Hold On Insurance During Winter?

2

2016rider

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Hello Everyone,

I'm new to this forum but have browsed alot of the insurance questions.

So here's the situation:
- I know that it's better to not cancel the insurance through the winter months to better build your riding cred
- But a friend told me that you can actually "hold" (not cancel) the insurance and still get the riding exp during the winter months.

Is this a thing? Would love to hear your comments.

Thanks in advance. Ride safe.
 
Highly unlikely to save you even $100. You risk having no theft insurance also.


Call your agent and ask.
 
Winter is "free".
 
Baggsy said:
Winter is "free".
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x2, and when it comes to a lot of people new or unfamiliar with motorcycle insurance, they don't understand that.

Long story short, if you start a policy in the spring and then cancelled it in the fall your insurance company is going to send you a big bill in the mail for the payments you *would* have made during the winter since they are designed to offset what would have been higher payments during the actual riding season. So, instead of (for a simple example) $200/month payments in the summer, you make $100/month payments instead and pay the remainder during the off season instead, making it more palatable.

Suspending or cancelling insurance on a regular vehicle will yield a saving since they are not weighted on a 6 month riding season like motorcycles are. This does most certainly NOT work on a motorcycle, so yeah, don't listen to your friend - when you insure a bike, plan on keeping that insurance for the whole term otherwise there's potential financial complications involved.

To complicate things a little further, this can work backwards however - if you started a policy in (for example) December and paid all winter but then cancelled in the policy in the spring before the riding season gets underway you would actually get a good majority of your premiums refunded - however that's seldom the case as most new riders start MC policies in the spring of course.
 
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PrivatePilot said:
x2, and when it comes to a lot of people new or unfamiliar with motorcycle insurance, they don't understand that.

Long story short, if you start a policy in the spring and then cancelled it in the fall your insurance company is going to send you a big bill in the mail for the payments you *would* have made during the winter since they are designed to offset what would have been higher payments during the actual riding season. So, instead of (for a simple example) $200/month payments in the summer, you make $100/month payments instead and pay the remainder during the off season instead, making it more palatable.

Suspending or cancelling insurance on a regular vehicle will yield a saving since they are not weighted on a 6 month riding season like motorcycles are. This does most certainly NOT work on a motorcycle, so yeah, don't listen to your friend - when you insure a bike, plan on keeping that insurance for the whole term otherwise there's potential financial complications involved.

To complicate things a little further, this can work backwards however - if you started a policy in (for example) December and paid all winter but then cancelled in the policy in the spring before the riding season gets underway you would actually get a good majority of your premiums refunded - however that's seldom the case as most new riders start MC policies in the spring of course.
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Accurate post here.

Here is a simple example I provide clients:

Let's assume you set up a policy September 1st, and pay the policy in full by credit card.

If you decide to cancel the insurance on Nov 1st the same year, or Feb 28th next year, the refund you would receive would be the exact same, because as mentioned, you do not earn any premium during the winter months.
 
Agreed, not much point in changing your coverage for winter. Did it once my first year and saved nothing. Instead you just get an un-expectedly higher bill come spring.

Out of curiosity, what if you're paying monthly, reduce your payments in the winter and then cancel your policy in the spring because you got rid of the bike? I assume they would have no way to recover that period from you?
 
Ins. will bill you for the amount of premium you used. You might get a refund or have to pay out....one way or another, either directly or thru debt collection and you don't want that.

Summer vehicles are weighted so the premiums are used in their common use months. Zero in the winter(Dec to Feb) and starts at 5% in March + April, 10% in May and 20% in June to Aug, 10% in Sep and 5% in Oct + Nov....or something like that. Snowmobiles are the opposite...ish.
 
Thanks for the info everyone.
I won't be cancelling my insurance. But I will ask my insurance agent in a few weeks and update you guys.
 
If a new rider purchases a bike in Sept/oct, is it worth starting a policy this year in September, or wait until next year April? Or would it not matter, since you'll be paying for next summer in advance anyway?
 
ScorpionT16 said:
If a new rider purchases a bike in Sept/oct, is it worth starting a policy this year in September, or wait until next year April? Or would it not matter, since you'll be paying for next summer in advance anyway?
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It's a net benefit in the form of insurance history, basically. If you insure in September this year (for example), come next September you'll have a full year of insurance history on your record which could make upgrading your bike (if you wanted) at the end of next season (around the time of your renewal) less expensive. If you don't insure until (again, for example) April, next September you'll only have 6 or less months of insurance history on your record, so upgrading (again, if you desired) would likely be more costly.

You're going to pay it sooner or later anyways, so if you consider riding to be a long term thing, especially for a new rider every insured month without incident is of benefit in the grand scheme of things.
 
Also keep in mind that that last winter a lot of us rode all winter last year, which yielded a 40 page thread from everyone sharing their midwinter riding. ;)

Not to say this year will be the same, but hey, you never know...and having your bike uninsured if we get long stretches of warm weather unexpectedly like we did last year would be a bummer.
 
Thank you PrivatePilot,

we're debating getting a bike in the coming weeks as the end of season used prices are showing up, and i wasn't sure weather to park it till April, or just get the bike insured now.

Don't you guys get chilly riding in 5-10 degree weather due to windchill, and don't the motorcycle tires get hard in the cold?
 
ScorpionT16 said:
Don't you guys get chilly riding in 5-10 degree weather due to windchill, and don't the motorcycle tires get hard in the cold?
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Yes, and Yes. The getting cold factor is easy to remedy by dressing warmer - think how snowmobilers do more or less the same thing down into the -30c range.

Hard tires, yes, an issue, and it's good you're aware of it. One must drive accordingly, and keep in mind other things like leftover salt dust or sand debris (particularly at intersections) and leaf debris that may still be here and there in the typical winter months - both are issues for the winter warrior riders even when the weather is otherwise rideable. Again, extra caution, that's all.

Me and a friend went out for a ride in February or March, great fun. We dressed well and rode according to road conditions.


icebike2.jpg
 
I'm more comfortable riding at -10 than walking in it. Heated grips make a huge difference too. First ride this year was Feb as well. Would have been Jan 1, but was busy or something.
 
Thats amazing, the 40 page thread is interesting too, I run on the chilly side, and would def get some heated grips or wind covers for the handlebars!

As for insurance, the bike we're looking at is for both my dad and I atm, and with his 40yr riding experience (0 in Canada, and so we both start as new riders to insurance and licensing) , I know he wouldn't want to see a parked bike in the garage on a warm day sit idle! Why I was debating the cost diff between now and next year April.

Hard tires and wet leaves in the fall would be my largest concern, wet leaves esp. They suck moisture, and even on dry days when I cycle (my cycling exp) over them, they make your tires wet, with the illusion the road is dry, at 20kp/h on a bicycle, you notice it easily. I'm yet to get such experience on a motorcycle, practise and time will tell. Fall colours are beautiful, so riding slow to see some trees isn't an issue :cool:
 
You do have to be super alert for road conditions in the winter months, no question, but after a week or so without any salt or brine being thrown down (and some rain is a bonus) the roads get decent, especially if you stay in the car tire tracks where they're typically swept clean. It's the corners and intersections you need to watch for as mentioned.

Your dads experience should serve him well here, but if you're a completely new rider you may want to consider getting into one of the motorcycle safety courses before the end of the season - they're still running. Well worth the money, and there's typically a small insurance discount in your first year for having taken it. Even your dad would likely benefit if he never had any formal training, experience aside.
 
We grew up in Kenya, he rode some of the worst roads I've seen, and toured around there, from dirt, to mud, sand, etc... Off course, no snow or ice though.

I already did the MSC and got my M2 in July, he just wrote his M1 here and will be booking the MSC anyway to get the M2 paperwork and experience. When I saw a bike we could get, and showed him decent fall prices it convinced him to get his license asap here. last few years his been busy, and owning a bike with the high rates, considering him a newbie here, and not accepting his last country license has always put him off.

Insurance will be interesting for us on one bike atm, as we live in the same house, winter is coming, I'm younger with a M2 with less experience in theory, but more to the brokers on paper, his older but with an M1 only with tonnes more experience, but none to the brokers on paper, not to mention fighting for the bike on sunny days lol :confused2:
 
ScorpionT16 said:
We grew up in Kenya, he rode some of the worst roads I've seen, and toured around there, from dirt, to mud, sand, etc... Off course, no snow or ice though.

I already did the MSC and got my M2 in July, he just wrote his M1 here and will be booking the MSC anyway to get the M2 paperwork and experience. When I saw a bike we could get, and showed him decent fall prices it convinced him to get his license asap here. last few years his been busy, and owning a bike with the high rates, considering him a newbie here, and not accepting his last country license has always put him off.

Insurance will be interesting for us on one bike atm, as we live in the same house, winter is coming, I'm younger with a M2 with less experience in theory, but more to the brokers on paper, his older but with an M1 only with tonnes more experience, but none to the brokers on paper, not to mention fighting for the bike on sunny days lol :confused2:
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If I was in your shoes, I'd just look for two small cheap 250cc bikes. It may not be ideal, but think how much better it'd be riding and spending time together with your dad instead of taking turns.

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