What happens to my insurance premium if I stop owning a car for a period of time?

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martha95355	Technically the longer u stay with a company in each renewal they offer u a better quote or rate. If u stop owning a car for a while whenever u get ur insurance again make sure u get a letter of experience from ur old company and that way ur new insurance carrier will give u a good driver discount. Was this answer helpful to you? Yes / No

chocolate-drop	Well if you don't own a car, you shouldn't be paying insurance - there's no car to cover. It shouldn't have any affect on your premiums. If it does, you might was to consider another insurance provider. It would only matter if you went 6 months WITH a car with no coverage. Was this answer helpful to you? Yes / No

reesspieces	It's up to you to suspend or cancel your policy. If the insurance company is unaware that you no longer own a car, they'll continue to bill you. It's like cable. They'll keep charging you a monthly bill until you cancel your service and have it disconnected; it makes no difference whether or not your TV is working. Was this answer helpful to you? Yes / No

aout	I was in a car accident this summer that totalled my car. I wasn't sure if I was going to get another one. My insurance agent told me that if I wasn't, I should still keep insurance. By being a secondary driver on one of my parents car for example. She said that if I stopped my insurance coverage completely, that when I do start up again, I will be considered a new driver. The best thing would be for you to speak to your insurance agent though. It might be different if you go back to them. All companies are different. Was this answer helpful to you? Yes / No

Star G	If you go without insurance for 6 months or more, you go into the 'High Risk' pool and pay higher premuims for the first year or two. Was this answer helpful to you? Yes / No

gig	Nothing, if you keep paying the premium. Insurance companys love people who pay premiums on items such as cars etc. and dont even own one. Stop paying and your policy gets cancled. Was this answer helpful to you? Yes / No

Mom	If you drop your insurance for more then 3 months you have to pay a penalty when you sign back up with insurance. This happened to my son. He sold his car and didnt buy another for almost 6 months and had to pay double the first premium, even though he had a clean record. Was this answer helpful to you? Yes / No

Classy Granny	I hope I understand. If you don't have a car right now, notify your insurance company and they put you into temporary suspension. No premium will be due. When you get another car, your premium will be adjusted based on what kind of car you get. Your premium is not going to be raised just because you aren't driving right now. Was this answer helpful to you? Yes / No

mei-lin	some companies will not write you at all - others will write you but the premium would be higher than if you'd had prior insurance(at least 6 months). Now you may say this is not fair, but from the company's standpoint, they don't have a way to tell if you are a careful driver or not. Yes, it would be an interruption and you would most likely be treated as no prior ins. Was this answer helpful to you? Yes / No

Logan Friedrich	MY MOM DIND'T PAY FOR HER CAR AND AFTER A WHILE WELLS FARGO CAME AND TOOK IT SO YOU HAVE TO PAY IT OR THE COMPANY WILL TAKE THW CAR AWAY IF YOU DON'T START PAYINE THEM SOON BECAUSE MY MOMS WAS AT $448 OR SOMETHING LIKE THAT Was this answer helpful to you? Yes / No

*walkinthelight*	i work at an agency and if you plan on buying another car or starting up your policy again after a while (6mo or less) then they can suspend it for a period of time and your policy and bonus' will remain the same... Was this answer helpful to you? Yes / No

vette5_99	If there is an interruption in coverage, depending on the period of time, it could affect your rates. Was this answer helpful to you? Yes / No

DK	I have a similar situation. I sold my car and now I am waiting for an accessible van. During this time, my insurance company has suspended my policy for 6 months until my new purchase. This will allow me to keep all of my accrued discounts and keep the low deductible I carry. There is no charge for this service. I hope this helps. Was this answer helpful to you? Yes / No

Pia	They turn their heads the other way and assume you're renting a car. Unless you call them, they'll keep charging you Was this answer helpful to you? Yes / No

Mary S	no it shouldn't raise it , if you no longer have car, you don't need the insurance till you get another on and should cancel out the old policy as each policy should be directed to the current car you have, when you get a car again as long as you have a clean driving record your rates should still be low. Was this answer helpful to you? Yes / No

Delta Charlie	In my experience, I went without owning/insuring a car for about three years and they "assume" everyone needs a car and can't go without one therefore should always have a car insured. I was penilized for not having a car to insure by having to be on "risk" insurance for 6 months because they assume no one can possibly not have a car. Bottom line is they accuse people like you or me of having a car and not insuring it for a long while so they spank you for being a bad boy. Jerks. They should not be able to do that. Was this answer helpful to you? Yes / No

DLB	It really shouldn't as long as you haven't had any infractions on your license. Was this answer helpful to you? Yes / No

dreamer	If you have no car for awhile, why pay out for the insurance?? It's a waste of money. And why should it affect the insurance premiums?? I don't see how it can. Drop the insurance till you get another car. Your record will speak for itself. Was this answer helpful to you? Yes / No

billyandgaby	in MA it would lower your premium. Was this answer helpful to you? Yes / No

808fl	if your insurance is still running you could ask your ins company to suspend it till you get a new car that way you are still with the same company and they should kep this on record Was this answer helpful to you? Yes / No

Pam D	nothing as long as you do not allow your insurance to lapse...if you do, your rates will go through the roof. Was this answer helpful to you? Yes / No

gvih2g2	A UK company will normally let you hold on to your no claims bonus for up to 2 years in which you don't hold insurance. The only hassle is you'll have to send them a letter (or maybe sign a form) declaring you didn't have any insurance during the gap (and therefore didn't make any claims!) Was this answer helpful to you? Yes / No

Ranchgirl	call your agent! Was this answer helpful to you? Yes / No

alismudge	It shouldn't. The best thing would be is to stay with the same company as they have your records on there personal files and can always go back to them Was this answer helpful to you? Yes / No

SunnyDays	Ask your insurance company to give you a letter of no claims bonus allowance, and check that they will honour this if/when you return to insurance. Was this answer helpful to you? Yes / No

iddy143	You can suspend coverage so that you are only insuring your medical damages in the case of an accident and that way, when you purchase a new car, you do not get surcharged. Otherwise, you will see a huge increase in premium. Was this answer helpful to you? Yes / No

Lisa B	If you are not on an insurance policy for 6 months or more, yes, your rates will skyrocket. Was this answer helpful to you? Yes / No

seepferdchenstute	usually your premium gets frozen for at least 6 years. When you buy a car again, you start at the exact same rate again. Was this answer helpful to you? Yes / No

helpme1	Depending on your insurance company your rates could even increase! Because they figure if you owe money on it they are the insurance companies think they will get their money back. Go figure? Those insurance companies have a strange way of thinking. But this is seriously what my insurance agent explained to me! Was this answer helpful to you? Yes / No

Injun	If you do not own a car, you can for a very low cost, insure yourself, so no matter what car you drive is covered and you will not have a lapse in coverage. Ask you agent about this, not sure what state your in, but give this a try. Was this answer helpful to you? Yes / No

ar7	Not owning a car is different to not DRIVING a car for a period of time. If you do not own and therefore insure a car for 12 months+, the ins comp may ask why...it does however help alot if you have been driving periodically on someone else's policy, even if its just very occasional. Your NCD is valid for 2 yrs. If you have not insured a car in your name using your ncd within that time, I'm afraid it will be lost. This is why some couples insure a family car in husbands name one yr, then wifes the next...it allows them to retain their ncb. Feel free to contact me via my profile if you need more advice. Was this answer helpful to you? Yes / No