Canceling insurance
- Thread starter K4D4
- Start date
Not sure what the OP is thinking but I was wondering the same. In my case I've ridden very little due to "Stuff" but I'm paying like I actually have a M/C life.
One part is the cancellation cost. The other is that instead of a renewal price when you want to ride again you have a "New" policy price.
Just for BS lets say a person's rate is $1800 a year. In reality it works out to $300 a month due to the summer weighting. Theoretically you could ride for a month and then cancel after doing that one long tour (Save $1500) but it won't work out that way.
Then when you want to do the same thing the next year you may get hit with a surcharge as a "New" rider???
The weight for the policy is 16-20% per month for Jun, July, or August. See the stickies by Vifferfun. Then there is the cancellation charge and possible reinstatement costs.
The other cost is harder to calculate, sitting home on a perfect day because your bike isn't street legal.
BTW I just licensed a new car yesterday. I gave them one bit of information and my total history of all my vehicles popped up on their screen including a $91.00 claim six years ago. If they see a pattern will they blacklist you?
One part is the cancellation cost. The other is that instead of a renewal price when you want to ride again you have a "New" policy price.
Just for BS lets say a person's rate is $1800 a year. In reality it works out to $300 a month due to the summer weighting. Theoretically you could ride for a month and then cancel after doing that one long tour (Save $1500) but it won't work out that way.
Then when you want to do the same thing the next year you may get hit with a surcharge as a "New" rider???
The weight for the policy is 16-20% per month for Jun, July, or August. See the stickies by Vifferfun. Then there is the cancellation charge and possible reinstatement costs.
The other cost is harder to calculate, sitting home on a perfect day because your bike isn't street legal.
BTW I just licensed a new car yesterday. I gave them one bit of information and my total history of all my vehicles popped up on their screen including a $91.00 claim six years ago. If they see a pattern will they blacklist you?
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OP I have a question for you are you actually asking about CANCELLING your policy or just going to fire/theft/comprehensive for the winter?
They are VERY different things.
If you cancel, you WILL get hit with cancellation fees, This is to discourage people from doing exactly what you want to do. Decades agao you could buy a policy in May and cancel in Oct with no penalties and no paying over the winter. Not permitted anymore, (actually is permitted you just have to pay the high fees to do so. Also after you do it twice they will see the pattern good luck finding an insurer then.
Next so you cancel outright. Are you 100% your bike won't get stolen when you have no insurance? Or that a fire, (if your in a house your neighbors garage goes up and ignites your garage, or in a condo the neighbors car catches fire and before the sprinklers go off your bike gets singed. unless it is a piece of crap that is worth say $500 your SOL. In which case cancel away...lol
They are VERY different things.
If you cancel, you WILL get hit with cancellation fees, This is to discourage people from doing exactly what you want to do. Decades agao you could buy a policy in May and cancel in Oct with no penalties and no paying over the winter. Not permitted anymore, (actually is permitted you just have to pay the high fees to do so. Also after you do it twice they will see the pattern good luck finding an insurer then.
Next so you cancel outright. Are you 100% your bike won't get stolen when you have no insurance? Or that a fire, (if your in a house your neighbors garage goes up and ignites your garage, or in a condo the neighbors car catches fire and before the sprinklers go off your bike gets singed. unless it is a piece of crap that is worth say $500 your SOL. In which case cancel away...lol
