So I signed up for a year of insurrance but I'm not even driving...

[KrillBee]

I signed up for a year of insurrance (because my agent convinced me it was such a good deal). This happened about 3 months ago.
2 months ago I decided that I'm going to try biking as much as possible.

I found that I haven't had to use my car at all in the last 2 months. I really see no point in paying insurrance on it. If I can go a whole year without using it I think I'm just going to sell it.

Would it be possible to stop my insurrance now? Or am I pretty much screwed and have to pay it for the rest of the year? I've been paying it monthly.

 

[slayer202]

idk, check the contract?

 

[KrillBee]

Western National is my company

 

[Kalvin00]

should be able to cancel it

 

[Jumpem]

Originally posted by: Kalvin00
should be able to cancel it

.

 

[sjwaste]

Originally posted by: KrillBee
I signed up for a year of insurrance (because my agent convinced me it was such a good deal). This happened about 3 months ago.
2 months ago I decided that I'm going to try biking as much as possible.

I found that I haven't had to use my car at all in the last 2 months. I really see no point in paying insurrance on it. If I can go a whole year without using it I think I'm just going to sell it.

Would it be possible to stop my insurrance now? Or am I pretty much screwed and have to pay it for the rest of the year? I've been paying it monthly.

I wouldn't drop insurance until you sell the car and pass the title. You can still be responsible for a loss even when not driving the car, trust me, it happens. Plus, I think if you dispose of the car then cancel the insurance, the next time you go to get a car and insurance, you wouldn't be rated with a lapse in coverage. If you keep the car and cancel, the lapse will probably increase your rate next time around.

But yes, as a regulatory matter, most if not all states allow you to cancel an auto policy mid-term and receive a prorated refund.

 

[bctbct]

think bigger

steal it, claim the loss, cancel the policy

 

[Nutdotnet]

Originally posted by: bctbct
think bigger

steal it, claim the loss, cancel the policy

Haha...preaching insurance fraud is pretty moronic.

OP- It's a good idea to keep some sort of insurance on it. Best thing to do is to go "comprehensive-only"...essentially protecting it from vandalism, or other things while parked. It's super-cheap.

 

[nageov3t]

you realize how f'd you'd be if you ever had to drive for whatever reason, right?

 

[Parasitic]

Switch coverage to liability only, keep the car garaged 24/7, and pray that for the few times you do use it you're extra careful.

 

[KrillBee]

Originally posted by: Nutdotnet

Originally posted by: bctbct
think bigger

steal it, claim the loss, cancel the policy

Haha...preaching insurance fraud is pretty moronic.

OP- It's a good idea to keep some sort of insurance on it. Best thing to do is to go "comprehensive-only"...essentially protecting it from vandalism, or other things while parked. It's super-cheap.

I'm already doing that and it is still about $800 a year. I've only had 1 speeding ticket in the last few years. I drive a mid 90s cheap sedan. I'm 24

Originally posted by: sjwaste

Originally posted by: KrillBee
I signed up for a year of insurrance (because my agent convinced me it was such a good deal). This happened about 3 months ago.
2 months ago I decided that I'm going to try biking as much as possible.

I found that I haven't had to use my car at all in the last 2 months. I really see no point in paying insurrance on it. If I can go a whole year without using it I think I'm just going to sell it.

Would it be possible to stop my insurrance now? Or am I pretty much screwed and have to pay it for the rest of the year? I've been paying it monthly.

I wouldn't drop insurance until you sell the car and pass the title. You can still be responsible for a loss even when not driving the car, trust me, it happens. Plus, I think if you dispose of the car then cancel the insurance, the next time you go to get a car and insurance, you wouldn't be rated with a lapse in coverage. If you keep the car and cancel, the lapse will probably increase your rate next time around.

But yes, as a regulatory matter, most if not all states allow you to cancel an auto policy mid-term and receive a prorated refund.

Thanks for the advice, I will take it into strong consideration.

 

[KrillBee]

Originally posted by: loki8481
you realize how f'd you'd be if you ever had to drive for whatever reason, right?

I don't understand why people think it's so necessary to own a car. Only in America do people think that way. If there is an emergency, why not just call 911? And if it's not a 911 matter, but still an emergency, there are always friends and taxis for the win?

 

[Jeff7]

Originally posted by: KrillBee

Originally posted by: loki8481
you realize how f'd you'd be if you ever had to drive for whatever reason, right?

I don't understand why people think it's so necessary to own a car. Only in America do people think that way. If there is an emergency, why not just call 911? And if it's not a 911 matter, but still an emergency, there are always friends and taxis for the win?

But if no one was buying cars, then that friend wouldn't have a car now would he?

Public transportation in the US sucks. The entire infrastructure was built based on individual transportation - everything is really sprawled out.
I grew up in a rural area. The only bus service was the school bus. Pizza delivery coverage started 10 miles away. I have yet to have a pizza delivered to me, despite having lived near a city for a few years now. But then, I'm cheap (monetarily efficient), and it just never seemed worth it just to get some food delivered to me.
Taxi service out there - also not going to happen, at least not at any reasonable price.
But then, like I said, everything is sprawled out. Were it not for cars, rural living wouldn't really be feasible.

 

[jlee]

Originally posted by: KrillBee

Originally posted by: loki8481
you realize how f'd you'd be if you ever had to drive for whatever reason, right?

I don't understand why people think it's so necessary to own a car. Only in America do people think that way. If there is an emergency, why not just call 911? And if it's not a 911 matter, but still an emergency, there are always friends and taxis for the win?

Because the United States of America is not filled with a massive public transportation network.

This is where I live. Walking/biking doesn't work too well year-round.

 

[Foxery]

Another concern - at least in my state - insuring a car is mandatory; you must turn in your license plates if you cancel it, and your registration is invalid until you renew all of it. (and pay for all of it again!) If the state's dept. of transportation thinks it's still on the road illegally, it fines you and threatens your license.

Lower your coverage to the minimum until you are certain.

 

[marvdmartian]

Originally posted by: Foxery
Another concern - at least in my state - insuring a car is mandatory; you must turn in your license plates if you cancel it, and your registration is invalid until you renew all of it. (and pay for all of it again!) If the state's dept. of transportation thinks it's still on the road illegally, it fines you and threatens your license.

Lower your coverage to the minimum until you are certain.

I can't say that the rules haven't changed in the 28 years since I lived there, but......

Being a native of NY state, the only mandatory insurance was liability, which insures the driver, not the vehicle. If you have a bank loan on the vehicle, then the bank most likely will require collision coverage (so it's paid off if totaled in an accident), and possibly will also require comprehensive (which covers damages from pretty much anything but an accident). However, I've never heard of a state government making those two mandatory, only the banks providing the loans (and watch how fast they'll add their grossly overpriced insurance to your loan, or repo your car, if your collision insurance drops!).

Forcing a driver to put collision &/or comprehensive insurance on a car doesn't seem right. Not that I'd put it past NY state, mind you, but it seems a bit much (especially when a lot of people I grew up around had shitbox beater cars they'd drive in the winter time, with no collision or comp insurance on it, to keep their nice vehicle from getting salted up underneath).

OP, do you have a loan on your vehicle, or is it otherwise mandatory for you to keep insurance on the vehicle? Like someone said above, drop those, and just keep your liability insurance.

 

[fstime]

Call and ask to only put coverage on the car so its covered if stolen or vandalized, thats what I plan to do when I leave the country, they will refund whatever money you save.

I have done it plenty of times. What do you think people do when they store their summer cars in the garage for the winter....

 

[KrillBee]

Originally posted by: marvdmartian


OP, do you have a loan on your vehicle, or is it otherwise mandatory for you to keep insurance on the vehicle? Like someone said above, drop those, and just keep your liability insurance.

I own the vehicle, I already have it on liability. It is still about $800 a year

 

[BoomerD]

If you're going to park the vehicle off the street, drop the liability and just have comp coverage. That should be MUCH cheaper. Liability is only required if the vehicle is on public roadways. (in most states anyway.) However, as has already been mentioned, in an emergency, you'd be illegal if you drove the car w/o the minimum liability coverage.

 

[alkemyst]

If you ever cancel your policy even if you no longer have a car, you will pay a much higher rate to reinsure yourself usually.

You will fall into a classification no differently than if you got cancelled. It's stupid but the way it works.

Most auto insurance forms have a questionarre that asks are you currently insured or if you had any lapse of coverage for more than X months in the past Y years.

 

[Spineshank]

Originally posted by: Foxery
Another concern - at least in my state - insuring a car is mandatory; you must turn in your license plates if you cancel it, and your registration is invalid until you renew all of it. (and pay for all of it again!) If the state's dept. of transportation thinks it's still on the road illegally, it fines you and threatens your license.

Lower your coverage to the minimum until you are certain.

Same way here in PA.

 

[HyTekJosh]

IIRC, most states require insurance companies to refund the unused pro-rated portion of $ if you cancel or switch policies.

That said, don't cancel if you still have property that is insurable -- simply modify the policy to lower it (ie: liability only).

 

[HyTekJosh]

Originally posted by: alkemyst
If you ever cancel your policy even if you no longer have a car, you will pay a much higher rate to reinsure yourself usually.

You will fall into a classification no differently than if you got cancelled. It's stupid but the way it works.

Most auto insurance forms have a questionarre that asks are you currently insured or if you had any lapse of coverage for more than X months in the past Y years.

That really stinks. I am probably moving into NYC for a couple of years and will not have a car or insurance for that time.

 

[pontifex]

Originally posted by: KrillBee

Originally posted by: Nutdotnet

Originally posted by: bctbct
think bigger

steal it, claim the loss, cancel the policy

Haha...preaching insurance fraud is pretty moronic.

OP- It's a good idea to keep some sort of insurance on it. Best thing to do is to go "comprehensive-only"...essentially protecting it from vandalism, or other things while parked. It's super-cheap.

I'm already doing that and it is still about $800 a year. I've only had 1 speeding ticket in the last few years. I drive a mid 90s cheap sedan. I'm 24

Originally posted by: sjwaste

Originally posted by: KrillBee
I signed up for a year of insurrance (because my agent convinced me it was such a good deal). This happened about 3 months ago.
2 months ago I decided that I'm going to try biking as much as possible.

I found that I haven't had to use my car at all in the last 2 months. I really see no point in paying insurrance on it. If I can go a whole year without using it I think I'm just going to sell it.

Would it be possible to stop my insurrance now? Or am I pretty much screwed and have to pay it for the rest of the year? I've been paying it monthly.

I wouldn't drop insurance until you sell the car and pass the title. You can still be responsible for a loss even when not driving the car, trust me, it happens. Plus, I think if you dispose of the car then cancel the insurance, the next time you go to get a car and insurance, you wouldn't be rated with a lapse in coverage. If you keep the car and cancel, the lapse will probably increase your rate next time around.

But yes, as a regulatory matter, most if not all states allow you to cancel an auto policy mid-term and receive a prorated refund.

Thanks for the advice, I will take it into strong consideration.

find a cheaper company? my 2004 saturn is fully insured for like $984 a year

 

[Foxery]

Originally posted by: marvdmartian
Being a native of NY state, the only mandatory insurance was liability, which insures the driver, not the vehicle.

Ah, maybe. I haven't looked into it in that much detail. Also have no idea where the OP lives. I took my pickup truck off the road one winter, but have since chosen to pay the insurance company instead of pay the DMV!

Cliffs: Check your local laws to see what your options are.