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Keeping at least minimal coverage could keep your car protected, even if you’re not driving it. However, getting or keeping your insurance during your suspension period could lead to higher rates.
Even if you can’t drive due to a suspension, you’ll probably still need insurance on your car. Reasons to keep your policy:
The cost of a policy with a suspended licence depends on the reason your licence is suspended, whether it be a DUI, reckless driving charge, or a pile of unpaid tickets for example. That’s because your insurance rates increase based on the risk you pose to your insurance company.
In general, you can expect your rates to increase between 10% and 50% for moderate offenses and possibly more for DUI suspensions. The average annual insurance rate varies by province, ranging from $900 to $1,900 so you might pay an average of 30% higher depending on where you live.
On the other hand, you could see lower rates than that if you’re just keeping comprehensive coverage while putting your car in storage. Your insurer may offer a special rate for storage insurance if you’re not driving it.
You can still go after savings, even with this mark on your record. Avenues you might consider taking:
Keeping at least minimal coverage on your car can be important, even though you’re not driving it. Types of coverage to consider:
James received a licence suspension for multiple moving violations and discovered his insurer would no longer cover him. After getting several high-risk coverage quotes, James started a new policy that was 20% more expensive than his previous policy without the suspension. Since his previous rate was $1,100, James will pay $660 extra over the next 3 years until he can transition to a regular policy.
* This is a fictional, but realistic, example.
While you’re working to tidy up your record, be careful about a few patchy situations you might encounter:
Yes. Most policies stipulate that you must tell your insurer about anything that raises your risk level unless you can reasonably expect the provider to know about it already.
Avoid unnecessary headaches by alerting your insurance provider to any changes in your driving record, especially suspensions of your licence, registration or plates.
You may not be driving around for a time, but you might still need some coverage to keep your car and others driving it protected. To get the best high-risk coverage until you clean up your record and return to normal rates, make sure you shop around with multiple providers and understand the kinds of coverage available to you.
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