Motorcycle Insurance Cost: Lay-Up Insurance

If you don’t plan to ride your motorcycle for long periods of time, (such as in the winter), why keep paying full-price to insure it? Also known as storage insurance, lay-up insurance gives you the option of saving money when your motorcycle’s not in use.

Below is general information about how lay-up insurance or storage insurance works and the pros and cons of having it.

What Is Lay-Up Insurance And Storage Insurance For Motorcycles
Lay-up insurance or storage insurance for motorcycles is a policy option that reduces your insurance coverage during the months when you’re not using your motorcycle, typically in colder seasons.

How Does Lay-Up Insurance And Storage Insurance Work For Motorcycles
Lay-up insurance still provides comprehensive coverage (against risks such as theft, vandalism, or damage from non-collision events), but it suspends your liability coverage and collision coverage.

Pros And Cons Of Lay-Up Insurance Or Storage-Insurance
On the plus side, lay-up insurance allows you to avoid gaps in your insurance history by keeping your policy active. This type of insurance protects your motorcycle while it’s in storage, while reducing your premiums for the periods of time when you’re not riding your bike.

The drawback to lay-up insurance, however, is that you can’t ride your motorcycle while you have this limited coverage. You can’t use your motorcycle unexpectedly (not even once), without adjusting your policy. You have no protection for road use during a lay-up or storage period.

How Much Can Lay-Up Insurance And Storage Insurance Save You
Switching to lay-up insurance for the periods when you won’t be using your motorcycle can result in significant savings, since you’re not paying for liability coverage or collision coverage.

Check With Your Insurance Agent Or Company
Please note that the information provided above is for informational purposes only. For the most accurate, up-to-date, specific information, check with your insurance agent or insurance company!