As fall gives way to winter, many motorcycle riders prepare to mothball their rides for the colder months. There is some consolation in putting your motorcycle away for winter, fortunately. During the winter months, those who live in northern states, in particular, may find that reducing their coverage off season can save a significant amount of money.
They key word there is reducing, 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 case of fire, theft, or even vandalism. These risks can occur even if your motorcycle is off the road and stored away from the witnter weather.
Here are a few tips on how to save on motorcycle insurance in the winter months.
How to save on motorcycle insurance in the winter
Ask your agent about 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 ensures that your bike is still protected from theft, fire, etc. Note that many insurance companies are moving away from this option, but it is still available with some carriers.
Reduce 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 coverage options. Many insurance carriers will not allow you to remove all collision and liability, but you can reduce coverage to your state’s minimums. You can also raise deductibles to reduce your premium. But remember to raise your coverage and lower your deductible when you begin riding again!
Shop around if your current 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 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.