How will not driving my car for an extended period of time affect my car insurance rates and policy?
If you don't plan to drive your car for a certain period, you may be able to pause your auto insurance policy, but it depends on your state's laws, insurer's rules, and auto lender's requirements.
Stopping your coverage entirely may jeopardize your finances if you're involved in an accident or need to make a claim, as insurers may see drivers with a coverage gap as a higher risk to insure.
If you don't plan to keep registration or insurance on a vehicle you don't drive, you'll need to find out from the DMV where you can park this car, as unregistered and uninsured cars are not allowed on public roads.
The maximum penalty for the first offense of not having insurance on a vehicle can be up to $400 per vehicle.
Driving less means you're less likely to get into an accident, file a claim, and cost your insurance company money, but despite this, you may not see a significant decrease in your insurance rates.
On average, drivers 70 and up pay $2,495 a year for full coverage, about $112 more than 50-year-olds and $187 more than 60-year-olds.
Farmers Insurance offers a 10% mature driver discount for drivers 65 and older who complete a defensive driving course.
If you're not planning to drive, you may be able to save money by pausing your policy, but stopping your coverage entirely may increase your rates in the long run.
In some states, driving without car insurance can result in a fine ranging from $100 to $1,500, license suspension, and even jail time.
If you're caught driving without insurance, your license or registration can be suspended, and your vehicle can be impounded, adding extra costs to getting back on the road.
Driving without insurance can be considered a misdemeanor or even a felony in some cases, with jail time ranging from 10 days to a year.
Certain medical conditions, such as heart conditions, sleep apnea, vision issues, chronic mental health issues, and neurological conditions like epilepsy, Parkinson's disease, and dementia, can affect your car insurance rates.
In some states, taking a defensive driving course can help reduce any points you may have accumulated on your driving record for traffic citations, which can lead to cheaper insurance rates.
Many insurance companies offer discounts for drivers with certain medical conditions who take specific precautions or complete certain courses.
Your car insurance rates can be affected by your credit score, with a good credit score leading to lower premiums.
Insurers use complex algorithms to calculate your premium, taking into account factors like your driving record, credit score, age, and location.
You may be able to save up to 25% on your car insurance premiums by bundling home and auto insurance.
The distance you drive can affect your insurance rates, with drivers who drive fewer miles per year typically paying lower premiums.
Your occupation and education level can also impact your car insurance rates, with certain professionals and graduates of certain universities receiving discounts.
Some insurance companies offer usage-based insurance, which tracks your driving habits and rewards safe driving with lower premiums.