Many people are not aware that a vehicle has to be insured even if it is not being used or is immobile. Every state demands that a vehicle have current registration and the minimum amount of insurance in case of theft. There are verification programs in place to detect vehicles with lapsed insurance and non-compliance can result in heavy fines.
If the vehicle is not in working order or is underused, collision and comprehensive insurance is a waste of money. Liability insurance is the minimum requirement in most states but that option is also expensive if a vehicle is not being used. Another option is Pay-As-You-Go insurance or as I like to call it, which only charges for miles driven.
Pay-As-You-Go works through an installed device or a service such as OnStar. Devise based Pay-As-You-Go programs require an installed tracking device that has to be taken off and analyzed periodically. Telematic insurance programs such as OnStar results are reported automatically and do not have to be removed and taken in for analyzing. Both programs can save consumers a great deal of money and both are good for the environment.