While Pismo Beach, CA offers warm, dry summers perfect for riding, the rainy winters may have you back in your car. There may also be other reasons you want to keep your bike stored, like family obligations or because you’re waiting to do repairs. You may be wondering if you can cut some of the cost of ownership by canceling your motorcycle insurance during those off times, or putting it on hold.
At Neff & Associates Insurance Services Inc, we help our clients design the right mount of coverage for their individual needs. You need the right protection considering your personal risks, but you shouldn’t be wasting money on coverage you don’t need.
Unfortunately, it is standard policy to exclude any vehicles, including motorcycles, in a traditional homeowners policy. This applies even if your motorcycle isn’t currently registered, or if you have it in your attached garage to work on it. You may still get some protection for other unusual items in storage, like your boat, but anything excluded receives no protection.
Another important point to think about is whether you still owe money on the bike. If you still have a loan on your motorcycle, there is probably a clause which requires you to keep full coverage on your bike all the time. If your lender finds out you canceled the insurance, they can impose a more expensive policy.
You never want to give up riding in a place like Pismo Beach, CA, but you can still be frugal. Call Neff & Associates Insurance Services Inc today if you want to see how you might be able to lower your premiums.
When a lien in a vehicle, full coverage is expected to be carried for the duration of that loan. So many times car owners receive the title to their vehicle and immediately contact the insurance company to drop their insurance to minimum coverage. In the state of California, minimum coverage consists of liability coverage.
Although it is required, car owners should continue to carry collision and comprehensive after the car is paid to prevent a financial burden in the event of a crisis. If you reside in or around the Pismo Beach, CA area, a full coverage auto insurance policy including collision and comprehensive can be purchased through Neff & Associates Insurance Services Inc.
Coverage of Car Damage
In the event of an accident, the collision portion of your policy can cover the damage to your car, or replace it at value if the damage is a total loss. For car owners only carrying minimum coverage of liability, they are not subject to this financial coverage, leaving themselves financially responsible.
Sometimes, unfortunate situations such as disasters or theft can cause damage to your car. The comprehensive portion of your insurance policy is available for the non-accident related claims in which significant damage can happen. Like the car owners who lack collision, those who lack comprehensive insurance are also responsible for their own damage repair or replacing the vehicle completely for a total loss. Most car owners do not have the financial freedom to immediately replace a vehicle, leaving you and your family stranded.
Protect yourself from unnecessary financial obligation. If you do not already carry collision and comprehensively covered on your vehicle, it is time to make that switch. Neff & Associates Insurance Services Inc proudly serves the Pismo Beach, CA area and has a policy ready for you today.