View Full Version : Storage Insurance

02-11-2005, 09:06 AM
Here is my recent insurance story....
I parked my Cobra in Late November for the Michigan winter.
I had my insurance agent cancel all but fire and theft. I spoke
with FifthThird bank (they have the lien on my car) and they said
that would be fine as long as I didn't drive the car (duh!)

Then in January I get a notice that FifthThird bank will no longer allow
cars to be winterized unless they are stored in another state or
are certified as classics. Needless to say I do alot of *****ing but can't
win the argument. I have thirty days to show full coverage insurance
or the bank will take out a $3200 per year policy at my cost.

28 days later my insurance agent is on the phone with FifthThird to
clear up the insurance issue. FifthThird tells him that due to all the
complaints and negative responses they have changed their policy back
to allowing cars to be winterized off full coverage. Hah! another victory
for the little guy.

But this does not go without consequences... I am paying off both car
loans I have with FifthThird and will never do business with then again.

I like the way big business feels that they can change or amend a
contract when ever they feel like it. I should have told them that I
have changed my policies and no longer pay interest on loans. Ha Ha Ha