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My car no longer runs. Should I cancel my insurance on it?
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My car no longer runs. Should I cancel my insurance on it?

My friend suggestted that it might not be wise, because when I get another car in 5 months they will charge me more for insurance if I was not insured for a long period of time. His logic was that it's a red flag to insurance co. They think you were driving without insurance or totaled your car. Even though my car just died on it's own.
Additional Details
Another wrinkle to the situation is that I do not get any service from my current car insurance company. They have lied to me so much that I don't trust what they say. So I don't want to ask them about the what I can do with them because I plan to drop them regardless. I think I'll call Gieco and see what they say about lapse insurance.


    




db.nisely
dont cancel..but be sure you will have another auto or mode of transportation..switch your insurance to the alternate vehicle..if not, cancel...then start weighing the value of public transportation...explain the situation to your insurance rep..
if its a problem ...cancel.then when you obtain another auto...obtain another insurance company.


dancexxxdance007
duh... thats wasting money.. and when you get your new car you'll be fine,,, no extra charges i did the same thing


RockyFella
I would call my insurance comp..and ask them.. why pay for a car that doesnt work..and also call the car insurance and tell them you no longer need insurance for that car cuz its dead..They wont hold that against you..then if you dont get a car soon you need to turn in ur plates but talk to them they will help you.


QueenBeeCan
Yes, immediately and notify the tag office so that you will not lose your license for canceling you auto insurance


dsaf f
Rating
What are you going to do with the car? Maybe you can donate it to a charity or sell it so you can have a receipt that says you haven't owned it since this date, which should get rid of the red flag. I really don't know the answer to this question, but its a shame we all have to live in fear of the gun that the insurance companies always keep pointed in our faces


Amy Vicious
Rating
No it's perfectly fine and logical to cancel your insurance on a car that no longer runs. If you're really that worried about it then call your insurance company and explain everything to them.


almckee97
Rating
I would drop it. Why pay for a car that you can't use? I would also try to sell it. There are many teenage guys that would buy it and fix it up.


Darkwolf
Rating
Talk to your agent. your friend may be mistaken, and it's better to be sure.

When my car died (engine siezed), I called my insurance agent the next day (it was Sunday when it happened) and asked what to do.

Granted, I had a new car within 2 weeks, but we just had the insurance suspended, meaning I couldn't drive the car (no biggie, as the car was in a big cube within 2 days), but they applied the payment on insurance I had JUST made to the new car's insurance.


trish
talk to your insurance agent about it. They will shed some light on it, plus i don't think that's waht they set the rate based on.


mcdonaldsnuggetaustin
Rating
call around and check, Who knows you might save some money.


cutelilangel_69_5000
Rating
cancel it


Simon S
Rating
well here is the thing if your car is dead and can not be fixed call the junk yard get 50 bucks and cancel your insurance an insurance can not hold it against you if you do not have the car.


RSJ
Keep the insurance- raise the deductible so your monthly premium is as low as possible.


blazerang
Keep it just in case. You never know if a tree may fall on it or some other thing that you won't want to pay for.


Julie6962
It depends on what state you live in of course, but insurance generally has to be maintained on all vehicles at all times. You have to register it as "junked" with the vehicle lisencing department in your state before you can drop the insurance.


Paul
Ins co's get real nervous when you stop and then restart coverage, as your friend says. Keep it covered, but only carry the comprehensive in case there is fire or other damage. drop everything else if you can.


joyceeleann
Rating
If you get a NON op slip from the dmv on the car first and present that to the insurance company, it is likely the insurance company will give you a low flat rate for the vehicle since it is not moving on the streets. Then you can change your policy when you get the new car. Its still good to have it covered since the car will still have value even if it is not running.


warrenwhyte2008
Rating
best thing to do is call ur insurance company


The Loan Arranger - ABQ, NM
Rating
A couple of things you need to think about.

1. If you owe money to a finance company on your auto, you are required to carry at least liability insurance on your car.
This protects the equity in the auto for your finance company.
2. If you allow your insurance to lapse, when you apply for insurance again, they will run a credit report etc. This indicates your reliability and ability to share your financial burdens.

Think about these things and then, you decide.


Kitten
duh - yes! They will only charge you if you were without of insurance but had a car. You can sell it or junk it and show them the receipt. If you communicate with the insurance company then they will work with you. If you cancel and instead of them that is different. You only need to keep it if the car is still in your possession. I wouldn't be paying insurance on a car I'm not driving forget that! That money can go towards your downpayment. I don't agree with your friend on this one.


riviva
Rating
cancel it. tell the insurance company your situation, so that when you restart they'll know the situation.


eedoonan
I say cancel it. Why pay for something you're not using? Tell them you no longer have a car and then get your money back if you paid ahead or just don't pay any more. I don't think you'll get penalized when you get a new policy. If you do, go to a different company. I know Geico doesn't care.


italy_coolfun
Rating
Your friend is right. Just keep it insured with the bare minimum of coverage. If you cancel it and then go to get insurance, they consider you high risk because you went without insurance for a period of time.


nowyouknow
Rating
Your friend is correct on this matter. My husband and I actually cancelled our insurance on a car that quit running. BIG MISTAKE!!
Some insurance companies would not even consider coverage for us, and we finally had to go to a high risk company.

Please, keep your coverage. You might be able to add a higher deductible or just carry the essential coverages prescribed in your state, but keep some coverage. You won't regret it.


Africanprincess
Rating
keep your insurance on your car, or else you will pay more in the long run


anticone
Rating
No, cancel it. No reason to make car insurance payments on a car you're not driving.





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