Here are some reasons why insurance companies give lower rates for cars parked in garages:
1. Reduced Risk of Damage: Garages offer protection from harsh weather, falling objects, and other elements that can cause damage to a vehicle. Keeping a car in a garage helps prevent damage from hail, snow, ice, heavy rain, strong winds, falling branches, and other environmental factors.
2. Lower Risk of Theft: Cars parked in garages are generally at a lower risk of being stolen. Garages provide a physical barrier that deters potential thieves and makes it more difficult for them to access the vehicle.
3. Vandalism Prevention: Similar to theft protection, garages can help deter vandalism by providing a physical barrier against individuals who might cause malicious damage to a car.
4. Secure Storage: Garages offer a secure storage space where valuable items, such as tools and equipment, can be stored safely in the vehicle.
5. Claims History: Insurance companies often review a policyholder's claims history when determining rates. A history of past theft or damage claims related to a car left outdoors can lead to higher premiums. Parking in a garage can reduce the frequency and severity of these types of claims.
By reducing these risks, insurance companies consider cars stored in garages to be less susceptible to damage, theft, and vandalism. As a result, they may offer lower premiums to policyholders who keep their cars in garages. However, it's essential to check with your insurance provider, as the impact of garage parking on insurance premiums may vary depending on the company's policies and underwriting guidelines.
