hi friends,
I am paying too much for car insurance, this is my last month for contract.
I lost my job , no hope. what if i stop my car insurance and continue later on when i get job?/
My last date of insurance policy is 14 may 2012.
Thanks
Mac
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BE HAPPY KEEP HAPPY
Location: God's own country
Posted on: 08-05-12 15:02:24
Good decision.
Just ask your insurance company to stop the insurance of your car and they will do so. Just ask them the formalities to join back in when you wish to do so.
All the very best for your search for a job !
Peace
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I am a Gents and not a Ladies.
Quote:
Originally posted by mrpandya
hi friends,
I am paying too much for car insurance, this is my last month for contract.
I lost my job , no hope. what if i stop my car insurance and continue later on when i get job?/
My last date of insurance policy is 14 may 2012.
Thanks
Mac
I wouldnt advise you to completely stop the insurance because you will loose continuity in insurance and when you go in the market you'll again start as a beginner with very high rates ( your experience will come back ZERO ) .
I am hoping you dont want to drive your car at all .
in this case you can call your insurance company and tell them you do not intend to drive your car for 2 or more months .
This can reduce your payments upto 90% ( you will pay approximately 10% or so of your current insurance rate ) and you will maintain your driving experience as well .
i just realised that your policy is coming to an end within few days, you should shop around and get the cheapest rate ( TD insurance is generally better priced for new drivers ) and then put your insurance on hold as if you are travelling out of canada for 2 or more months .
also you would have got the insurance rates for the next year from your current provider and then you can compare with others and move whichever suits you .
Thank you very much for your excellent opinions, I will contact company and let you know updates.
I already talk to my current insurance company , they deny to continue as a 'fire and safety
Insurance.
Mac
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BE HAPPY KEEP HAPPY
Talk to other Insurance Companies and ask them what their policy is with regards to 'non use ' insurance or where in your car will remain parked .... Some companies may not wish to start with a 'non use' insurance in which case , you may wish to regularly insure your car for one month / 15 days ( what ever they approve ) & then update them that you d not be using the car for > 45 days and would intimate them when the car comes back on the road .
First shop around and get the best rates for both insured as well as 'non use' insured and then move ahead ... If you disclose them that the car would be not in use from day 1 , they may not give you the best rates .
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Fido.
Hi, you might want to check insurance consumer reviews at https://tools.insureye.com/pct/rating
There are surely plenty options for the companies WITH -only fire and theft- OR -parking coverage-. May be other folks had similar cases with other insurerance companies. Good luck! 
Shop for quotes and see if they are affordable. Try these..
insurancehotline.com
kanetix.ca
insurancehunter.ca
