Protecting Your Motorcycle When the Weather Outside is Frightful
‘Tis the season! Although the winter weather can be magical, it can also be quite frightful. It is the time when we all try to clean out our garages so we don’t come out to a car covered in snow or frosted over. Sometimes, we simply do not have the room for our vehicles. This can be a problem with motorcycles, which are much more vulnerable to the elements. If it’s not safe to leave your motorcycle exposed, it’s definitely not safe to drive it. Many drivers cover up their motorcycles or tuck them away until the snow melts and it’s safe to take them for a spin again. So, what can be done to save you money during this time?
Option #1: Motorcycle Storage Insurance
If you know that there are several months coming up in which you will not be driving your motorcycle, then you can let your insurance company know. Often, they will give you the option of switching to motorcycle storage insurance. This essentially means that they strip the policy down to what is referred to as “comprehensive”. Comprehensive coverage will protect your motorcycle from things like theft, fire, and damage from storms. It provides protection from things it could be vulnerable to while in storage, not while on the road.
Option #2: Adjust Your Coverage
Some insurance companies will not give you the option of changing your insurance to comprehensive or storage coverage. Certain lenders might stipulate that you have full coverage at all times. There is another option. You can request to increase your deductible and decrease your limits of liability. The likelihood of you having to make a claim and actually pay your deductible is much lower, so this is a reasonable risk to take. This will make your insurance much cheaper during the months when you are not driving your motorcycle. Of course, if you go this route, make sure to set yourself a reminder to adjust your policy back to original settings when you’re ready to start riding again. If you forget, you will face an unfortunate deductible should something happen.
Option #3: Cancelling Your Policy
The final option would be to just go ahead and completely cancel your policy during the months you are not riding it. This provides the opportunity to save a good amount of money while you have your motorcycle in storage. However, there are a few risks with this. First of all, you will not have coverage should your bike get damaged or stolen while it is being stored. You would want to be confident that your motorcycle is being kept in a safe location.
In addition, you will need to secure an entirely new policy when you want to take your motorcycle back on the road. It is impossible to know whether your insurance companies will be be able to offer you the same rate as before. If, however, you are up for the new challenge of comparing quotes, you can start researching as the snow melts. Just be aware that any changes in your circumstances, such as dings on your driving record, might impact your costs.
According to CNN, as of March 22, the number of deaths from coronavirus in the United States has risen to 377. As a result, governors in 5 states have issued…Read More
Kobe Bryant’s passing is a terrible tragedy. It’s easy to forget how fragile life is. Unfortunately, we can get caught up in the hustle and bustle. It is not uncommon…Read More
Today’s world is one of anxiety, illness, and fear versus fact. The COVID-19, or Coronavirus, outbreak is quickly making its way around the world, impacting people in ways we never…Read More
Climate Change is a term that hit the scene in 2006 with the release of Al Gore’s “An Inconvenient Truth”. Since then, the topic has been the subject of heated…Read More
Climate Change is one of those buzz phrases that we hear all the time. The conversation has been happening for years, but it has been hard to get people on…Read More
‘Tis the season! That doesn’t just apply to the holidays, but also to health insurance. You have probably heard the phrase “open enrollment” tossed around either on the news or…Read More
We are all guilty of procrastinating every now and then. Especially when it comes to the somewhat morbid topic of life insurance. We all know that our death is an…Read More
For decades, smoking has been advertised as cool, sexy, and trendy. With the invention of the e-cigarette, tobacco companies did not stray from their tried and true marketing strategy. Plus,…Read More