I am moving to NYC within the next couple of months. I am selling my car before I move and I am curious as to whether or not I should keep sometime of insurance. I have heard that if I drop all insurance and decide to buy a car again I can be listed as a “high risk driver”. Is this true?
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March 9, 2010 @ 5:43 am
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March 9, 2010 @ 6:37 am
yes
March 9, 2010 @ 7:06 am
rtyu
March 9, 2010 @ 7:17 am
i am also selling my car does anyone need it?
March 9, 2010 @ 7:35 am
many states reqiure insurance long as its on road or you have tags best to keep it on car til day you sell it if its between tiem you pay that money they wil give you back once you call them and let then now its been solded
March 9, 2010 @ 7:55 am
keep insurance on it until it is sold
March 9, 2010 @ 8:20 am
You have to keep insurance until the car is sold. After that you cancel it. I don’t know where you got the idea about being a high risk driver.
March 9, 2010 @ 8:34 am
If you are no longer driving the vehicle, you don’t have to keep it covered with insurance. Most insurance companies also have a vehicle storage policy. I have this on my pickup. I call up the office when I wish to use it – usually leave a voice message – and then call up again after I have parked it. It only costs me $100 per year and it doesn’t seem to matter how many times during the year that I drive it.
When you sell your car, make sure that you transfer the title prior to giving the new owner the keys, because if you don’t have insurance it at time of sale, and the other driver has an accident prior to transfer of title, you could be partially or completely liable.
I think the policy of placing a driver in a high risk category if they do not carry insurance, only applies if you have a long lapse, perhaps 5 years or so without coverage. But you can easily walk in or email your insurance provider and find out if they have such a policy.
March 9, 2010 @ 9:33 am
As long as you are not driving it you don’t have to have insurance on it, however, if you are not insuring another car you will be considered a high risk person to insure because you have gaps between your coverage. They will ask you why cause they assume you just drove without insurance. If i were you I would put storage insurance on it if it isn’t being driven. Should cost you around 20-30 a month. That way you have insurance and there is no gaps in coverage as long as you insure another car within a couple weeks. If you are not planning on having a car in NYC then the insurance gap is easily explainable when you do decide to get a car so then you have no worries.
March 9, 2010 @ 9:48 am
You will be AT RISK as long as you have the car. Sell the car then cancel insurance, you are now a conscientious driver, buy another car and more insurance.