Motorcycle Insurance Articles
What To Do With Your Motorcycle Insurance During The Winter Months
2010-11-16
Getting motorcycle insurance quotes is easier than ever before and recent statistics show that nearly three-quarters of all vehicle insurance policy transactions are begun online. Insurance companies realize this and have put quite a bit of effort into creating websites that are attractive, user-friendly and compelling in their attempt to get visitors to request a free quote. If you're a motorcycle rider, winter insurance coverage is something about which you may have questions.
Riders living in warm climates such as those in Florida, Southern California, Arizona, Hawaii or other various southern locales, don't face the dilemma of what to do about winter insurance for their motorcycles because in those areas riding is possible 12 months a year. If, however, you're a bike rider in Michigan, Minnesota or Maine, chances are pretty good that you're two-wheeler will be safely locked away for at least three or four months of the year and maybe even longer. The question is, if you're not riding it and it's safely stored away, why spend the money to carry the coverage? It's a good question and hopefully you can find some good answers here.
First of all, if any type of lending institution financed the purchase of your motorcycle you have no options here. They are going to want to have their interests in your motorcycle covered regardless of the time of the year and whether it's being ridden or not. They will insist on protection from your bike being stolen, damaged, burned in a fire, washed away in a flood or any of the countless other things that can occur to alter the value of the equipment whose purchase they have underwritten. In addition, they will almost certainly require that the type of insurance you get on the motorcycle be comprehensive, which is the most expensive type sold.
If you own the bike, however, the choice of insurance is up to you. Most states, with few exceptions, will require a minimum of liability coverage in order to have the motorcycle even plated. Dropping this coverage during winter and then picking it back up in the spring may sound like a good way of saving money but insurance companies don't look favorably on this behavior. Some companies also offer renewal discounts or diminishing deductibles as part of their customer loyalty programs, both of which will go out the window every time you cancel your coverage.
Motorcycle insurance quotes in northern states are often lower automatically because they have a built in wintertime adjustment. The company knows you won't be riding in the middle of January in Minnesota. Canceling may actually end up costing you more.