Driving a convertible car is one of the most fun and exhilarating things you can do, but it also comes with risks. You may not know that there are many mistakes that people make when they buy insurance for their Convertible cars. These mistakes can lead to higher premiums and even worse, your policy getting cancelled! In this blog post we will discuss 14 common Insurance Mistakes for Convertible Cars – How to Fix Them.
1. Not realizing that convertible cars are more expensive to insure
This is by far the biggest mistake people make when buying insurance for their convertible. Convertibles cost a lot more to repair, as they have a significant amount of moving parts and because it’s not practical to put a hard top on them in most cases.
When you buy insurance, your insurer will assign a value to your car. If this value is higher, you will have to pay more to insure it. Even if you bought a convertible as a second car, the law requires that all cars be insured regardless of whether or not they are being used or how much you drive them.
2. Not keeping your convertible insurance documents in the glove compartment
When you have an accident, the police will ask for your insurance documents. Make sure that these are in the glove compartment of your convertible at all times. If they are not, it could delay how long it takes to file your claim and possibly affect its outcome. It is also a good idea to make multiple copies of these documents in case one gets lost.
3. Not checking your policy every year to ensure it is correct
The law requires that you have insurance, but they won’t ask for your documents if they are out of date! It’s important to ensure that the information on your car is accurate and up to date so be sure to do an audit once a year before you renew your policy.
4. Assuming that your regular car insurance policy will cover you in the event of an accident
Many regular car insurance policies will not cover convertible cars, especially if they are being used for something other than leisure activities (e.g., racing). Make sure that both types of coverage are included on your plan to be 100% covered.
5. Not adding a Liability Rider to your insurance policy for when you have the roof down
In some cases, an insurer will not cover you in the event of an accident while the roof is down. In most states this won’t be a problem, but if it is mandatory to add a Liability Rider at additional cost.
6. Assuming that your Liability Rider will cover accidents while the roof is down
Not all Liability Riders cover accidents when the roof is down, so you should check with your insurer to find out if yours does or not.
7. Not understanding what counts as a ‘convertible car’ under your insurance policy
Be sure to know what your policy defines as a ‘convertible car’ and how it will affect your insurance coverage. If you bought an after-market roof, make sure that it doesn’t violate any of the rules and regulations pertaining to convertible cars under your specific policy.
8. Believing that if you have comprehensive coverage on your car, you will be covered if it gets damaged
Comprehensive coverage only covers damages to the car when it is off and away from you. It does not cover any damages that occur while your car is in your care or custody. If you leave your roof down and someone damages it, they will most likely blame you for leaving the top down and potentially sue you for damages.
9. Not carrying Identity Theft Insurance to help with a total loss claim in the event of theft
In the event that your car is stolen and not recovered, you may have trouble proving that you owned it or paid for it. This can become a bigger issue if you have financed/leased your car and need to prove ownership.
10. Believing that a standard renters or home owners policy will cover you in the event of accident
Your regular homeowners or renters insurance policy will not protect your car from damages caused by an accident – it won’t even cover windshield replacement costs for a convertible! In order to be covered, make sure that you have specific coverage for your car as a second vehicle on your renters or home owners insurance policy.
11. Being without coverage when you’re involved in an accident and registering the car as ‘salvage’
When a car is deemed to be a total loss by your insurer, it is considered ‘salvage’. When this happens, you may have trouble selling your car at a later date. If you’re not sure if your car counts as salvage, call your local DMV and ask them to check the status of your vehicle for you.
12. Not adding a $1 Million Liability Rider for when you have the top down and stop at a rest stop
If another car hits your convertible while it’s stopped in a rest stop and you do not have a million dollars in Liability coverage, they can sue you for damages. This will mean that your assets could be at stake if the other party is successful in their lawsuit against you. A million dollars of liability insurance covers up to $1 Million in damages per accident.
13. Having too little Personal Injury Protection (PIP) to cover medical bills in the event of an accident
Personal Injury Protection is mandatory coverage that cannot be waived, even if you are on your own policy. A great way to get around adding it to your standard car insurance plan is by opting for a no fault plan instead. These plans allow you to carry Personal Injury Protection without having it tied to your standard comprehensive and collision plans.
14. Allowing your car’s manufacturer to be the one who names replacement parts
When you let your car’s manufacturer name replacement parts, there is no way of knowing if these parts are high quality or not. This means that they may end up costing you more in repairs than they should over time.
I bought a car that’s not considered ‘convertible’ under my insurance plan. Can I still drive it without worrying about these mistakes?
If your car isn’t considered a convertible car by your insurer, you should be fine as long as you don’t leave the top down and violate any of the other rules and regulations outlined in this article. You can check to see if your car is considered a convertible here .
What else should I check to be sure that my car is insured properly?
You should be sure to check the physical damage coverage as well as your comprehensive and collision deductible. In addition, it’s a good idea to ask your insurer for a list of replacement parts. This way you’ll know exactly what parts will be considered ‘high quality’ replacements in the event of an accident.
Can I drive my convertible in the winter months?
Driving with the top down is not recommended, since there’s no way to get it back up once it gets stuck down. Rather than force anything, you should wait until warmer weather comes around again before driving your car with the top down.
Is there anything else I should know about driving a convertible?
Driving with the top up is actually safer for you, because it means that there are fewer distractions while you’re driving. You can read more about this here .
Is there an easy way for me to think about all of these mistakes in one place?
Yes, you can download the insurance checklist here . This will allow you to keep track of each mistake as it applies to you and help you make sure that you are never without insurance on your convertible car!
All In All
Comment below and share your thoughts on this article. We would love to hear what you think about our list of 14 insurance mistakes for convertible cars, as well as any suggestions or advice that might be helpful in avoiding these common errors.