Canceling Insurance for a Year — What Happens?

[stormcat]

Forum Sponsor

I'm sure this has been asked before... if I don't renew my bike insurance for the next year, what will happen when I do get bike insurance again? Will they try to classify me as a new rider again to screw me over for higher rates?

 

[Wheelieboy]

The last time I inquired, I had a lapse in my insurance for a few months. Since it was not a significant lapse in insurance, it had no affect on my premium. Best to check with your insurance company what they consider a significant lapse in coverage is.

 

[Johnny_M]

I had a one year lapse. My rates went from 2k/yr to 1k. Don't know why. I suspect its was because I turned 40, and said I was living with someone instead of being single. Other than that that, same bike and all the rest.
2k however was my first year as a rider, now it's my 3rd year.
Same insurance company (TD/Primmum) but new policy number. I thought they could just reactivate my old one, but they didn't. Also, when I called to renew the guy said they couldn't do it over the phone and I'd have to send in the full paper application. I didn't want to do that, so I called back, talked to someone else, and they sorted me out right then and there, and I was riding again that afternoon.

 

[Macs]

Having a lapse in your coverage usually isn't a big deal. I doubt they care about 1 year as long as you stayed licensed. Just remember, it differs insurer to insurer.

 

[munchkins]

I've never had a problem too regarding my bike's insurance when I wasn't able to renew for a couple of months. They got me the same policy with the same rate. It would be better to ask your agent or your insurance company's agent so that you can get good results. You might want to try Johnny's advice too if its applicable to you.

 

[Venom01]

Mine actually went down

This is my signature

 

[geoff-9]

I was told by my insurance when i went to full time track riding you can have a three year gap

 

[stormcat]

I was told by my insurance when i went to full time track riding you can have a three year gap

I'll ask Primmum about this. This is exactly why I'm thinking of canceling my bike insurance when it comes due. I think I only put 400 street kms on the bike this year. Most of my riding was track. Seems silly to pay $1,000 to insure the bike when it doesn't see the street.

Thanks everyone for the responses. Good to hear I won't get screwed over!

 

[nobbie48]

If your statistics don't create a burden for a friend with a bike you can get listed on their policy and therefore show continuous coverage. Not so good if that creates a surcharge because of offences. Your friend doesn't have to let you ride the bike so he's at no risk.

Forum Sponsor