Reader’s Question:

I go away during winter to Wichita, Kansas and I don’t bring my car. Is it possible to get my car insurance suspended to save money when I don’t use it?

Harry

Wichita, KS

I understand your concern on saving money for car insurance since you won’t be using your car when you go to Wichita, Kansas during winter. Most states mandates all registered vehicles to carry a minimum amount of insurance coverage, so suspending your coverage may also mean dealing with all the hassles of suspending or canceling your registration (and reinstating it when you return). And even if the state does have a system that allows this, your car insurance company may or may not be willing to allow you to suspend part of your coverage temporarily. You’ll need to contact your auto insurance company and ask to find out for sure. One more important consideration: if you have an outstanding car loan on your car, the terms of the loan probably require that you keep the car fully insured. You have to check your loan documentation carefully before you take steps to suspend your car insurance coverage.

Maybe your insurance company is unwilling to suspend part of your insurance coverage, and you think there’s little risk that your vehicle will be damaged or stolen from your garage while you’re gone. Whatever you decide to do, don’t think that you can simply stop paying your insurance premiums, let the insurer cancel your policy, and then purchase a new policy when you return from your winter vacation in Florida. A canceled insurance policy will show up on your credit report and can make it extremely hard and expensive for you to get another car insurance coverage in the future.

Tags: auto insurance