Repercussions of changing insured vehicle monthly, or even weekly

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drumstyx

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So I have a few bikes, and as any bipedal human, I only ride one at a time.

I've asked this question before, and the answer seemed to be that, at least with a frequency of a few times a year, this is not a problem. However, what is the worst that could happen -- could my insurance drop me for switching very frequently? What if I don't want to go whole seasons on one bike or another, but the weather is just perfect for a particular bike one week?

Most people would probably be afraid of pissing off the insurance company doing this, but really I'm looking for the cold hard facts. ****** off or not, could I lose doing something like this? I don't mind managing the finances of it, and ultimately paying the rate of the more expensive bike. I pay yearly, and if it happened that I didn't get a refund from switching to a cheaper bike for a month, I don't really care, I just want to be able to ride it!

Industry insiders: What's the word?
 
Subscribing to this thread as it is of interest to me, now that my project bike is almost ready.

Yeah - what's the word?
 
I turn liability on and off on a summer car with TD MM. They said a few times a year is no problem. If I start doing it often or only leaving it on for short periods of time, they are not interested and I was told to look for another company to insure that car.
 
I mean, I'm sure my insurer or my broker would not be happy about it, but I'm interested in what they can legally do. As I understand it, dropping or increasing rates are both pretty regulated.
 
drumstyx said:
I mean, I'm sure my insurer or my broker would not be happy about it, but I'm interested in what they can legally do. As I understand it, dropping or increasing rates are both pretty regulated.
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Generally insurance is on a yearly basis. Habitual ending of yearly agreements will black list you and the insurer will simply charge you massive penalties if they do not simply black list you and refuse to provide you with insurance leaving you with limited choices as other insurers will be hesitant to insure you as well.
 
You just need a patient broker and avoid switching back and forth from the same vehicle multiple times in the same "season".

Can they do something about your frequent requests? Yes. Insurance is intended to be purchased for a year period.

If that risk is changing, they can refuse to insure it or charge more.

The broker will "council" you.

A winter Bike and summer bike isn't a bad idea.


But going from week to week based on what you want, won't likely be received well and end up having you look for another insurer.




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Paulo M. said:
Generally insurance is on a yearly basis. Habitual ending of yearly agreements will black list you and the insurer will simply charge you massive penalties if they do not simply black list you and refuse to provide you with insurance leaving you with limited choices as other insurers will be hesitant to insure you as well.
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Is it really ending a yearly agreement though? The policy isn't ending, just the insured vehicle is changing. That's why they don't charge me fees, or re-rate based on accidents/tickets, no?

nakkers said:
You just need a patient broker and avoid switching back and forth from the same vehicle multiple times in the same "season".

Can they do something about your frequent requests? Yes. Insurance is intended to be purchased for a year period.

If that risk is changing, they can refuse to insure it or charge more.

The broker will "council" you.

A winter Bike and summer bike isn't a bad idea.


But going from week to week based on what you want, won't likely be received well and end up having you look for another insurer.




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Click to expand...

I'm 100% positive I could go through 5 different bikes in a season in the case of simply buying and selling. I mean, really, how could one reasonably be upset with that? In that scenario, I'm just upgrading, or maybe the bikes are dying, whatever the case may be. So I guess that means this is a case-by-case thing, and that they can drop you for switching around too much?

On one hand, I like that there's discretion, but on the other, considering how severe the consequences can be (getting dropped at renewal!!) it's kinda ****** that there aren't clear guidelines.
 
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drumstyx said:
Is it really ending a yearly agreement though? The policy isn't ending, just the insured vehicle is changing. That's why they don't charge me fees, or re-rate based on accidents/tickets, no?



I'm 100% positive I could go through 5 different bikes in a season in the case of simply buying and selling. I mean, really, how could one reasonably be upset with that? In that scenario, I'm just upgrading, or maybe the bikes are dying, whatever the case may be. So I guess that means this is a case-by-case thing, and that they can drop you for switching around too much?

On one hand, I like that there's discretion, but on the other, considering how severe the consequences can be (getting dropped at renewal!!) it's kinda ****** that there aren't clear guidelines.
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Yes, because technically you agreed to insure a specific vehicle for 1 year. Yes things happen and that is why they are willing to accommodate changes like the buying and selling of vehicles. But unless you go with a specialty provider, I highly doubt any provider is going to be willing to entertain your switching policies simply based on your desires. What you have to do now is find such a specialty provider, and hope they don't charge ridiculous premiums for your constant and regular policy changes.
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