Motorcycle Insurance Articles
Four Things To Do Before Cancelling Your Motorcycle Insurance Policy
2010-05-23
Every rider knows that good cheap motorcycle insurance isn't as easy to come by as policies for cars. Whether you are parking your bike for a spell, moving to another state or simply wanting to change companies, there are four things to do before cancelling your motorcycle insurance policy.
Decide if a Cancelled Insurance Policy on Your Record is Worth It.
This is especially important if you are not getting coverage from somewhere else. Though companies vary in their requirements for better rates, many take into consideration how long you have been without coverage when they give you a quote. This means that even with a clean driving record, it may take more money to gain protection at a later date, the longer you go without it.
Check out Local Laws on Motorcycle Insurance
Laws vary from state to state and sometimes from city to city as well. For example, helmet laws in many cities have clauses that do not allow riders to collect against claims if they were riding a bike without wearing one, or at least make it harder to do so. Some regions have stricter standards with bike inspections that include things such as exhaust and mechanical safety precautions.
Research More Than Just the Rate Quotes of Companies
Do not take the first policy you come across or choose to sign up with one based on money alone. Research what coverage their base rate quote includes, as well as any additional fees that are charged later on down the road. Ask questions about how often they review your policy and reduce your rates or deductibles. Research customer reviews online, as well as any complaints to local insurance commissioners or the Better Business Bureau.
Read the Fine Print
Doing your homework before signing any contract is important, especially when it comes to putting your life, or taking your life out of, someone's hands. Find out exactly what happens if you eliminate coverage. Ask questions with your current company, including service fees involved and any strikes to your credit report or driving record they personally send in. Get everything in writing before deciding to rescind on the contract early as you may just choose to wait until your current coverage is about to expire before moving on to avoid the headaches.
Decide if a Cancelled Insurance Policy on Your Record is Worth It.
This is especially important if you are not getting coverage from somewhere else. Though companies vary in their requirements for better rates, many take into consideration how long you have been without coverage when they give you quote. This means that even with a clean driving record it may take more money to gain protection at a later date, the longer you go without it.