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Get DirectionsFor those who collect old cars to work on, or those who’ve decided to park an RV on their property — and who have no intention of driving any of those for a while — the idea of saving money by canceling vehicle insurance coverage may be tempting. If no one is driving them, the thinking goes, there’s no need for coverage on the road, just for property. Many people assume their home insurance will cover them if something happens. However, the Ledford Insurance Agency in Midland, TX, wants you to know that this is unlikely to be the case.
A Vehicle Is a Vehicle
It’s not unusual at all to park your RV on your property, nor is it unusual to have an old car that you’re fixing up. It’s also not unusual for these vehicles not to move for months. But their lack of movement does not make them non-vehicles, and the fact is that they are likely going to be operational, if they aren’t already.
If you decide not to insure them as vehicles, then you have no coverage if they sustain damage from, say, a storm or vandalism. Your homeowner’s insurance is likely not going to consider the RV to be stationary property, even if someone is living in it full-time and not moving it anywhere.
If you think the vehicle is a special case and believe you can prove that it’s a stationary property and nothing more, then you should discuss this with your insurance agent. Never assume your homeowner’s insurance will cover damage done to the vehicle when it’s parked on your property. If you have more questions, call the Ledford Insurance Agency in Midland, TX.