1. Money
Emily Delbridge

My Car Broke Down, Do I still Need Car Insurance?

By January 20, 2014

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Car with its hood up for repairs.

Lots of people are having a tough time making ends meet. A major car repair can cripple some families, forcing harsh decisions on what cuts to make. A common question I hear is: Do I need to carry car insurance if my car is broke down?

Circumstances can vary greatly, and so can the answer to the question. If multiple cars are insured and one breaks down, the answer is no, you do not necessarily need to insure the car needing repairs. Sometimes, if you have a loan on the vehicle your lender may require full coverage no matter what the circumstances are. Comprehensive or storage insurance may be a possibility if your car needs repairs, so long as you have an alternate vehicle being driven on the car insurance policy.

Now, if your only vehicle is down and out, you will need to maintain car insurance in one form or another. Decide how to stay insured based on how long it will be to repair or replace your car.

Stay Insured By:

  • Maintaining insurance on the vehicle needing repaired
  • Get added as a driver to a relative or friend's car insurance
  • Purchase a Named Non-Owner car insurance policy

Cancelling your car insurance can be very costly. A good rule of thumb is to never let your car insurance lapse. It may seem useless to pay car insurance on a vehicle you cannot drive; however, it is the cheaper route to go since you will be considered high risk the next time you need insurance.

Further Reading Image © FreeDigitalPhotos.net
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December 5, 2012 at 8:36 am
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December 12, 2012 at 4:24 am
(3) rob says:

Why should you have to pay car insurance if you do not have a car at the time and you are on the bus and not driving.

December 13, 2012 at 1:54 pm
(4) carinsurance says:

Depending on what state you live in, you could be penalized in the future when you go to purchase insurance for going without. State laws vary, but the majority consider no prior insurance, high risk.

Ever borrow a friend’s car? They might not carry enough liability to fully protect you in case of an accident. A non owner’s policy would ensure you are covered.

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