When it’s time to move your seasonal ‘toys’ into or out of storage for the summer or winter, what should you do with your insurance? If you are storing your recreational vehicle for several months out of the year it may be tempting to think about canceling your recreational vehicle insurance. After all, why pay insurance while it’s not being used, right? Wrong. There are several good reasons to keep your insurance policy active. The experts at Front Range Insurance Services explain below.
Canceling your insurance isn’t likely to save you money. Most seasonal recreation vehicles such as RVs, motorcycles, all-terrain vehicles, and boats are rate-adjusted for seasonal use in Littleton, CO, meaning that while your coverage is year-round, your premiums are based on the typical time frame the seasonal vehicle would normally be used.
Protection for your recreational vehicle while in storage. Just because your vehicle is in storage doesn’t mean your toy is safe. Risks such as theft, vandalism, fire, or storm damage can happen at any time. It’s important to have year-round coverage so that you’re protected against any possible damage or loss.
Liability protection. If you canceled your coverage and someone was injured on or while using your property, you would be held responsible for any injuries and their medical expenses.
Build your history of insurance. It is important to demonstrate that you have carried continuous insurance coverage over extended time periods without lapse for several reasons. Continuous coverage demonstration helps you build and maintain a history of insurance and a record of your claims status. Without that, your ability to get insurance in the future or to get the best rates available may be negatively impacted.
To learn more about your insurance for your seasonal toys during the off-season or winter months, call the Littleton, CO insurance experts at Front Range Insurance Services today.