Does my car need insurance if I'm not driving it?
Yes, you often still need insurance on your car even if you aren't driving it. When you register your car with your state's Department of Motor Vehicles (DMV), you usually agree to keep insurance on the car. If you cancel your policy when your car is stored, you can't give the DMV an active policy number. And if you have a loan or lease, you may have to keep full coverage on your car.
Is car storage insurance worth it?
Storage insurance is often worth it. Changing your policy to comprehensive-only coverage drastically lowers your monthly rate, which saves you money when you aren't driving. Having storage insurance is better than canceling your policy entirely because it protects your car against the things that could happen while it's sitting, such as weather or animal-related damage.
How much does storage car insurance cost?
Car storage insurance costs between $27 and $51 per month, on average. Your rate depends on the deductible you pick, with lower deductibles resulting in higher monthly rates. Rates also change depending on the company you choose, what kind of car you have, where you live and your driving history.
Does car insurance go down if you put it in storage?
Because car storage insurance removes most of the coverage from your policy, your rates should go down quite a bit. You’ll have coverage for incidents such as theft and damage caused by animals, weather or items falling on your car, but you won’t be covered for collisions or injuries.
Methodology
Average rates for comprehensive-only coverage are for several large companies in Illinois. Rates are for a 30-year-old man with a 2015 Honda Civic EX, good credit and no accidents or tickets. Deductibles range from $100 to $1,000.
The info on how to properly store a car is from Kelley Blue Book.
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