You can insure the remaining undamaged area(s) of the vehicle by taking it to your agent and working an agreement as to what is covered for any future damages that may incur. The vehicles value will be arrived at for a price in case another accident renders it a total. You may have to do some shopping with Ins. Co to find one that will give you the coverage you may want or need.
To answer your question - no, you do not have to insure a vehicle that is not in use. So long as the vehicle is not being driven, it is not necessary to insure it. However, should the vehicle be stolen during the period in which the vehicle is not insured, then I do believe that is simply considered as a loss, and is not worthy or reimbursement. The other downside is also that if the vehicle remains in your ownership and uninsured for a certain amount of time, you may also be charged an additional fee to re-insure your vehicle again in the future. Bottom line - It is not necessary to insure a vehicle that is not in use, but be wary of any pontential future repurcussions. Hope this helps!
Since you have a loan you should be required by the lender to have full coverage insurance which will pay you the value of the vehicle. With out insurance you are still responsible for repaying the loan no matter what happens to your vehicle. It is not the lenders fault your car was stolen and wrecked...
AnswerAfter it's Repaired, it's called a " Salvaged Rebuilt Vehicle". before it's repaired it's called a total wrecked vehicle. Most insurers will not provide insurance for a total wrecked vehicle unless proven that the vehicle was prematurely declared a total loss.This would not apply to cars being rebuilt from the ground up, such as classics
You are required to have an "insurable interest" in order to legally effect coverage. If you have no insurable interest then it would be unlawful to insure someone else or their property. When it comes to property insurance a simple layman's test would be to ask yourself this question. (If the car is wrecked? what are the consequences for me?) If your answer is none. Then you have no insurable interest in that vehicle.
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