Dave's Evo X Build/The Life of Dave blog

[turbotalon1g]

^I don't know shit about car loans, but that is what I have always heard from people.

I'd say keep an eye for some cheap shits to run in the winter. But don't u guys roll 18s?

[Matt D.]

What does your bank think of not having full coverage on the car? IDK about other banks, but for my credit union, it is required that you have full coverage on the car for the length of the loan regardless if it is in storage or not.
Likewise. You best hope they don't randomly ask for proof of insurance, not that it's happened to me but I've heard of it done.

[mlomker]

But don't u guys roll 18s?

Yeah, there are a couple Chinese snow tires around $120/ea but new tires aren't cheap.

[A//// Guy]

Huh Ive never heard of that. Thats what storage insurance is for, it covers the car while its in storage and not being used. It protects against natural damage, theft, etc.

[Murlo26]

Yes I need 18's...but I don't have rims I can use either so it doesn't matter...its not coming out this winter no matter what.

I did the same thing for my car when it was down being built...its Mitsu's financial branch, thats who I have the loan through. It is still covered if anything happens to it, just can't drive it. If they care, oh well.

Huh Ive never heard of that. Thats what storage insurance is for, it covers the car while its in storage and not being used. It protects against natural damage, theft, etc.

This was my understanding as well...and like i said for the 5 months my car was being built up, nothing was said from Mitsu.

[Matt D.]

Yeah, I've taken insurance off a car I've had a loan on while I didn't drive it even though the credit union said I had to, but I was always worried about being caught with my pants down.

[Murlo26]

I would assume they would've noticed already after 5 months the time before if they truly cared.

[goodhart]

^^Well, if they are anything like insurance companies, they will check at random. American family miraculously found 3 tickets on My policy (2 from my Wife) and my insurance shot up an extra $50/month for the policy.

[Murlo26]

Well I spoke with my insurance agent and she seemed to think it would be fine, I guess I could shoot her another email and double check.

[Murlo26]

Just got a response from my insurance person:

Your buddies are right with some financial institutions. Each loan carrier is different. Most, if they do notice storage coverage on the vehicle will send a letter asking for full coverage, at that time you and I would call the carrier, explain that the vehicle is stored and I can confirm with them what the coverage offers. I have never had a loan company force coverage onto a policy retroactive.



Sometimes I feel like the Cliff Clavan of insurance…. J



Happy Holidays David!

This is pretty much what I remember her telling me when we talking about this the first time I took it off for the motor build.