Overnight Parking and Its Impact on Car Insurance

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With a dozen factors that could affect your car insurance, you might not pay much attention to where you park your car. Well, if you wish to safeguard your car while you are peacefully asleep, you may park your car in a safe spot. It is true that when the likelihood of theft of your car is less, your insurer may reduce your premiums. Though not much, the increased safety of the overnight parking spot could impress your insurer and bring down your premiums to an extent.

How Do Overnight Parking Impact Car Insurance?

Most often auto thefts and hit & run collisions may occur when your car is parked at night in an insecure place. This is the reason why it matters a lot to insurance companies as to where you park your car overnight. When you park on the street then there are more chances of some kind of damage to your car or a robbery. However, if you park your car in your garage overnight, such instances are significantly reduced.

Insurance companies consider all risk factors that could cause damage to your car. They consider all perils especially, theft, as they have an interest in knowing that to calculate your premiums. When you park your car safely overnight in a private garage that means you have taken care to protect your car. A public parking area is not as good or secure as a garage where there is restricted access. If break-ins are common in your neighborhood then that could mean that your insurance rates may surely increase if you don’t park overnight in a garage.

What Can You Do To Lower Your Risk?

safe parking space

You may lower your risk of insurance by choosing a safe and secure overnight parking spot for your car, such as a garage. Or, if you do not have a private garage then you may consider paying rent for one. When you own an expensive car that also has stylish accessories then you may invest in a rental garage. The safety of your car would justify your garage rent. If you already park in a garage, you may increase its safety by installing cameras, motion sensors etc. in your garage. This may deter thieves and deny them easy access and theft of your vehicle. It is also a good idea to not leave anything in plain sight inside your car to keep away the thieves as even an empty bag may invite robbers.

If you have no choice but to park your car in the open or the driveway then you may ensure that area is well lit. You may also note if there are other security features in that area that could protect your car such as a neighborhood watch or patrol. When you don’t park your car in a garage overnight then it surely makes sense to install anti-theft devices. These may get you a discount from your insurer too and reduce your premiums. In case you were parking in your driveway and have now started to park in a private garage, then mention that to your auto insurance company. They may consider that and do a better calculation when it is time to renew your policy.

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