I haven’t driven my car since moving to the city and I’m stuck paying a hefty car insurance bill. Any suggestions?
Hey everyone,
I relocated to a big East Coast city for work in October and left my car with my mom to avoid the minimum $350 monthly parking fees here. However, I’m still shelling out $160 a month for GEICO insurance. I’m hesitant to put the car in storage because I might take a few trips once the weather warms up, but it feels ridiculous to pay so much for a car I use less than three times a year. I feel like GEICO has me trapped. Does anyone have any tips?
It sounds like you’re in a tough spot with the costs of maintaining your car while you’re not using it much. Here are some options you might consider:
Contact GEICO: Reach out to your insurance provider and explain your situation. They may have options for reducing your premium, such as switching to a policy that offers minimum coverage or a low-mileage discount. Some insurers offer significant discounts for policies that cover vehicles that are rarely driven.
Consider a non-owner car insurance policy: If you plan on using your car infrequently but still want to keep it insured, a non-owner policy might be a cheaper option. This type of insurance covers you when you’re driving cars that aren’t yours and may have lower rates compared to full coverage on your own vehicle.
Storage insurance: If you don’t want to keep your full coverage, look into storage insurance. This is a policy that offers reduced coverage while your car is not being driven and can result in significant savings.
Renting or car-sharing: Since you’re not using your car that often, consider using rental services or car-sharing options when you do need to drive. This can often be cheaper than keeping a car insured and maintained that you rarely use.
Evaluate your usage plans: If you anticipate that you’ll be taking your car out more frequently in the coming months, it might be worth holding onto your current policy just a bit longer. Planning a few trips soon could justify the expense in the short term.
Ultimately, it’s all about weighing the costs of insurance against the frequency of your potential trips. Good luck!