Reducing your motorcycle plan to comprehensive only used to be the only way to handle bike insurance over the winter months. As a result, insurance companies found that this led to more shopping around by people for a cheaper deal. More and more companies are moving away from offering comprehensive-only plans for bikes, but you may still be able to find it. Some lenders mandate that you carry full coverage at all times. Having your bike insured with a company that offers a built-in layup rate might be the best deal for you. Plus, every time the weather changes, your bike will be ready to ride without having to worry about being covered. If you must carry a full plan on your motorcycle but are not riding it for a long time, you can request to raise your deductibles and lower your limits of liability on a short-term basis. The chance of a loss while you are not riding the bike is low, which helps make the risk low for you to ever have to pay a deductible. When you raise your deductibles and lower your limits of liability, your cost to insure your bike will go down. That can help you to get the cheapest motorcycle insurance possible. You should make a note to switch your coverage back once it is time to ride again, or you could leave yourself open to paying a huge deductible if you have a loss. There’s still a slight chance of needing a liability plan even while your bike is parked. For instance, if your bike falls on a person, liability coverage would pay for an injury that could occur. If you do decide to cancel your policy, be sure to have your bike in a secure place at all times. Bike insurance is a vital part of being a bike owner. Taking coverage on and off your bike could create a risk of not having the proper coverage in place when it is needed. Always check to make sure your changes are correct by looking at your declarations page. Be sure to add coverage back on before you go for a ride. When you put your bike away for the winter, do not forget about your insurance plan. A bike storage plan is a great way to cut costs and still protect your prized possession. If your carrier does not offer a storage plan, that might not be a bad thing. You have other options, such as getting a cheaper plan or canceling it until you start riding your bike again.
