Hi. My mom had recently crashed my car and the person at fault has their insurance company investigating the claim. I was in the process of looking for a new car so I acquired one fairly soon after the crash and put that car onto my current policy. I would be paying double the amount I was paying with one of the cars being wrecked and not driven. Is it a bad idea to take the wrecked car off my policy to not have to pay the extra hundred or so dollars? Should I pay the higher rate for this month and wait for the claim to be completed or can I take my old car off the policy? Would it affect the claims process since technically the car was insured during the actual accident?
Taking a car off a policy that’s while under a claim?
byu/ImportanceWise3446 inInsurance
Posted by ImportanceWise3446
2 Comments
Cancelling coverage on the involved vehicle will not affect the claim since claims are based on the coverages active on the accident date, but double check with your agent for better options. Maybe you can pause/suspend the crashed car’s insurance so you aren’t paying to insure a car you can’t drive. If/when the claim is resolved and repairs are done you can easily reactivate coverage on the crashed car.
Surrender or transfer the plates/tags of the vehicle. So long as you do so, and you yourself are insured still along with any other vehicles you are the registered owners of, you’ll probably be fine. You can opt for a storage-type policy for the vehicle, but so long as it’s stored in a place where an additional loss is highly unlikely to occur, you should be fine.