Convertibles can be expensive and complicated to insure, especially during the harsh winter months. In 2017, the nationwide average insurance premium for a convertible was $2,081 per year.
You can reduce these costs while still ensuring full protection by adjusting your winter insurance coverage for your convertible based on your needs and use.
What do you do with your convertible in the winter, and how does this impact your insurance?
1. Reduce coverage if storing.
If you don’t plan on using your convertible at all during the winter months, you can consider talking to your insurance agent about reducing your coverage. This can save hundreds of dollars, and you won’t have to pay for unneeded insurance types while the car is out of use.
Reducing coverage is also a better idea than cancelling, so you don’t have lapses in coverage. If you cancel your policy for the winter, it will be much harder—and more expensive—to get insurance again in the spring.
Consider reducing your coverage to only the policies required by the state. Most states require the following insurance:
You’ll also want to ensure that you have a comprehensive policy for your convertible while in storage. Comprehensive coverage will cover your car in the case of storm damage, fire, theft, vandalism, or animal damage even when in storage. This is especially important to hold during the wintertime, when storms and weather damage are more likely. Convertibles, especially soft tops, are particularly susceptible to theft and vandalism.
Most car insurers pair collision and comprehensive coverage together. So talk to your insurance agent about an exception for separating these two during the winter months.
Suspending coverage is another option, and it essentially “pauses” your policy for the time being. Your vehicle won’t be covered for any claims, though. You’ll save without lapses in coverage, but your car won’t be protected from any winter storage hazards.
Coverage reduction will not work if:
- You have a car loan, as your lender might require you to maintain your full insurance even during storage.
- You plan to drive your convertible even once during the season, as you won’t be covered and your insurance company could pull your insurance altogether if they found out.
2. Consider increasing coverage.
If you’ll be driving your soft top or hard top convertible during the winter, you should consider increasing your comprehensive and collision insurance. You want to make sure you are fully protected against the elements.
Storm-related damage is much more common during the harsh winter months, which your comprehensive coverage can help protect against. Collisions are also more common due to icy conditions and anxious drivers, which is covered under collision coverage.
3. Get roadside assistance.
If you’re driving your car in the winter, you’ll also want to look into roadside assistance. If your car breaks down while on the road, you don’t want to get stuck out in the cold elements. Roadside assistance can help with tows and repairs so you’re never left stranded. Some insurance companies offer roadside assistance insurance, and others partner with companies like AAA.
4. Take care of your car.
Whether storing or driving, your convertible needs a little extra TLC to prepare for the winter. Although today’s convertibles are better made and insulated than their predecessors, they can still be vulnerable to winter incidents.
Bring your convertible in for maintenance in the fall. Your mechanic can make sure the roof is appropriately fixed so it won’t leak or break. They’ll also prep your car for other storage needs, like prepping your engine or oil tank.
Store your convertible in a warm, dry place. If it will be subject to any elements, use a secure, form-fitting cover. You’ll also want to lock it away from potential thieves or vandals.
You don’t need to worry about your convertible during the winter months if you take the steps to maintain and insure it.