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Do You Need to Insure a Car, Motorcycle, or RV That's Sitting in Storage?

July 11, 2019
3 mins
A husband and wife taking the groceries in from the car

Everyone thinks about car insurance in terms of road liability. There are hefty fines for driving without insurance, and you should always have coverage in case of a collision. But what about those seasonal vehicles or classic cars you don't drive?

As it turns out, there's good reason to keep those vehicles insured year-round as well. You will be protected in the event that damage is caused while the vehicle is parked or stored. You can change your coverage so you're not paying for protection you won't need.

Protection for a Range of Hazards

Even off the road, there are a number of ways your vehicle could be damaged. Fire, theft or other damage are also perils covered by auto insurance. If any of these happen to you, the bill comes out of your pocket. That can lead to substantial costs, especially if you are storing a high-ticket item like an RV or classic car.

Future Premium Discounts

If you do cancel your insurance, you have to start it up again eventually. But you may discover at that time you're no longer eligible for long-term policyholder discounts from your insurer. Even if you opt for a new company, it may not look favourably upon a period of time without insurance. If you are put into the "high risk" category, your insurance costs overall may be higher, even if you did save on premiums when the vehicle was uninsured and not in use.

Your Options to Reduce Coverage

Thankfully, there is another option. Since your car is in storage and unlikely to be involved in a collision, you can remove some of the mandatory policy provisions. That way, you pay less but have a safety net in case something happens. In Ontario, you can take off the road, liability and accident benefits insurance. By keeping just your comprehensive coverage, you do have protection in the event of fire or theft.

Contractual Obligations

In some cases, you may not be able to cancel your insurance coverage. If you still owe money on the vehicle, maintaining insurance may be a condition of your payment plan. Read the fine print on this point. It may be that you can't cancel the policy altogether, but you can modify your coverage and reduce premiums when there's no risk of road hazards.

Check Out Your Coverage Options

Even if insurance is essential, you don't have to rely on one company to find the best coverage. RATESDOTCA has the latest quotes on car insurance for your seasonal or classic vehicles. You can also find the latest on mortgage and banking, so you know where to invest those premium savings in case you do decide to reduce your coverage in the winter months.


The RATESDOTCA editorial team are experienced writers focused on sharing stories and bringing you the latest news in insurance and personal finance. Our goal is to provide Canadians with the information and resources they need to make better insurance and financial decisions.

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