During warm months, millions of people enjoy riding on their motorcycles. However, riding a motorcycle is a dangerous hobby, as one mistake can cause a serious injury or significant damage. While motorcycle insurance in Mesquite, TX, protects you during the warm months when you are an active rider, is it necessary during idle time? This article discusses whether it is advisable to keep motorcycle insurance during winter or not.
What Does It Cover?
Motorcycle insurance can protect you financially you if you are involved in an accident. Collision coverage allows you to repair or replace your motorcycle if it is damaged. Collision coverage protects you if your motorcycle collides with another vehicle or an object such as a tree. Comprehensive coverage is another option. This coverage protects your motorcycle if it’s damaged in any way that does not involve an accident. Comprehensive coverage financially protects you if your motorcycle is stolen, vandalized, or damaged due to severe weather. Liability coverage protects you if you are responsible for injuring someone or damaging someone’s property. Guest liability coverage can protect you if a passenger on your motorcycle is injured in a collision. Liability coverage takes care of the medical bills and property damage that your motorcycle caused.
As you research your coverage options, be aware that collision and comprehensive coverage have unique coverage limits. Policy limits outline the maximum amount that your policy will cover you if you file a claim. In serious situations, you are responsible for any costs that exceed your coverage limit.
Generally, collision and comprehensive insurance measure your motorcycle’s actual cash value along with depreciation. You’ll also have to finalize a comfortable amount for a deductible. The deductible is the amount that you are responsible for paying out of pocket towards your claim before the insurance takes over.
Keeping Your Motorcycle Protected
When the winter season approaches, it’s time to start topping your tank, stabilizing your fuel, and handling all of the maintenance issues before you put your motorcycle in storage. Many people believe that this is a good time to cancel their insurance on their motorcycles. While you may find it tempting to lower your motorcycle insurance coverage during the winter, it’s not the ideal thing to do.
Before minimizing your coverage, think about the possibility that you may take your motorcycle out of storage at some point before the season ends. If the weather heats up for a few days and you decide to take your motorcycle out of storage to go for a ride, you are taking a risk. You will be left unprotected if something goes wrong.
Remember that your motorcycle still faces risks even when it is in storage. Consider the possibility that your motorcycle is vandalized, stolen, or damaged due to an accidental fire. If you cancel your policy and something happens to your motorcycle, you’ll have to pay for all of the repair costs out of pocket. There’s also a chance that you may not save any money for canceling your policy during the winter. Some insurers look at a full riding season when pricing a policy. Talk to your insurance agent to see if any seasonal policies are available.
How to Save Money?
If you are looking for ways to save money on your motorcycle insurance in Mesquite, TX policy, there are a few things to consider. You may qualify for a lay-up policy that suspends everything except your comprehensive coverage. Think about raising your deductible during the winter, which could lower your premium. Before you decide to raise your deductible, make sure that your finances are in order so that you’ll be able to pay if an emergency happens. Taking a motorcycle safety course can also help you save money on your policy.
If you are looking for ways to save money on your motorcycle insurance policy, there are a few things you can research. You could consider raising your deductible or qualifying for a discount based on the number of miles on your motorcycle and the facility where your motorcycle is stored. If you have questions, our insurance professionals at Family Financial Insurance Group will assist you.