How to Get Car Storage Insurance

January 27, 2012

Whether you are parking your vehicle overnight in a parking lot or for months at a time inside of a self storage unit, you will need some sort of car storage insurance to make sure the vehicle is protected while it is not in your possession. So, here is a guide on how to make sure your vehicle has adequate insurance protection while in storage or parked.

What You Will Need

  • A car to insure
  • Knowledge of how to get the proper coverage

Step 1 - Get Full Coverage Insurance

Most comprehensive and collision insurance, also known as full coverage, are offered for your vehicle while it is parked or stored. Some policies even provide coverage for vehicles that are locked in self storage units. To make sure your car is adequately covered, you should contact your local car insurance agent and ask if your policy includes the coverage needed to protect your vehicle in the event it is damaged while parked or stored.

If there is no coverage available under your present policy, you probably don't have comprehensive coverage on your vehicle and will need to purchase this if you are worried about damage that may occur when the vehicle is not in your possession. Before purchasing a policy, make sure to inquire about any special policy exclusions and inquire about the deductible that will need to be met in the event your vehicle is damaged.

Step 2 - Self Storage Insurance Policies

If you are storing your vehicle in a self storage facility or storage rental unit, you should ask the staff if they offer insurance coverage on personal belongings kept in the storage units. Many storage unit companies do offer coverage for personal belongings; however, you need to review the policy offering carefully because there may be limits on the amount of damage that may be covered for your vehicle if anything occurs in the storage unit. Also, some storage unit rental insurance policies may offer only limited coverage for automobiles and may not pay out if you don't maintain full coverage on the stored vehicle. Sometimes, the coverage only covers the deductible for your comprehensive and collision policy - so make sure you read the fine print on the storage unit before signing up or paying for the coverage.

Step 3 - Check Parking Lots for Temporary Coverage Machines

Some large parking lot companies now offer temporary coverage for cars parked in well lit and guarded parking lots. You can usually purchase this type of coverage from a vending machine located in the parking lot itself or from the lot attendant station. This type of coverage is usually very limited in the types of damage it will cover and the amount of protection. However, the coverage is usually available for a reasonably low daily rate and may even be purchased for one or two-hour protection in some circumstances. When parking in large lots in major cities, ask the attendant or guard on duty if there is a vending machine available or if the coverage is offered.