Lapse in continuous insurance - how does it affect rates? | GTAMotorcycle.com

Lapse in continuous insurance - how does it affect rates?

Dizzer

Dizzer

Well-known member
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Hey guys,

Strange to be posting this.. I’ve had some sort of street bike since Age 20 (30 now) and I’m thinking about taking a break from riding on the road. I think I did 2000km last season - weak! I’ve always been into off-road bikes and recently that’s all I’ve been doing is riding consistently mx/trails every weekend. I find I’m not making time to ride street during the weeks due to work and other obligations, and weekends are dedicated to dirt now and I’m having much more fun doing it.

My question is... should I keep my current ride and keep it insured even though I’m not using it? (Roughly $650/yr Ins.)
I’m worried when I decide to get another bike that My rates will be much more expensive like starting all over again.. Anyone done it before? Just looking for some insight. I most certainly will ride on the road again, but may be a couple years before I get the itch.

I am 30 and have my full M, 10 years licensed on a bike.
 
Dizzer said:
Hey guys,

Strange to be posting this.. I’ve had some sort of street bike since Age 20 (30 now) and I’m thinking about taking a break from riding on the road. I think I did 2000km last season - weak! I’ve always been into off-road bikes and recently that’s all I’ve been doing is riding consistently mx/trails every weekend. I find I’m not making time to ride street during the weeks due to work and other obligations, and weekends are dedicated to dirt now and I’m having much more fun doing it.

My question is... should I keep my current ride and keep it insured even though I’m not using it? (Roughly $650/yr Ins.)
I’m worried when I decide to get another bike that My rates will be much more expensive like starting all over again.. Anyone done it before? Just looking for some insight. I most certainly will ride on the road again, but may be a couple years before I get the itch.

I am 30 and have my full M, 10 years licensed on a bike.
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That’s alot of experience to throw away over money heh get it? Cause you’ll just have to pay more if you get back on the street?
 
But if you’re over 30 the rates will only blow for like 2-3 years if you wanted back in and if you started at 20 you’ve probably been paying crappy rates most of the time anyway so I don’t see a huge tradeoff. Invest the 650 compounded annually at 20 percent and then you’ll almost have enough one day to get on a ninja 250 ?
 
Ask @Gary , he took a break and got the bend over rates. How long a break are you taking? I suspect at $650+ a year (it just keeps going up), keeping a bike insured to avoid losing the experience will quickly become not cost-effective.
 
I was away for over 7 years. Came back with no insurance history for car and bike. I'm paying close to double for my car insurance now, but bundled motorcycle insurance is actually cheaper than before I left.

It's a 2012 F650GS though, and I only opted for PLPD, no comprehensive: $36/month. No tickets, no claims. Was paying about $60/month before I left (but with comprehensive). I'm sure if I was riding a Gixxer Thou, I'd be paying bend over rates as well.

I suspect the insurance company is cleaning up on my car insurance. I shopped around and over-paying on the car and under-paying on the moto was the cheapest combo.

Edit: Also, I'm old.
 
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I was riding the pine from 2014, until a month ago. Full coverage then was under $900 (busa).
Now, $1700 (fjr1300), mostly because of the lapse. There's a 10 over speeding ticket causing a 10% "tax".
I was in a hurry, but I'll be shopping it around next renewal.
 
Thanks for all the replies guys I appreciate it. Ive got a bit of thinking to do.. at the moment I’m feeling like I should just keep it.
 
I thought about that. Not riding as much as I'd like since my kid was born.

At one point I thought about replacing with a 125cc for cheap insurance coverage and once in a while ride.

I hear groms are fun.
 
moarmoto said:
I thought about that. Not riding as much as I'd like since my kid was born.

At one point I thought about replacing with a 125cc for cheap insurance coverage and once in a while ride.

I hear groms are fun.
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will likely sell mine soon, but its so heavily modified it wouldn't suit the average persons requirements.
 
Evoex said:
will likely sell mine soon, but its so heavily modified it wouldn't suit the average persons requirements.
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Or budget. Modified groms are expensive (or at least people ask for a lot, I have no idea what they sell for).
 
Get a cheap $125cc enduro. My little putt-putt 125 costs $22/mo to insure (bundles with home and auto).
 
I'll add my 2 cents as I was just in the same boat earlier this year and was surprised by the outcome. I rode during summer 2018 for $1800/yr. Took 2019 off (50% to save money, 50% contemplating selling). This year I'm paying $1500. 32M riding 600cc SS bike living in Brampton, no bundle.
 
AGMZ said:
I'll add my 2 cents as I was just in the same boat earlier this year and was surprised by the outcome. I rode during summer 2018 for $1800/yr. Took 2019 off (50% to save money, 50% contemplating selling). This year I'm paying $1500. 32M riding 600cc SS bike living in Brampton, no bundle.
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Did you take off <364 days or 365+ days?
 
GreyGhost said:
Did you take off <364 days or 365+ days?
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From the time my old policy expired until the new one kicked in was just over a year (~375 days). Then again I started shopping around about a week or so before so I don't know if it affected me at all.
 
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