Full Coverage during the winter months

[FatNakedGuy]

Does this sound correct? I believe it does but wanted to check with everyone before committing. Thank you!

-----Original Message-----

From: Rick

Sent: Tuesday, October 06, 2009 11:06 AM

To: Dave

Subject: motorcycle insurance

Dave,

Around this time of year I park the bike for winter and don't take it back out until late March or April. I don't forsee any issues with the bike getting damaged during this timeframe so with that said, does it make sense to maintain full coverage insurance throughout this time period?

Let me know your thoughts on how it might work to cease coverage in Oct and resume coverage in March. The bike is paid off so no bank loans that require insurance.

Thanks!

-----Original Message-----

From: Dave

Sent: Wednesday, October 07, 2009 10:43 AM

To: Rick

Subject: RE: motorcycle insurance

Rick, my suggestion would be to delete all coverage except your Comprehensive $250 deductible coverage - it costs only $19 / 6 months and protects the bike from theft or vandalism (your home would not cover it in a fire etc). If State Farm sees that we are cancelling and rewriting the bike each year they will force us to pay it annually - the reason is that there is more premium taken in the summer months and very little in the winter months - but when you pay monthly they spread it out evenly.

More info than you probably wanted - but my suggestion would be to drop all coverage except the Comp and then reinstate the other coverage next

year.

Just reply to drop all but Comp or hit me with additional questions.

Thanks Dave

State Farm - Providing Insurance and Financial Services

 

[v65]

Well can't answer your question, but when I looked into dropping coverage for the winter it didn't make enough of a difference to bother. The bulk of the cost was for the summer months according to my then agent. Makes me wonder now if the Cali guys pay more?

 

[Big-D]

Insurance companies are great at grabbing your money and not letting go of it. And I agree that most of the time when you live in an area that only riding part of the year, they (insurance companies) will quote you a price that is significant higher during the riding season, knowing or expecting you to try to save a buck by asking about dropping coverage when the bike is parked.

A good solution is to move to Arizona where we ride year round, only complaining about the heat and then complain about the winter when it gets below 70 degrees. We love to ride, but we complain anyway just to have something to complain about!

 

[Geezer]

How easy is it to sign a used bike back up for full coverage each spring? I know my car insurance company always needs to see the vehicle, inspect for body damage, and take a bunch of pictures before they'll sign me up for collision.

 

[BkrK12]

My experience is that it is much more expensive to write a new coverage, rather than renew an existing one. That may change if you can have the ability with your carrier to declare the policy, or a portion of it, dormant. YMMV.

 

[SilverHound]

Sounds like your insurance guy is being pretty straight up with you. It is true that in most cases your vehicles are not covered by your homeowners insurance even when parked in your garage. When I had my Blackbird for sale I dropped all insurance except for comprehensive while it sat in my garage for the same exact reason. Fire, theft etc. can happen.

Funny story...well only to me maybe because my ex wife is a bitch...she owned a Dodge Viper which I'm pretty sure I paid for except my checks said "child support" not "Viper payment". Anyhow she would drop insurance on it in the Winter...all insurance. One beautiful kharma filled winter day a tree fell on her garage...her tree...in her yard. Pretty much destroyed the Viper. Insurance said...tough luck...not covered, we'll fix your garage but the tree removal and the Viper is on your dime.

 

[BkrK12]

There is a god, and she has a sense of humor.

 

[Gramps]

I have USAA insurance, which requires you or someone in your immediate family to be a Vet, and I do exactly that which your insurance guy said to do. It saves me quite a bit of money. I say do it.

 

[MCRIDER007]

I have USAA insurance, which requires you or someone in your immediate family to be a Vet, and I do exactly that which your insurance guy said to do. It saves me quite a bit of money. I say do it.

I had USAA insurance for 24 years and finally dropped it because their motorcycle rates were not competitive and they charged exactly the same thing for the winter months when I could not ride as they charged for the summer months. I got tired of taking coverage off and putting it back on every year...and there would also be that one nice day in December or January when I could ride...if I had coverage.

State Farm charges different rates for different months, they just average everything in the monthly premiums. The rates vary (where I live) from 16% of the annual premium for June, July, and August and only 2% of the annual premium for November, December, January, and February. I save much more by taking coverage off in the summer if I am not going to be riding than removing coverage in the winter.

 

[Big-D]

I thought to be covered by USAA you had to be retired officer?

 

[MCRIDER007]

I thought to be covered by USAA you had to be retired officer?

When I joined you had to be an officer on active duty but the rules were changed over the years to include about anyone who has a family member that served in the armed forces.

 

[chrisflock]

I've been doing exactly what your agent is suggested with all my 'valuable' bikes (on my CB750, all I ever had was liability, since my deductible would have been more than the bike cost...) I didn't know the exact terms when I did it the first year, but I called them up and said that my motorcycle was going to spend the winter in a locked garage, and I only wanted it covered for for fire, theft/vandalism, tree-falling, volcanic events, and nuclear attack.

They don't cover nuclear attacks at all (which I personally think is totally lame) but they did say that comprehensive would cover the rest. It cuts the bill way down, and according my agent it was basically a wash compared to the cost of writing up a new policy in the spring.

 

[LtloldGuy]

Lost two cycles in a house fire last year. They were covered only because I continued to carry comp

 

[Kevin Daly]

State Farm only does 12 month policies. that said they will allow what you propose, I cancel all but comp as soon as the first snow and dont change coverage back until around March. it does save you some money and is worth the phone call.

 

[g8rdude]

I've been rethinking my coverage limits, I think I've been going about this the wrong way for a while.

Is it true that your work health insurance will cover bodily injury if you are hurt so you don't need body insurance, but just need whatever you need (what's it called?) to cover the cost of damage to your bike? And you don't really need uninsured motorist since 85% of accidents are caused by cars? And I feel confident I won't be slamming into the side of a car anytime soon.

Is my thinking correct here?

Thanks

Doug

 

[SilverHound]

I've been rethinking my coverage limits, I think I've been going about this the wrong way for a while.
Is it true that your work health insurance will cover bodily injury if you are hurt so you don't need body insurance, but just need whatever you need (what's it called?) to cover the cost of damage to your bike? And you don't really need uninsured motorist since 85% of accidents are caused by cars? And I feel confident I won't be slamming into the side of a car anytime soon.

Is my thinking correct here?

Thanks

Doug

I am not an insurance professional so you might want to double check with your agent but...

Your health insurance through work may cover you but you should make sure there are no exclusions for injuries while operating a motorcycle. Sometimes there are and they can be written in non-obvious language such as "dangerous or high-risk activities".

Collision and comprehensive cover both damage to your bike depending on how that damage occurs and comprehensive also covers it for fire, theft etc....usually

Uninsured/underinsured coverage is usually in case someone else causes an accident and doesn't have any or enough insurance to cover your losses, damage, injuries etc. I would never drop this coverage but that's just me.

Liability only pays for damages/injuries that you cause to others...it pays nothing to you.

In case I am wrong on any of these someone else can chime in.

 

[ahchiu]

I've been rethinking my coverage limits, I think I've been going about this the wrong way for a while.
Is it true that your work health insurance will cover bodily injury if you are hurt so you don't need body insurance, but just need whatever you need (what's it called?) to cover the cost of damage to your bike? And you don't really need uninsured motorist since 85% of accidents are caused by cars? And I feel confident I won't be slamming into the side of a car anytime soon.

Is my thinking correct here?

Thanks

Doug

+1 Silver Hound, I was rearended August of 08 and the gal that hit me only has $50,000 coverage, I'm still fighting them on paying my damages 50k is not enough to cover my medical. I have underinsured motorist coverage of 250k and I'm glad I do. you can never predict the outcome of any accident. Washington State your not required to have any insurance. I rather have and not need than need and not have, as far as having uninsured coverage the person my not have any coverage and your polocy may not cover all cost, it depends on your limit. and if you feel confident you won't be slamming into a car soon be careful, you never know when an idiot pulls out into you path and then say "Sorry, I did not see you" from what I have been reading on this fourm and others a lot of riders slamed into a car from them pulling out in front of them.