After thinking a lot about it, ive decided to put the WRX away for a while. I spend about half of what i make to drive it so its in my best interest to take a break and save some money for a while. The car will be paid off in 12 months so do i have to keep it insured even if it will be parked the whole time? also, does one need insurance to participate at track events like a track day or drag racing?

thanks
-don

 

Be careful about cutting insurance., If your car is through a lender, they sometimes check to make sure you have insurance and if you don't they can jack you with penalties. I'd call my bank first.

As for track and stuff - your insurance probably wouldn't cover your car there anyway, but how you gonna get to the track? If you're driving on streets you MUST have insurance.

 

cutting corners never pays.. just keep the insurance its really in your best interests.. cause if something happens trust me you be spending WAY more then half your checks on you car insurance, fines, lawyer fees, penalties, and settlements

edgar,

 

thanks for the replies.
the thing is, i dont plan to drive at all. im proabbly going to end up putting the car in my parents name. i realized that i can live my life w/o driving on a daily basis. im going to miss driving my WRX, but i kinda have to do it. i do NOT intend to drive uninsured. just wanted to make that clear.

 

I believe you can "garage" the car and tell the insurance the car will not be driven, they will advise you to what coverages to keep on the car to protect yourself (i.e. comprehensive in case there is a fire, or a latter falls on the garage or it's stolen) but at a reduced rate since it's not being driven. Any asset you have that is worth something to you should be insured for the unexpected. Obviously you would not need liability insurance if you aren't driving the car but your bank may require you to have at least comp and collision.

anyway, should be much cheaper and you are covering your butt.

Most insurnace policies have a racing exclusion "any bodily injury or property damage arising out of the participation in any prearranged, organized, or spontaneous:
a) racing contest
b)speed contest or
c)use of an auto at a track or course designed or used for racing or high performance driving, or practice in or preparation for any conest or use of this type"

not to qoute my policy or anthing.