Tip for when you suspend part of your auto insurance...

[BoosTT]

I could have had a serious issue…

I called my local insurance agent October 21st to cancel/reduce my auto and motorcycle insurance for over the winter as these vehicles are not driven over winter. I very clearly specified I want to suspend coverage beginning Nov 7th at midnight. Well, this weekend I received a letter in the mail stating my coverage was suspended per my request effective on Oct 22nd at midnight. The agent made a mistake and suspended my coverage the day after I called.

I was under the impression my vehicles were still fully insured until Nov, per my request. I was still driving them! If something happened I bet I would be SOL.

To sum it up… Don’t trust your insurance agents do what you ask. If you suspend your insurance do not let your agent know an advance. Who knows if they’ll do it correctly.

I’m pretty pissed as I left a voicemail to my agent on Sunday and still have not heard back. I tried calling again Monday, but no answer.

[michelle]

I emailed my agent to suspend insurance on two of the cars for winter. He confirmed back through email so I have a print-out of it. Can definitely see your frustration though!

[Wagonbacker9]

(Un)fortionately for me, the only insurance I could suspend, is on the car that has a lein on it... so, I get to pay full rate. Good food for thought for once its paid off though.

[BoosTT]

(Un)fortionately for me, the only insurance I could suspend, is on the car that has a lein on it... so, I get to pay full rate. Good food for thought for once its paid off though.

You can still suspend coverage for up 6 months at a time. Your insurance co needs to submit a lay up form.

[Wagonbacker9]

You can still suspend coverage for up 6 months at a time. Your insurance co needs to submit a lay up form.

Hm. I'll inquire with my insurance agent...

[05caddyext]

Depends on what bank holds your loan. Some require you to keep the insurance no matter what, even if you aren't driving it.

[GTSLOW]

It's pretty easy with USAA. One click of the button and I'm good to go.

[BoosTT]

Turns out the insurance agent can submit an error request if I needed to use my insurance... maybe I wouldn't have been sol.

[PB86MCSS]

I'm sure if something happened during that time span the agent could fix the issue, meaning put the vehicle as covered, being a misunderstanding. I'm fortunate that one of my best friends just so happens to be my agent, so it's easy to communicate (and he understands) when I make any changes. I used to do it frequently when my cars were all with Progressive, now the stored ones use Hagerty so no more stopping/starting liability/collision coverage. When I used to make changes I wouldn't tell them in advance, the day before or day of storage usually.

[Wagonbacker9]

Depends on what bank holds your loan. Some require you to keep the insurance no matter what, even if you aren't driving it.

Finding pretty much all banks stick by this policy. I've called 4 now.

[BoosTT]

Finding pretty much all banks stick by this policy. I've called 4 now.

I've done it with landmark credit union.

[Wagonbacker9]

I've done it with landmark credit union.

Seeing as my current loan is with southern lakes CU, I figured I had a chance. No luck.

[BoosTT]

I think you should try going through your insurance and not bank.

[Wagonbacker9]

I think you should try going through your insurance and not bank.

I contacted my agent. He said he'd be happy to process it. The problem is when the bank gets wind of the coverage being dropped, they force place insurance on the loan.

[Slow5oh]

my bank was ok with me putting "Storage" insurance on the car since it was not being driven and locked in a storage unit.

[BoosTT]

I contacted my agent. He said he'd be happy to process it. The problem is when the bank gets wind of the coverage being dropped, they force place insurance on the loan.

You not "dropping"" your coverage. You just take off everything but comp. The car is still 100% insured for what you use it for.

Did you use the term lay up form when talking with a bank rep? I always needed to specificly say lay up before I got anywhere with my bank. Sorry for keeping this topic going. I just wanted to share the info.

[Wagonbacker9]

You not "dropping"" your coverage. You just take off everything but comp. The car is still 100% insured for what you use it for.

Did you use the term lay up form when talking with a bank rep? I always needed to specificly say lay up before I got anywhere with my bank. Sorry for keeping this topic going. I just wanted to share the info.
Careless use of words, I'm aware that you're maintaining comprehensive coverage. I did use the term lay-up. Here is the verbatim reply I got:

"Unfortunately you do need to keep full coverage insurance on the vehicle. We do not allow you to have just comprehensive insurance.
We have a program that if you do not carry full coverage insurance we have force placed insurance that will be put on the loan."

[Dr.Buick]

When I had a car loan thre landmark or glaiser hills it was no problem, Just drop it to comp dont tell