The roar of a motorcycle on a sunny day is a thrill like no other. But what about the cold season when your bike is in storage or parked in the garage?
While it may be tempting to cancel your motorcycle insurance during the months you don't ride, it is not a recommended practice. There are several reasons why it is important to maintain your motorcycle insurance coverage year-round, even during the months when your bike is not in use.
In this article, we will explore why keeping your motorcycle insurance policy active throughout the year is in your best interest and the potential risks you may face if you cancel your coverage during the off-season.
Whether it's adjusting coverage options or altering the policy's lay-up period (the time when the motorcycle is not in use), seasonal motorcycle insurance provides flexibility and cost savings for riders who only ride their motorcycles at certain times of the year or for recreational purposes.
While most motorcycle insurance companies do allow for changes to your annual policy, many insurers do not offer a “winter layup” policy - and for good reason.
While it might seem like a cost-saving measure to cancel your insurance during the off-season, the potential risks and long-term costs can outweigh the short-term savings.
For example, there may be additional fees or effects to your policy that aren’t being considered when a policy is canceled:
It's always best to consider the bigger picture and protect your investment.
You expose yourself to several risks when you decide to drop your insurance. No coverage means zero coverage protection, and the consequences might cost you more in the long run.
Just because your bike is safely stored for the winter season doesn’t mean it’s immune to threats.
There's always a risk of unforeseen damage or even theft. Without insurance, repair or replacement costs will come out of your pocket.
Some of the risks, even in seemingly safe storage environments, include:
Weather can be unpredictable. Yes, winter is traditionally considered the “off-season” for riders, yet Mother Nature doesn't always play by the rules.
A sunny day might pop up in the middle of a cold month, giving you a perfect chance for a ride. If you’ve canceled your insurance and decide to take the bike out, you risk being uninsured on the road – a gamble not worth taking.
Another important consideration: you may not realize any savings by canceling your policy over the winter.
Insurance companies vary, but some may consider the typical riding season in your state when they price a policy (even if it's spread over 12 months). That means you may not receive a refund for canceling your winter coverage.
Instead of canceling your insurance, consider comparing quotes from different providers. You might find a more affordable rate or a plan that offers flexible coverage for riders like you.
Remember, it’s not always about cutting off protection but finding the right protection for the right price.
Here are our top tips on comparing motorcycle insurance effectively:
When the colder months roll in and your motorcycle sees less road time, it might seem tempting to cut corners on insurance.
Instead, consider these alternatives to maintain protection while potentially saving some money.
Your deductible is the amount you'll pay out of pocket before your insurance kicks in for a claim.
Increasing this amount during the months, you're less likely to ride can lower your premium. Just ensure you're comfortable with and can afford the higher deductible should you need to make a claim.
Many insurance companies offer discounts to riders who complete certified motorcycle safety courses. Not only does this potentially reduce your premium, but it also hones your skills, making you a safer rider when the summer months return.
Insurance companies offer various discounts; winter could be the best time to explore and utilize them. From bundling your motorcycle insurance with other policies to making the most of loyalty discounts, there are many options to help you save.
Make sure to reach out to your motorcycle insurance provider and inquire about any discounts you might be eligible for, including:
Bundle and save - Combining multiple insurance policies (like home, car, and motorcycle insurance) under one insurance carrier often leads to significant discounts.
Loyalty programs - Have you been with the same insurer for years? There might be loyalty discounts available to you.
Safety gear and anti-theft discounts - Some insurers offer discounts for motorcycles fitted with anti-theft devices or if riders invest in high-quality safety gear.
Pay in full - If feasible, paying your premium upfront rather than monthly installments can secure a discount.
By employing one or several of these strategies, you can maintain the necessary coverage for your motorcycle without feeling like you're throwing money away during the winter months. It's all about thoughtful planning and making the choices that suit your riding lifestyle best.
Yes, it's generally recommended to keep your motorcycle insured even if you're not actively riding it.
There are several reasons why canceling your policy during the winter is not advised, including: