Car Insurance Question regarding Suspension of Coverage

POP Bad Boy

Bronze
Jun 27, 2004
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I am used to insurance terms from the US, so my question in US terms would be:

Does anyone know of any company that offers the option to "suspend" all coverage EXCEPT comprehensive (which is "Other than collision coverage ie: fire/theft/vandalsim) coverage while a car is in storage and not being used for long periods of time in the DR, such as when someone travels out of the country for months at a time?

Thanks
 

the gorgon

Platinum
Sep 16, 2010
33,997
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I am used to insurance terms from the US, so my question in US terms would be:

Does anyone know of any company that offers the option to "suspend" all coverage EXCEPT comprehensive (which is "Other than collision coverage ie: fire/theft/vandalsim) coverage while a car is in storage and not being used for long periods of time in the DR, such as when someone travels out of the country for months at a time?

Thanks

i do not know how insurance works in the DR, but i know that insurance carriers in the USA will not give you comp without collision. the reason is that if you have no collision coverage, and you hit a tree, you can collect on the comp coverage by walking away and declaring that the car was stolen.
 

POP Bad Boy

Bronze
Jun 27, 2004
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GORGON,

My question is pretty basic I would think. Maybe I need to be clearer........

I own 4 insurance agencies in the US and they **DO** suspend coverage if you want to put a car in storage or go on vacation for extended periods of time. We do it all the time...and we represent about 20 major US Carriers...... IT IS NOT UNUSUAL..... ALL coverages are suspended EXCEPT the comprehensive. The purpose of this is that your car is NOT COVERED TO BE DRIVEN OR COVERED FOR A COLLISION..............IT WOULD ****ONLY**** be covered for "fire / theft and vandalism".............such as the garage burning or someone stealing it.............

..........ALSO, Every company we represent in the US **WILL** give you comprehensive coverage ***WITHOUT**** Collision.......it is VERY COMMON....

SINCE Full coverage is SO expensive in the DR, I am asking since a friend of ours bought a new car and needs to have it protected, and he is usually here in the DR only 1 to 2 months per year..............IT IS LOCKED in a garage the remainder of the time..............SEEMS FOOLISH to have to pay the full premium all year long, if it is hardly used.....

...........Personally, we only have liability coverage on all our vehicles and self insure the value .........

Thanks....
 

the gorgon

Platinum
Sep 16, 2010
33,997
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GORGON,

My question is pretty basic I would think. Maybe I need to be clearer........

I own 4 insurance agencies in the US and they **DO** suspend coverage if you want to put a car in storage or go on vacation for extended periods of time. We do it all the time...and we represent about 20 major US Carriers...... IT IS NOT UNUSUAL..... ALL coverages are suspended EXCEPT the comprehensive. The purpose of this is that your car is NOT COVERED TO BE DRIVEN OR COVERED FOR A COLLISION..............IT WOULD ****ONLY**** be covered for "fire / theft and vandalism".............such as the garage burning or someone stealing it.............

..........ALSO, Every company we represent in the US **WILL** give you comprehensive coverage ***WITHOUT**** Collision.......it is VERY COMMON....

SINCE Full coverage is SO expensive in the DR, I am asking since a friend of ours bought a new car and needs to have it protected, and he is usually here in the DR only 1 to 2 months per year..............IT IS LOCKED in a garage the remainder of the time..............SEEMS FOOLISH to have to pay the full premium all year long, if it is hardly used.....

...........Personally, we only have liability coverage on all our vehicles and self insure the value .........

Thanks....

no need to shout. i have no doubt that you are familiar with insurance rules in the USA, but i worked in the business for 30 years, for 3 major carriers, and i remember when you could not get comp without collision, for the reason i outlined. maybe things have changed since i retired, but that is the way it was when i worked in the business. as far as the DR goes, insurance here is nothing like the USA, so i cannot help you there. i could find out and pm you if you like.
 

the gorgon

Platinum
Sep 16, 2010
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actually, now that i remember more clearly, you cannot get collision without comp, not the other way around. if the rules are the same here, you should be able to keep comp and suspend collision. as i said, i will check it and pm you, if you like, since i know someone who owns an agency here.
 

popvisitor.

New member
Nov 14, 2013
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actually, now that i remember more clearly, you cannot get collision without comp, not the other way around. if the rules are the same here, you should be able to keep comp and suspend collision. as i said, i will check it and pm you, if you like, since i know someone who owns an agency here.

You had me confused enough that I had to look at old policies

when I lived in New Hampshire, I would "suspend" all but comprehensive from Nov to April. I would have to send evidence to state Farm taht teh registration for the vehicle was also suspended

Now, I carry complete coverage on my primary car and only liability and collision on my 8 year old pick up, no comprehensive required?
 

the gorgon

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Sep 16, 2010
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You had me confused enough that I had to look at old policies

when I lived in New Hampshire, I would "suspend" all but comprehensive from Nov to April. I would have to send evidence to state Farm taht teh registration for the vehicle was also suspended

Now, I carry complete coverage on my primary car and only liability and collision on my 8 year old pick up, no comprehensive required?

i was confused for a while, too. been away from it for 15 years. besides, i cannot speak for the rules of other states beside NY, so they could vary from state to state.
 

CaptnGlenn

Silver
Mar 29, 2010
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i do not know how insurance works in the DR, but i know that insurance carriers in the USA will not give you comp without collision. the reason is that if you have no collision coverage, and you hit a tree, you can collect on the comp coverage by walking away and declaring that the car was stolen.

I've HAD insurance with comprehensive but no collision. (but you do still have to carry liability). If you were to crash it, then walk away, and claim it stolen; you'd loose the car and get whatever fraction of its value that the insurance says they'll pay... MINUS the deductible of course. if it was mysteriously "found" later, after settlement, the insurance co would sell it at wholesale. if found before settlement, you'd get the car back but not get the repairs paid for.
 

the gorgon

Platinum
Sep 16, 2010
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I've HAD insurance with comprehensive but no collision. (but you do still have to carry liability). If you were to crash it, then walk away, and claim it stolen; you'd loose the car and get whatever fraction of its value that the insurance says they'll pay... MINUS the deductible of course. if it was mysteriously "found" later, after settlement, the insurance co would sell it at wholesale. if found before settlement, you'd get the car back but not get the repairs paid for.

if the car had comp coverage, and was stolen, they would not pay you a fraction; they would have to settle at actual cash value. if they found it before settling, they would have to pay for any damages on the car.
 

LTSteve

Gold
Jul 9, 2010
5,450
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The cost of car insurance in the DR is cheap compared to the US. Just pay it and let it ride. I don't you can suspend it here. You probably have to cancel and than start over again. Don't you want insurance while you are gone? Is the car being stored inside of a garage? If you cancel and something happens to the car you are __cked.

LTSTeve
 

the gorgon

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Sep 16, 2010
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The cost of car insurance in the DR is cheap compared to the US. Just pay it and let it ride. I don't you can suspend it here. You probably have to cancel and than start over again. Don't you want insurance while you are gone? Is the car being stored inside of a garage? If you cancel and something happens to the car you are __cked.

LTSTeve

actually, Steve, he wants to suspend the collision sector of the coverage, since the car will be parked, and have no exposure. however, i just raised the idea that some carriers will not allow for comprehensive only, without collision. i do not know if that applies in the DR.
 

POP Bad Boy

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Jun 27, 2004
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The endorsement that is used all the time by almost all carriers in the US is the "PP 02 01 Suspension of Insurance" Endorsement. I was just asking if anyone knows of any company in the DR that makes this endorsement available. Reading the endorsement shows if what I was asking for is available.

Suspension of Insurance (PP 02 01)

It is possible that a named insured may wish to have his auto insurance coverage suspended for a period of time to save on insurance premiums. An example might involve putting a car in storage while traveling. The PP0201 Suspension of Insurance endorsement is used to accomplish that purpose. The suspension can not be retroactive, and will only go into effect from the date when the insurer receives the request for the suspension of the auto insurance coverage under the policy.

All coverage indicated in the endoresement is suspended on the effective date of the endorsement. If the suspension lasts for at least 30 consecutive days, the policy holder will receive a premium refund. Insurers can retain a minimum of 90 days? premium calculated on a pro rata basis for the policy period. The vehicle becomes an uninsured vehicle, and there is no coverage if you forget and operate it. You should request a reinstatement of coverage PP 02 02 before putting the vehicle back into service.

Some states allow insurers to request a physical inspection of the vehicle before coverage is reinstated. This inspection is typically performed when you include collision coverage on the vehicle. The Suspension of Insurance endorsement is generally used to pause coverage for liability, auto medical payments, UM, and collision or any combination of these coverages. ?Other than collision? coverage is not eliminated by the endorsement.
The suspension of insurance endorsement may be used to suspend the coverages on all autos, all autos owned by the named insured, or only on autos listed on the endorsement schedule.



........the endorsement DOES NOT suspend the "other than collision coverage" which is "comprehensive.......which consists of fire / theft and vandalism"...........
 

the gorgon

Platinum
Sep 16, 2010
33,997
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The endorsement that is used all the time by almost all carriers in the US is the "PP 02 01 Suspension of Insurance" Endorsement. I was just asking if anyone knows of any company in the DR that makes this endorsement available. Reading the endorsement shows if what I was asking for is available.

Suspension of Insurance (PP 02 01)

It is possible that a named insured may wish to have his auto insurance coverage suspended for a period of time to save on insurance premiums. An example might involve putting a car in storage while traveling. The PP0201 Suspension of Insurance endorsement is used to accomplish that purpose. The suspension can not be retroactive, and will only go into effect from the date when the insurer receives the request for the suspension of the auto insurance coverage under the policy.

All coverage indicated in the endoresement is suspended on the effective date of the endorsement. If the suspension lasts for at least 30 consecutive days, the policy holder will receive a premium refund. Insurers can retain a minimum of 90 days’ premium calculated on a pro rata basis for the policy period. The vehicle becomes an uninsured vehicle, and there is no coverage if you forget and operate it. You should request a reinstatement of coverage PP 02 02 before putting the vehicle back into service.

Some states allow insurers to request a physical inspection of the vehicle before coverage is reinstated. This inspection is typically performed when you include collision coverage on the vehicle. The Suspension of Insurance endorsement is generally used to pause coverage for liability, auto medical payments, UM, and collision or any combination of these coverages. “Other than collision” coverage is not eliminated by the endorsement.
The suspension of insurance endorsement may be used to suspend the coverages on all autos, all autos owned by the named insured, or only on autos listed on the endorsement schedule.



........the endorsement DOES NOT suspend the "other than collision coverage" which is "comprehensive.......which consists of fire / theft and vandalism"...........

i offered to look into it and report back to you, but you did not respond.
 

facelessdoll

New member
Oct 20, 2011
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I spoke to my brother who is an insurance broker. He said that it is not an option in the DR, however, if the car will not be moving AT ALL what your broker can do is discuss with the insurance company to include the car in your house's policy. It would, of course, be an exception... if your broker has a good relationship with the company it is doable.
 

the gorgon

Platinum
Sep 16, 2010
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I spoke to my brother who is an insurance broker. He said that it is not an option in the DR, however, if the car will not be moving AT ALL what your broker can do is discuss with the insurance company to include the car in your house's policy. It would, of course, be an exception... if your broker has a good relationship with the company it is doable.

there you go. make it a part of homeowner contents...neat trick.
 

POP Bad Boy

Bronze
Jun 27, 2004
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I spoke to my brother who is an insurance broker. He said that it is not an option in the DR, however, if the car will not be moving AT ALL what your broker can do is discuss with the insurance company to include the car in your house's policy. It would, of course, be an exception... if your broker has a good relationship with the company it is doable.

Thanks....I'll have him check it out, but I am doubtful they will since the car and house are both insured with the same company and they didn't suggest it....I will suggest to him that he should ask.... We will see. Thanks
 

melphis

Living my Dream
Apr 18, 2013
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What you are asking for does not exist in the DR. I have asked my agent here several times and he has checked with all the major companies here and it is not offered. If you would like I can side track for another 2 pages about insurance in Canada but after reading all the US ones its sort of the same.
 

POP Bad Boy

Bronze
Jun 27, 2004
984
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Well, now that it has been settled that they don't suspend coverage in the DR, does anyone know what / how you can cancel a policy? This same person, (with the 60K peso year full coverage policy)........has had it for 2 months. He is now going to leave the DR for the rest of the year......... He is paying the policy on installments and has paid 20K so far........

.....IF he cancels the policy, (the car will be locked up in a concrete garage to which only he has the keys and he knows that there would be no coverage for it) does he owe the balance for the full year, or do they "pro-rate" the policy for the actual amount of time he had it in force?.......like the US and probably Canada too??