Multiple Motorcycles - Want to Toggle Insurance On/Off for a Motorcycle

R

renntecher

Active member
Hi I have two motorcycles and both are insured with TD and I was thinking during the riding season I would call in every other month to put on / take off insurance for my fun motorcycle.

Are there any consequences of this in terms of premiums in the future?

One agent I spoke to mentioned that it should be okay because people with multiple bikes do that all the time but he says that be careful to track when your motorcycle actually has insurance. Another agent mentioned that I can do it but only twice during the year.

Is anyone today this on forum doing this to save a few bucks? I am not doing anything illegal; I am just giving up insurance while I am planning not to ride it.

Thanks!
 
Good luck with that.

Generally policies are for a year so even trying to cancel over the winter is difficult if not impossible.

If you do figure out how to do that though let us all know because that type of program would be great.

I'm sure we have a few insurance agents on here that could comment further.
 
TD told me that I am only allowed to add/remove liability a limited number of times per year (not sure if 2 is the limit, but it was low).

They've changed the way they implemented it now and your premiums aren't immediately reduced when you remove liability. They wait until you call back to add liability again and then refund you the excess premium you paid, it makes budgeting for insurance complicated.

Every time you add/remove liability, they mail you a new set of pink slips (adding or removing the VIN in question). If I were the insurance company, I sure as hell wouldn't want to deal with monthly changes.
 
Yeah; this might get complicated if they calculate it like that....

I wonder if I can actually save $ if I do this though...or are there fees associated with their calculates i.e. if I insure it for only half the riding season is it exactly half of my premiums?
 
renntecher said:
Yeah; this might get complicated if they calculate it like that....

I wonder if I can actually save $ if I do this though...or are there fees associated with their calculates i.e. if I insure it for only half the riding season is it exactly half of my premiums?
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You would have to confirm with TD, but I don't believe it costs you extra. The only "fee" would be the minimum retained premium.
 
I do it between 3 bikes, have no issues.

if you look at the highest premium as your payment then your good
 
zeniceguy said:
I do it between 3 bikes, have no issues.

if you look at the highest premium as your payment then your good
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Hi Zeniceguy,

Can you go into a bit of detail as to your approach? Are you with TD as well? You must pay less than your highest premium since your other ones are lower.

When you add up the premium over the months - it should be less than the highest.
 
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The OP isn't cancelling insurance, just transfering it to a different bike. No different than if he bought a new bike except he switches back and forth during the year.
 
I have the 3 bikes. insura 1 at a time.

I can ride my oil cooled 91 in the spring and fall while its cooler out, then I just call the insurance company and said hey, im gonna drive the 1000 for a bit now so swap the insurance over. it only take a few minutes because they will have all the bikes on file already. if there is a difference in premium they will just send u a check or tell you to pay the diff.
 
zeniceguy said:
I have the 3 bikes. insura 1 at a time.

I can ride my oil cooled 91 in the spring and fall while its cooler out, then I just call the insurance company and said hey, im gonna drive the 1000 for a bit now so swap the insurance over. it only take a few minutes because they will have all the bikes on file already. if there is a difference in premium they will just send u a check or tell you to pay the diff.
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Thanks! I would probably keep my scooter insured all the time and my moto half of the time.

Thanks all!
 
I too switch between 3 bikes. 2 bikes fall under the same category and are the same price to insure so with Jevco I could switch back and forth as often as I want. I am not certain but I think with Intact now I can switch twice in a year and any more than that it is a $40 "Admin Fee".
I am actually switching it tomorrow and actually drop in to see my agent (she is close by) to ensure that everything is in order.
I can ask questions then.
 
7up said:
I too switch between 3 bikes. 2 bikes fall under the same category and are the same price to insure so with Jevco I could switch back and forth as often as I want. I am not certain but I think with Intact now I can switch twice in a year and any more than that it is a $40 "Admin Fee".
I am actually switching it tomorrow and actually drop in to see my agent (she is close by) to ensure that everything is in order.
I can ask questions then.
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Thanks - any information would be good. Might switch my policies over if they are decently priced too.
 
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