Can I cancel my motorcycle insurance in the winter?
If your motorcycle won't be on the road, you're not required to carry motorcycle insurance. However, that doesn't mean you should cancel your motorcycle policy. Some insurers will allow you to drop certain coverages and change your coverage limits while your bike is in storage or off the road. Keep in mind, if you're financing or leasing your motorcycle, your lender or lease company will often require you to keep your bike insured.
What is seasonal motorcycle insurance?
Sometimes referred to as "winter layup," seasonal motorcycle insurance provides coverage in the months you ride your motorcycle and suspends coverage for the months you're not riding. While many insurers don't offer layup policies, you're free to adjust your motorcycle insurance coverage and limits or cancel your motorcycle policy at any time.
Some insurers, including Progressive, allow you to make changes anytime to your motorcycle policy based on your coverage needs. For the months your motorcycle won't be on the road, you have the option to lower your limits of liability or drop any other riding-related coverages. This helps lower your costs during the months your bike is in storage.
Why you shouldn't cancel motorcycle insurance during the months you don't ride
When your bike is stored away during off-season months, there are still risks involved in having no insurance coverage:
- Theft: If someone steals your motorcycle, your investment could be lost. Unless your bike is somehow recovered and returned in one piece, you have no recourse without motorcycle insurance. Learn about how motorcycle insurance covers theft.
- Fire: If the space your bike is stored in catches fire, you need an active motorcycle policy with comprehensive coverage to pay to repair or replace your bike.
- Snow and ice: Winter weather can cause a significant amount of harm to your garage, shed or carport, which could damage your motorcycle.
- Violation of the terms of your lease or finance agreement: If your bike is financed or leased, your lender or leasing company may mandate comprehensive and collision coverage even if you're not riding your motorcycle.
- Possible price increase: There's no guarantee your policy's price will be the same when you need to insure your motorcycle again.
- No coverage for unseasonably warm days: You may be tempted to hop on your motorcycle for a rare good weather ride during the winter months, if only to keep the engine components lubricated. There are even options like heated seats, grips, and other accessories that make winter rides possible.