Insurance on your summer car year round?

[Cos]

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[guessboi]

The choice is yours. I can make that change instant.

If you don't want the hassle, leave it on. You won't save a whole lot any ways being $750.00/yr and you can drive whenever you want.

[Cos]

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[jjmac]

Mine is fully insured all year round even when parked.

I just have to let TD know in the winter time that it's parked and that I won't drive it (I wouldn't wanna drive it during our harsh winters anyways)

Then I call them again on spring when it's nice out to tell them I'll be driving my car now and they reimburse me, I believe 90% of what I paid for up to that moment.

Call TD Meloche Monnex, they'll be able to give you the full details of this option.

[Cos]

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[jjmac]

Just called them, and it's called Suspension of Coverage.

Hope this helps you out.

[Cos]

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[Masked Bandit]

Originally posted by jjmac
Mine is fully insured all year round even when parked.

I just have to let TD know in the winter time that it's parked and that I won't drive it (I wouldn't wanna drive it during our harsh winters anyways)

Then I call them again on spring when it's nice out to tell them I'll be driving my car now and they reimburse me, I believe 90% of what I paid for up to that moment.

Call TD Meloche Monnex, they'll be able to give you the full details of this option.

I want to make sure I understand this correctly. You call in the fall to let them know that the car is parked for the winter but you still pay full rate all winter long. Then in the spring you call again to say that the car is back on the road. Meloche Monnex then calculates how long the vehicle was actually parked for and refunds you credit in the spring?

You pay all winter and then they give you some money back? Why not just keep the money in your pocket all winter long and reinstate coverage in the spring?

[jjmac]

Originally posted by Masked Bandit


I want to make sure I understand this correctly. You call in the fall to let them know that the car is parked for the winter but you still pay full rate all winter long. Then in the spring you call again to say that the car is back on the road. Meloche Monnex then calculates how long the vehicle was actually parked for and refunds you credit in the spring?

You pay all winter and then they give you some money back? Why not just keep the money in your pocket all winter long and reinstate coverage in the spring?


From what Meloche told me, the reason for full coverage during winter is just in case someone decides to crash into my garage and destroy my car, it'll be covered under collision insurance because fire and theft won't cover that.

Like this guy

http://forums.beyond.ca/st/329164/tow-of-the-week-/

So to play it safe, I just keep it, then they reimburse it back if nothing happens.

[Masked Bandit]

Good gawd that's a brutal crash...lol.

The other guy's liability coverage would take care of the damages. Unless of course it was a stolen vehicle.

I think they just like holding onto your money all winter (keeps them warm). There is also the hope that you forget to call in the spring and they refund you nothing. It's a good strategy from their point I guess.

[jjmac]

Originally posted by Masked Bandit
Good gawd that's a brutal crash...lol.

The other guy's liability coverage would take care of the damages. Unless of course it was a stolen vehicle.

I think they just like holding onto your money all winter (keeps them warm). There is also the hope that you forget to call in the spring and they refund you nothing. It's a good strategy from their point I guess.

Ya that is brutal.

And I can understand them wanting my money, insurance is insurance (no offence)

And they can hope as much as they want but I would never forget cause I always get excited taking out the summer car LOL

[Xtrema]

Originally posted by jjmac
Just called them, and it's called Suspension of Coverage.

Hope this helps you out.

Isn't this only possible if you have more cars than driver's license within a household? Or did AMA bullshit me.

[Masked Bandit]

Originally posted by Xtrema


Isn't this only possible if you have more cars than driver's license within a household? Or did AMA bullshit me.

Yep.

We've got policy holders with one driver & one vehicle, guy goes out of town for a couple of months (overseas for example) and we reduce coverage to comp only (parking insurance) while he's gone.

[Cos]

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[Twenty]

Probably a good move. With the weather the way it is I've been wanting to bring home the other car, but first I have to arrange for insurance and then a second driver. It'd be so much nicer to just be able to drive it when I want.

[cream]

@jjmac

Are you sure it's not parking insurance? I'm with TD as well and I do exactly as you describe. (used to). But it wasn't full premium, its a very discounted rate and will cover if someone crashes into your car. But I got cheap and since I have a garage spot now, I take off insurance completely.

[Bobino]

I have my car with fire and theft on it over the winter, while I drive my beater. When a nice weekend is forecasted, I just call my broker and have her put full coverage on the car for the weekend. My insurance is about $220/mo for my summer car to have full coverage, so leaving it on all winter is not really an option in my situation.

[jjmac]

Originally posted by cream
@jjmac

Are you sure it's not parking insurance? I'm with TD as well and I do exactly as you describe. (used to). But it wasn't full premium, its a very discounted rate and will cover if someone crashes into your car. But I got cheap and since I have a garage spot now, I take off insurance completely.

I'm sure, I do it every year. I don't mind doing it because of the reimbursement or insurance credits.

I'm sure they have 100+ different kinds of policies for different client situations, so I wouldn't be surprised if yours is different from mine.