How To Save On Motorcycle Insurance During the Offseason
As fall gives way to winter, many motorcycle riders prepare to mothball their rides for the colder months. While it’s sad to be putting away your favorite toy, there is some consolation in putting your motorcycle away for winter. During the winter months, you may find that just as your riding is seasonal, seasonal motorcycle insurance can help save you money.
Seasonal motorcycle insurance doesn’t mean you should cancel your policy during the months you’re not out on the road. They key is in reducing your coverage, not canceling. While you may not think you need motorcycle insurance if you won't be using your bike, insurance experts recommend that you keep some insurance to cover your motorcycle in winter in case of fire, theft, or even vandalism. These risks can occur even if your motorcycle is off the road and stored away from the winter weather.
Here are a few tips on how to save on motorcycle insurance in the winter months.
How to Save With Seasonal Motorcycle Insurance in the Winter
Ask your agent about seasonal rating
If you live somewhere with seasons, you’re likely not taking your motorcycle out on the road all year long. In that case, it makes sense to ask your agent about getting a seasonal rating. Not all insurance companies provide this option, but seasonal rating takes into consideration the fact that riders may only be using their bikes for a portion of the year. Coverage is in place year-round, but for a lower premium that reflects reduced usage during the winter.
Ask if your insurance company has storage insurance
A “lay-up” policy suspends all motorcycle insurance coverage except comprehensive during the winter months. Comprehensive helps ensure that your bike would still be protected from theft, fire, etc – risks that don’t go away in colder weather. Note that many insurance companies are moving away from this option, but it is still available with some carriers, so it’s worth asking your insurance agent if you this option is available to you.
Reduce your motorcycle insurance coverage during the winter months
If you know you won’t be riding your bike during for an extended time period, ask your agent about your coverage options. Many insurance carriers will not allow you to remove all collision and liability, but you could reduce coverage to your state’s minimums to lower your premium during that time. Another way to save would be to look at your policy deductibles, and consider raising those during the winter months (but be careful not to raise them too high, since accidents can still happen when your bike is in storage!). If you play around with your coverage levels or deductibles in the off-season, it is incredibly important to remember to raise your coverage and lower your deductible when you begin riding again! You don’t want to find yourself underinsured or on the hook for expensive repairs once you start riding again.
Shop around if your current motorcycle insurance policy doesn't offer a layup
Not all insurers are created equal. Shopping around for quotes from multiple insurers is the best way to see what's available to you. At InsuraMatch, it's our mission to help our customers find the motorcycle insurance coverage that is right for them. As an independent insurance agency, we can help you shop carriers to find if there's one that offers a layup option during the winter months. We can also help you reivew your coverage and any available discounts to see if there are ways for you to save. Give us a call today or request a quote.
Compare motorcycle insurance quotes and get expert advice on seasonal motorcycle insurance by calling one of our insurance advisors at (844) 300-3294.