With people in the suburbs typically having an attached or detached garage on their property, the garage address of where their car is kept is never anything that they think about. If you live in a big city in an apartment, keeping your car nearby may not even be an option for you. Where you keep your car can play into your auto insurance, and here is what you need to know about it.
Why The Garage Address Is Important
Your garage address is where your car is parted when you’re not using it. Insurance providers use this address to determine if the car will be safe in the location it will be parked at overnight when you are at home. If your insurance provider views the place where your
car is parked as being high risk, it can cause your premiums to increase. This can come in the form of theft, vandalism, or even accidental damaged caused by other drivers hitting the car.
Why You Can’t Use Another Address
If you are looking to save some money by telling your insurance provider that your car is actually kept at another address, know that this can cause some huge problems. The biggest issue is potential insurance fraud, which could result in dropped covered or increased premiums if your insurance provider finds out the truth.
In some situations, it could result in being taken to court by your insurance provider due to insurance fraud, especially if you try to file a claim and lied about where your car was parked. For instance, if your car was stolen because it was parked on the street, when you reported to your insurance provider that it was parked in a secure garage.
What You Can Do About The Garage Address
Look into how much money you can save on insurance by parking your car in a more secure place. A secured parking garage may cost a little more money per month when compared to an unsecured lot, but you must first find out if using the unsecured lot is actually costing you more money in the form of higher premiums.
If you do not have a choice about your garage address, look for other ways to lower your premiums to make up for it. This could include using vehicle tracking to reward good driving behavior.
For more info about your car’s garage address, be sure to ask your auto insurance agent.