Understanding Insurance Adjustments

The Downsides Of Lay-Up Insurance Policy Options And How Pay-Per-Mile Coverage Solves Those Issues

Most motorcycle insurance companies know that most motorcycle riders do not ride their bikes year-round. Many people put them away during the cold, snowy, and icy winter months. As such, many traditional motorcycle insurance companies offer a lay-up period. This means that you state your motorcycle is put away for the season and your policy is essentially put on hold for riding the bike. A newer option for motorcycle riders is a pay-per-mile motorcycle insurance policy. You pay a set amount per thousand miles. You take a picture of your odometer reading at the end of each month and are billed accordingly. This type of policy offers many benefits that traditional insurance with lay-up policies do not. Read on to learn more about this.

You Can Not Use a Motorcycle At All During a Lay-Up Period

One of the biggest downsides to getting a traditional motorcycle insurance policy and utilizing the lay-up policy is that you cannot use your motorcycle at all during this period. If your bike needs work or you just want to ride it around the block to get the fluids flowing, you cannot do so. With a pay-per-mile motorcycle insurance policy, you can still use your bike during the winter months, even if it's just for a short ride. 

You Are Typically Limited to One Lay-Up Option Per Year

Another downside to lay-up insurance policies is that you are typically only allowed to start the lay-up time once per year. So, if the weather starts to warm up in February and you cancel your lay-up period and then the weather suddenly turns cold for another two months, you cannot reinstate the lay-up period for the year. With pay-per-mileage motorcycle insurance, you are only paying for the miles you ride your back, so you can take the bike out on a nice day, without having to worry about if the weather has changed for the season and when you should start or stop your lay-up option. 

Occasional Riders Pay High Motorcycle Coverage Rates

The final downside to traditional motorcycle insurance with a lay-up option is that the insurance rate can still be high, especially if you only use your bike for weekend rides, rather than daily use. Pay-per-mile insurance allows you to only pay for the miles you are out riding instead of paying for a month when you may have only ridden a few days here and there. 

For many bike riders, particularly those who are occasional bike riders or who only ride their bike short distances, a pay-per-mile motorcycle insurance policy may make a lot more sense. Contact insurance companies like Quote Buy Ride to find out which ones offer pay-per-mile policies in your area, and then ask about rates to find out if this type of policy makes financial sense for you.