In this challenging economy, many households are looking for ways to save money. Insurance is an investment that you don’t think you need, until you need it. If you realize that you won’t be driving your car for an extended period, you might question whether you should temporarily reduce your insurance coverage. While insurance is required by law, depending on your circumstances, you may be able to reduce your coverage if you don’t plan on driving for a long time. However, this means you can suspend your liability insurance only. You will still hold comprehensive insurance to protect your vehicle while in storage from fire, theft, vandalism, damage from falling items, bad weather, etc. Reducing your coverage to comprehensive only is also known as seasonal or storage insurance.  The benefits are: You can limit your costs while you are not driving your car. Your car is still protected from damages nor related to an auto accident. You can avoid a gap in coverage, which can increase your rates. You can easily reinstate insurance coverage. You can maintain any insurance discounts you already have. The disadvantages are: You could be personally responsible if you drive without liability insurance. You may not…

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