Best way to avoid having a gap in insurance?

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Feb 27th, 2018 10:10 pm

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Feb 27th, 2018 8:41 pm

predator [OP]: Member; Mar 7, 2004; 437 posts; 4 upvotes

Feb 27th, 2018 8:41 pm

Best way to avoid having a gap in insurance?

So I will be moving to downtown Toronto for a few months and will not need to use the car often/ ever during this time. Considered parking it somewhere downtown but between the monthly parking cost and insurance I can't justify the cost and considering selling it. My concern is having a gap in insurance for the future when I will need to purchase a vehicle again.

If I ever need to drive somewhere (which should be rare), I was considering getting a zip car membership and using that but it looks like they provide insurance for the trip as part of the rental cost. I would like to avoid the option of parking it somewhere far (I have that option) and just continue to pay the lowest insurance tier on it and worrying about theft/something happening so looking for thoughts/ opinions on the best way to approach this.

Thanks

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Feb 27th, 2018 8:49 pm

zoro69: Deal Fanatic; Jun 19, 2001; 8667 posts; 2365 upvotes

Feb 27th, 2018 8:49 pm

Why do you care if you have a gap in insurance?
"
Ontario Regulation 664 was amended effective November 1, 1996 to prohibit the use of lapses in insurance coverage as a rating variable, except in those limited circumstances set out in the regulation. A copy of the regulation is attached."

....

"The following are examples of criteria insurers cannot consider in assigning a driving record or in determining automobile insurance rates:

the number of years of continuous insurance;

the length of time a person has been insured;

any lapse in insurance coverage that was not due to a reason set out in the regulation;

the length of time a person has owned or leased a vehicle;

whether the insurer can verify the claims history of the person. "

https://www.fsco.gov.on.ca/en/auto/auto ... 06_97.aspx

If Maven locations work for you look into that instead of zipcar

+1

Feb 27th, 2018 9:10 pm

Juyen21: Sr. Member; Jun 20, 2015; 647 posts; 174 upvotes; Place

Feb 27th, 2018 9:10 pm

This maybe a long shot but how about your parents? Friends? Or siblings to put you under their policy as occasional drivers? Or just take the reality of it and deal with it in the future.

Good luck!

Feb 27th, 2018 9:17 pm

predator [OP]: Member; Mar 7, 2004; 437 posts; 4 upvotes

Feb 27th, 2018 9:17 pm

Didn't know about Maven, there is actually a convenient location where I would be staying, thanks for that link.

I was under the assumption that you would lose any "loyalty type" discounts for being insured X amount of years continuously with one insurance company, and that's how they would skirt that regulation. I will be calling my insurance company and asking that specific question tomorrow.

I would rather not cause any headaches for people by asking to be put under their policy, but I am likely just going to cancel the insurance and deal with it when need be in the future as I am sure there will be some reason to increase my rates anyway.

Thanks for the advice

+1

Feb 27th, 2018 10:10 pm

zoro69: Deal Fanatic; Jun 19, 2001; 8667 posts; 2365 upvotes

Feb 27th, 2018 10:10 pm

yes you could lose a loyalty discount for staying with the same company, but if you want the best rate you'd be reshopping for rates on a regular basis and switching as necessary. Its not going to be worth incurring the cost of a car, not being used, just for that.

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