Safety is always a big concern for property owners. If you own a car, your goal is to preserve its value long term. But, sometimes you need to make some room at home. You may be thinking about vehicle storage. It’s a good idea to think through the process before putting a car into storage. And, Mooney Insurance is happy to answer all of your questions about it. Let’s take a look at some of the common questions people have about proper vehicle storage.
What Type of Storage Facility Should You Use?
The good news is you have numerous options. In Arizona, numerous companies are offering rental storage facilities. When choosing them, there are a few things to consider. First, be sure they are secure with ample security. You also want to be sure they offer climate control to help minimize the amount of damage due to heat. And, be sure they are pest-free. Rental locations that are best for:
- Large vehicles such as RVs you cannot store at home
- Valuable vehicles you want extra security for
- Long-term storage needs such as an elderly loved one’s car he or she no longer can use
Another option is to use your garage or that of your friend. Garages are okay if they are secure and waterproof. They can be a free option, which makes them attractive. But, you do need to take a few extra steps to protect the car. For example, be sure it is pest-free (use mothballs to help with snakes) as well as leak-free. This option is best for less valuable vehicles or instances when you need storage for the short term, such as for your college student’s vehicle. Also, consider this for motorcycles if you can ensure the bike is well protected.
What Type of Insurance Does a Stored Vehicle Need?
This is a loaded question for several reasons. First, as a stored vehicle it is no longer on the streets. This may change your liability requirements. But, if you drop your general liability insurance, never let anyone take it out onto the road. Even moving it from one area to the next can be risky. Liability is inexpensive, though, so maintaining the policy may be best.
Comprehensive auto insurance is a very good investment even for stored vehicles. What if a fire broke out? Or, if the location is vandalized, your car could suffer damage. In these cases, you want to be sure you have the proper amount of protection in place to minimize your losses. Comprehensive insurance is a low-cost way of doing that. Most drivers with a valuable vehicle should have this coverage. It is also a requirement under most loans and lease agreements.
Collision insurance is another area where you may be able to reduce your costs some. But, if you have a loan or a lease on the car, the lender may require you to maintain this coverage.
Are You Ready?
If you are thinking about storing your car, do a full check of the vehicle first. Top up the fluids, take out the battery, and add Sta-Bil or another type of gas stabilizing agent to the car. Consider other recommendations from your mechanic, too.
When you want to drive the car again, always call your insurance agent first. Even if you just move the vehicle, it is important to have coverage in place. Our team can work quickly with you to get a new policy in place to ensure you can get back on the road sooner than you thought was possible.
