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Everything you need to know about a storage credit for your vehicle

 

With the summer days behind you, it’s time to store your shiny convertible, RV, motorcycle or watercraft for the winter, but this will have an impact on your insurance premium based on the type of seasonal vehicle you’re storing.

Auto and motorhome

Did you know that you’re entitled to a storage credit if you don’t drive your car or motorhome?

The suspended coverage and length of the storage period is used to calculate this credit.

 

Here’s an example

Peter and Laura stored their motorhome on their woodlot from November to April. Their coverage against fire, theft and vandalism is always in effect, whether or not they’re using their RV. The credit storage they’re therefore entitled to represents a percentage of the “Civil liability” and “Section B - Coverage 2 Collision or upset” coverages based on the duration the vehicle is in storage.

Conditions for getting your storage credit

You should not be living in your motorhome. Even if it’s been parked in the same spot for some time, the insurer will consider that the vehicle is not in storage. So you wouldn’t be able to take advantage of the credit storage.

How to ask for a credit storage

If you’re one of our customers, you can apply for it online when you will take your vehicle out of storage.

You must log in to your Client Centre and go to the “Home, auto and leisure vehicles” section. You must then click on “Unstore”.

What if you took off to Mexico with your motorhome?

You could be entitled to a credit insurance for the duration of your trip, provided that you took out insurance for your motorhome with an Insurer at your destination.

The insurance you have in this province is not valid in Mexico.

You must provide proof that your RV is insured in Mexico to get your credit insurance. Your insurer could then reimburse you for the unused percentage of your insurance in this province.

What to do when you take your vehicle out of storage

Not sure how to go about taking your vehicle out of storage? You need to contact your insurer and the Société de l'assurance automobile du Québec (SAAQ).

Motorcycle, snowmobile, ATV, boat and sea-doo

You don’t need to notify your insurer when you store the following vehicles :

  • Motorcycles
  • Snowmobiles
  • ATV
  • Watercraft
  • Sea-doo

The seasonal use of the vehicle is used to calculate the price of the insurance premium which is then spread out over a full year. So there is no need to request a storage credit for these seasonal vehicles with your insurer.

Should you cancel your insurance?

Shopping for insurance discounts does not pay off for the storage of your seasonal vehicles.

The insurance premium is calculated based on its seasonal use.

Ideally, you should keep your insurance in effect since you’re also covered in event of theft, fire and vandalism. This could save you a lot a money if a loss occurs while your vehicle is in storage.

Note : This article is intended for information purposes only and should not be construed as professional advice.