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Old 11-22-2009, 05:08 PM   #1 (permalink)
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Default Cancelling insurance in NY for winter bike storage

So winter is right around the corner and many of us folks up here in New York are putting our rides away for storage.

The DMV website says that you do not need to surrender your plate for motorcycles in NY if you are not insured as long as the bike is not ridden. So I am guessing this means that I can just cancel my insurance for these next several cold months and not worry about my bike being registered still and just pick up insurance again in the spring when I take it out of storage?
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Old 11-22-2009, 05:23 PM   #2 (permalink)
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No you need insurance on your motorcycle if you don't want to re-register it come spring. Just do liability if you want just cheap insurance.
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Old 11-22-2009, 05:35 PM   #3 (permalink)
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Ah damn I forget how much it was to register my bike.

So if I understand correctly, you CAN cancel your insurance and not surrender your plate and not be slapped with an insurance lapse fee, however you do have to register it again and pay the fees, go to the dmv, etc.

Liability is $33 a month. Cancelling insurance is a $50 fee. If the DMV fees are any more than $60 then it's probably not even worth the trouble of it all.
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Old 11-22-2009, 05:38 PM   #4 (permalink)
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just a thought... my bike insurance is a "full year" policy, but they realize that the bike will not be ridden in the winter. It's like what they use to call a "sunny day" policy. So I'm covered year round for a lower price than a car. If I were to cancel and reinstate my bike every year it would cost way more than what i have now. Call your agent and ask them, but it will most likely work out that way.
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Old 11-22-2009, 05:44 PM   #5 (permalink)
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just a thought... my bike insurance is a "full year" policy, but they realize that the bike will not be ridden in the winter. It's like what they use to call a "sunny day" policy. So I'm covered year round for a lower price than a car. If I were to cancel and reinstate my bike every year it would cost way more than what i have now. Call your agent and ask them, but it will most likely work out that way.
+1 My bike is in storage. the first year I called to cancel the insurance and asked them how much of a refund I would be getting. Came to like 34 bucks.. At that point I just left my bike insured year round. Plus by now my rates would go up because of how many times they've paid out on my bike
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Old 11-22-2009, 05:47 PM   #6 (permalink)
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In NY State you DO NOT have to surrender motorycle plates in order to cancel your motorcycle policy. You WILL NOT be fined for having reistration without insurance as you would with an automobile policy.

You also do not need to cancel your registration, just tell DMV nothing, in February you will get a registration renewal notice, at that time you will need to re-up your insurance and send in $$ to register the bike for another 12 months.

I am an insurance agent so I want to just leave you with this 1 tidbit. The small amount of $$ you will save in the short term by cancelling your policy in the winter could cost you much more in the long run.

1st tenure is a big thing with insurance companies, tenure can earn you discounts and even accident waivers if you are unlucky enough to have one.

Second, while your policy is in force the insurance companies usually DO NOT run DMV reports on you every year. But each time you re-up they do run DMV. So if during the winter you get a ticket, when you re-up they are going to surcharge you.

PM me if you would like to discuss further.
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Old 11-22-2009, 06:47 PM   #7 (permalink)
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thanks for the replies guys. sounds like keeping insurance year round is the way to go.
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Old 11-23-2009, 05:57 PM   #8 (permalink)
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i keep it just lower it so im only paying like 25 bucks a month better the going through all the bs to get it back on .
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Old 11-23-2009, 06:16 PM   #9 (permalink)
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I keep it on all the time.

#1 thing because its better on the rates and premiums

and #2 somtimes u get a nice warm day in the middle of winter lol.. its true
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Old 11-28-2009, 01:45 PM   #10 (permalink)
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Quote:
Originally Posted by rbray View Post
just a thought... my bike insurance is a "full year" policy, but they realize that the bike will not be ridden in the winter. It's like what they use to call a "sunny day" policy. So I'm covered year round for a lower price than a car. If I were to cancel and reinstate my bike every year it would cost way more than what i have now. Call your agent and ask them, but it will most likely work out that way.
Mine is through State Farm, and this is what they told me when I dropped everything but comp. on it. It's a lot of hassle with the company dropping it, and figuring it out with various charges because of "how the policy is set up", I end up saving about a month and a half worth of coverage only instead of 4 like you'd think.
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