When my in-laws moved from their house to a condo, we had to move my wife’s Harley that had been stored in their garage. We now owned our own condo that has secure underground parking, and one of our two spots was empty, so luckily we had somewhere to move it. Karin’s vestibulopathy has kept her from riding it for the last seven years, but the last time she did her insurance costs were about what a car costs us now. While we had not had storage insurance on it for the past few years, we knew we had better get some now that it was a bit more publicly accessible. Given that we pay just over $1000 for our car’s insurance, we expected storage insurance to be about $150.
We visited the insurance office at our credit union, and sat down with an insurance agent.
Agent: Storage insurance will cost you $604 a year.
Us: Ahhhh…….
Me - thinking logically: Well, we’re going to try and sell it, and so having it ready for test drives would be a good thing. It can’t be much more for road insurance. What would that cost us?
Agent: Well, as you have your full safe driving discount, it will only be $2300.
Us: Ahhhh…….
Me: OK, we’ll just be getting storage insurance in that case.
Agent: Of course. Now will you be wanting comprehensive on that? It’s $300 more.
Me: To cover what? Comprehensive is extra insurance for crashes. Storage insurance covers all damage that might occur while it’s sitting in my parking spot. I’m pretty sure that if we have comprehensive and crash into something, the insurance will be null and void since it isn’t insured for driving.
Agent: Oh, comprehensive on a storage policy would be to cover you if it were to roll out of your parking spot, across the lane, and into the vehicle parked opposite you.
Me: It’s a bike. If it starts to roll, it will fall over.
