Do I need storage insurance?

So I just payed off my motorcycle. I was planning on canceling my Allstate insurance until next spring. I called to cancel and my insurance agent said that if I just drop my insurance until spring, I will have to pay “high risk” (30% higher) insurance when I start again. He told me I should just go on storage insurance over the winter so that doesn’t happen. I asked him why I would be “high risk” if I wasn’t even under their insurance at the time. He told me that all vehicles were required by law to have insurance all the time, even if you didn’t owe any money on it.

By “storage insurance” he may have meant a clause that suspends the liability coverage, but doesn’t cancel it, and keeps the fire/theft or comprehensive coverage during the winter months. I wrote several cycles with exactly that clause as an agent. Check with the agent and ask; that’s what he’s there for.

When adding a new car to an auto insurance policy, you need to state the purchase price, how is this used?

If I got a good deal on a car and it is actually valued at much higher, should I write the market value or the actual price I paid. The difference is considerable, since I bought it from a friend.

I’ve never seen a carrier ask that… they usually just use the VIN to determine the value. But just using the VIN can be inaccuate as it does not account for any options on the vehicle. Perhaps this is why they are asking.

In any case, I can only see this information used to determine what to charge for comprehensive and collision coverage (damage to your vehicle). So giving that low, low number should work to your advantage. They _won’t_ use this amount if they ever have to pay out on your vehicle is it’s a total loss… the policy states they pay the “Actual Cash Value”. Again, they _will not_ use what you paid as one vehicle does not make up a market value.

To go back to why they want the info… I still am not sure why they would want this info. I mentioned above to better understand its value but what someone paid for a vehicle is not a good indicator (which goes back to why every carrier I know of just uses the VIN). People pay way to much for some vehicles (bad credit adjusts the price, etc) and other people way too little (bought from an uncle for $1, etc).

You may want to ask your agent how they use this info and/or why they ask.

Statute of limitations on in Alabama?

Need to know if anyone knows the statute of limitations for settlement by an insurance company for an auto accident that was the other party’s fault? Thanks

I believe it is 2 years from the date of accident in Alabama.

Auto Insurance discount along with online traffic school course?

I got a traffic ticket, want to remove it. I heard some where that online traffic school course offers auto insurance discount along with traffic ticket dismissal. Can any one suggest me the source where I can get information on this?

For the most part the traffic ticket dismissal course is not the same one to get an insurance Discount. The dismissal course is longer and more thorough regarding laws, and signs, and DUI and all that Jazz. The course for getting a discount is usually called a Defensive Driving course where they go above and beyond the basics of traffic school and tech you the skills necessary to avoid accidents and stay safe. This site offers a Insurance Approved Defensive Driving Course for Discounts. http://www.getdefensive.com