My Account
Auto Insurance
In the colder months, it’s rare to see a motorcycle on the road in Memphis, TN; it’s stored in the garage. This might persuade you to cancel your motorcycle insurance. Paying premiums for an unused bike may seem useless, but gather information from Anthony Lancaster Insurance Inc. before taking action.
Do You Need Motorcycle Insurance If You Don’t Ride It in the Winter?
Yes, you do. Motorcycle insurance does more than protect you on the road. It protects you against theft, vandalism, fire, and damage when it’s not in use. If you cancel your insurance coverage, you risk losing that protection. Should something happen, you must pay for the incident out of pocket. Whenever you reapply for motorcycle insurance, you’ll pay higher rates.
In addition, winter weather in Memphis, TN is not 100% snow, ice, and chilly winds. It’s not unusual to see winter days reach 70 degrees. If you cancel your policy, you must pay for auto accidents and bike damage until you get a new policy.
Furthermore, this option is for bike owners. Motorcyclists who do not own their motorcycles cannot cancel their policy.
Can You Lower Insurance Premiums Instead?
It depends on the insurance provider. Some allow a rate reduction as long as the motorcycle is in storage. Should you ride it regularly, premiums may return to normal or higher rates. Some suspend, pause, or make the policy inactive until you reactivate it. Others offer a lay-up policy that suspends every type of motorcycle coverage in your policy but comprehensive coverage. You pay a reduced rate for keeping your motorcycle in storage.
Year-round coverage is the best option for motorcycles in the winter. However, one of our insurance agents will examine your policy to see if you are eligible for lower rates while maintaining protection. Call or visit Anthony Lancaster Insurance Inc. for more information about adjusting motorcycle insurance rates.
